How Creative Marketing Incentives Can Be The Gateway To Long Term Profitability!Part Four
So you don’t necessarily have a problem, with consistently utilizing some of your very best, creative marketing incentives do you?
Good. Because believe it or not.
You definitely have it within your financial and or creative marketing reach right now.
To not only get, but to consistently generate more potential new business, for literally pennies on the dollar.Say what? 😀
Of course, (as you ) already know only too well.It’s gonna take a little more consistent effort, than merely reading a marketing orientated blog post or two.Correct? 😀
But for sure, you can and definitely should take a giant step toward, generating and maintaining, some much needed customer loyalty.
Not only for pennies on the dollar, but the bond with your very best customers and clients, will go a whole lot deeper as well.
Let’s have a much closer look at an instance or two. And you be the ultimate judge.Fair enough?
Why You Must Develop Some Practical Customer Retention And Growth Skills Or You’re Literally Sabotaging Your Chances For Long Term Success!
Case in point. Let’s switch gears here for just a second. And let’s suppose you’re one of three senior partners, in one of your areas fastest growing CPA (Certified Public Account) firms.
Currently your rather small, yet steadily growing firm processes somewhere in the neighborhood 7-13 million dollars in annual billings. (Not too shabby BTW! 😀 )
So needles to say, when it comes to both business and local fund raising and other extremely popular, (not to mention) extremely high profile-local- charitable events.
Your firms senior partners almost always gets invited to these extremely popular events, and even certain partners are featured keynote speakers at some of these local events as well.
And you enthusiastically donate both your time, money and other extremely valuable resources, to various causes you readily support and you strongly believe in.
Because the social media exposure you and all the other participants receive, is simply over the top. 😀
It Would Definitely Be To Your Long Term Advantage To Develop Some Customer Retention Strategies!
This being the case. Here’s one of the incredibly simple ways, your firms senior partners, often convert, free speaking engagements, into some mega long term pay days.
Both in the immediate front end short term. But far more importantly, on the long term back end of their highly polished and extremely well developed sales funnel.
Let’s say one of your most popular senior partners, routinely gets invited to conduct intense 90-120 minute free introductory tax savings and advanced estate planning workshops.
Primarily to local small to mid size business owners and aspiring and or fully established local entrepreneurs.
And typically, anywhere from 75 -100 local business people attend.(And as the annual tax filing deadline quickly approaches.
These same popular advanced estate planning workshops, typically attract between 125-175 local small business owners/aspiring entrepreneurs. 😀 )
Of course the (extremely marketing savvy promoters 😀 ) video tape these popular events.And later on pro-actively market them in various ways.(More on this potentially profitable, extremely advanced strategy, in a future blog post, okay? 😀 )
It’s A Whole Less Expensive To Develop Some Practical Customer Retention Strategies!
So here’s one of the simplest instant cash generating strategies, (both you) and the CPA’s firm routinely uses, to monetize their audience of 150 (and or X number of) attendees.
The CPA will establish and re-establish the fact, their normal consulting rates are just $375 per hour. Or X.
And they will offer to raffle off, two hours of one on one consulting time, which is a $750 value. For a one time payment of just $100 dollars! Say what? 😀
Provided of of course, the attendee has joined the firms opt in email/mobile marketing list.Otherwise, they can still enter the raffle, they just make a one time payment of $400 dollars! 😀
(Extremely important note: If you decide to at least test this potentially profitable strategy. Then you simply raffle, (either) an extremely popular product or service of yours, at a lower price.
You Can Most Definitely Grow Your Accounting Business Without Relying On Outrageously Expensive Traditional Advertising Campaigns!
Provided the participants join your VIP opt in email/mobile marketing list. And or they fill out a brief form, and join your offline snail mail list. 😀
Otherwise, they (obviously) can still enter your raffle, they just pay substantially more, in order to do so! Which should compel, the vast majority of them, who are sincerely interested to join your list and save themselves a few bucks. Don’t you agree?
So getting back to the previous example of this incredibly dynamic strategy in action.
Let’s say the CPA firm, is conducting a 120 minute, advanced estate planning workshop, for a popular local charity. And (not only) does the charity pocket 100% of the front end attendance fee of X. 😀
Minus all of their front end costs to aggressively promote it.
You Can Definitely Generate More Sale Revenue For Less Overall Effort!
But since it’s only six weeks away from the annual tax deadline. About 175 of the locals attend.
And the CPA firm guest speaker uses the instant cash generating raffle strategy. And a grand total of 110 locals enter.
One hundred of them decide to join the CPA’s VIP opt in email/mobile marketing list. And the other ten entrants, for whatever reasons, decide not to. And instead they gladly pay the higher one time entry fee of just $400 dollars!
Here’s how the CPA (or your) particular numbers would break down. A total of 100 entrants, each paid a one time raffle entry fee of $100 dollars. Or X.
Which means the CPA firm just grossed a cool $10,000 dollars so far on the initial front end of their sales funnel.Right? ($100 dollars x 100 entrants = $10,000 dollars on the initial front end. 😀 )
Who Says You Can’t Consistently Generate More Sales Leads For Less Money!
And since the other ten raffle entrants, decided not to join the CPA’s on or offline list. They paid $400 dollars.
Which means the CPA firm grossed an additional $4,000 dollars! ($400 dollars x ten people = $4,000 more dollars on the initial front end of their sales funnel. 😀 )
And they’ll gladly donate 25 -50 (or X%) of this front end amount to the local charity as well!
So in the case of them donating 25% of the $14,000 dollars their firm just grossed. They enthusiastically write a check to the charity, for $3,500 dollars. Or X. ($14,000 x .25% = $3,500 dollars.)
And not only do they now have an additional 100 brand new VIP subscribers added to their list.For pennies on the dollar.
But since their typical customer/long term repeat clients, total lifetime customer value,is usually worth, somewhere in the neighborhood of $7,500 – $40,000 dollars over the next five to seven year period. Say what? 😀
You Can Definitely Generate More Sales Revenue When You Consistently Implement Some Proven Marketing Strategies And Or Tactics!
Now there is an incredibly powerful strategic alliance type of joint venture (JV) strategy, the CPA firm, can and definitely should implement with the charity.
And or, whichever local business entity, they are guest speaking for.If you are a managing partner in either an up and coming CPA and or accountant firm.
And you’d like to know how this particular, (rather) advanced marketing strategy, can definitely work for you.
Please reach out to me via my blogs contact page. And the details will be shared with you, via a phone conversation. Provided your firm is located in the United States. 😀
In the interest of both time and space. The most important concept for you to walk away with is this.
Unbeknownst to the vast majority of your major competitors. There are literally a ton of untapped, creative marketing incentives, just waiting for,(either) you and or your major competitors to discover and implement.Don’t you agree?
P.S.Now as is customary during this part of our show.
Please share your extremely valuable comments (in the comments section below) that you can
apply to your business, product or service in the next 30 days or less!
As always, if you got any value out of this post, please Google Plus or tweet this.Thanks!
And be sure you grab your explosive free 22 step small business marketing idea kit series, because it will help you increase your gross profits by as much as 25% in the next 90 days or less.
And help you master your effective communication in marketing skills.(No matter what your particular niche market is.)It’s a $97 dollar value and it’s free!
