How Getting Out Of A Recession Can Open Up Previously Untapped Marketing Possibilities! Part Two
Quickly picking up where part one left off. Who else is up for “discovering” how getting out of a recession, opens up the door to some previously untapped marketing opportunities? and the really good news is.
You definitely don’t need fortune 500 ad budgets in order to do so. Of course, it helps if you or somebody has direct or indirect access to the mega big ad/promotional budgets, right? but is that really practical for you and I to expect?
Practically No Small Business Owners Believe They Can Systematically Grow Using Some Creative Marketing Strategies And Tactics!
Say for instance. ladies& gentlemen. “What” do you (honestly think!) will happen? If a local mom & pop gourmet coffee shop. which is non franchised, systematically did the following.
Remember before diving in headfirst. (Before you potentially waste a fortune on outrageously expensive, traditional ad campaigns of any kind.) They/you could and definitely should inexpensively test. Because strategic testing helps you and I and or your major competitors hedge against campaigns that don’t justify themselves financially.
Would you consistently pay an employee top wages plus commissions. If their overall job performance was subpar? No way, right? Then “why” pray tell would you allow an ad or promotional campaign to keep bleeding your ban account try?
So you and or your major competitors allow some o your larges vendors to give away Xtra large “Big Gulp” plastic mugs. Which the recipient can give to their? (Take your pick.)
1.) Current and future customers.
2.) Current and future vendors.
3.) In active ex customers. As an extremely time sensitive ethical bribe for reactivating themselves. (What retail or service provider doesn’t have at least a few inactive customers from time to time?)
4.) Allow some of the businesses or service providers within an immediate 5-10 block radius. the ones you and or your major competitors already have established relationships with.
Allow them to do all of the aforementioned. (And watch and see which long term direction your gross front and back-end profits go.)
5.) Allow local charities to do the same.
Sometimes Just consistently And Strategically Implementing The Initial Front End Of Your Strategy Is More Than Enough To Move Off Center In A Major Way!
case in point. Let’s take the aforementioned strategy just a little further, okay? So let’s say over the course of 36 months/three years. A grand total 7,500 Xtra large “Big Gulp” plastic mug are given away to the locals.
But instead of them having to pay the current retail price of $11.99 per cup or X. They only pay $2.99 or X per cup. All they have to do to qualify for this incredibly generous, (albeit strategic price!)
They just bring the plastic “Big Gulp” cup with them to you or your major competitors gourmet coffee shop. And let’s say on average at least 70 or X% of them become regulars.
And they come into your shop at least three times per week. And typically spend X. And they do so 52 weeks per year. And they remain loyal for at least five or X number of years.
Of course, you realize they’re not only going to be purchasing your great tasting gourmet coffee or other great tasting beverages at an outrageous discount, correct?
Ladies And Gentlemen Are You Starting To Smell The Potential Long Term Profit Generating Possibilities?
You know at least some these customers will be purchasing birthday cakes, cookies, muffins and the like, correct? and you or your major competitors could periodically let them sample a dozen whatever. At your actual hard cost. So they can freely share them with their siblings, neighbors, co-worker’s, partners in business and besties etc.
And on and on. And this will lead to more and long term repeat customers, correct? Are you still confused about how getting out of a recession can lead to some previously untapped marketing opportunities? I sincerely hope not.
Entrepreneur Stop Bottling Up Your Natural Marketing Creativity!
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!
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