How To Drive Sales In Retail Simply By Building Your Brand!
Has the thought actually occurred to you how to drive sales in retail. Can be accomplished simply strategically building your brand. And once you get the basics of proven marketing and promotional strategies and tactics down.
You or your major competitors can literally do so for pennies on the dollar. And the long term benefits definitely don’t stop there. because as you or your major competitors start consistently and systematically generating first time customers for literally pennies on the dollar.
For one thing. The moment you or your major competitors are able to clearly differentiate between a one time sale and long term repeat customer. Now you’re in the ideal situation to methodically grow (scale) your business or service.
In fact even though the following situation isn’t ideal by any stretch of the imagination. By systematically lowering your upfront out of pocket cost. You can gross exactly what you did the year before.
But you or your major competitors earn a higher gross net front end profit. Say what? Think about the dynamics for just a second. What if your typical cost per lead (CPL) the year before was $325.
And now one of your proven lead generation sources averages between $50- $100 dollars per lead. That’s a typical savings of $225 dollars per lead. What would or could those type of consistent savings per lead do for your bottom line?
So Why Shouldn’t You At Least Inexpensively Test Some Guerrilla Marketing Tactics For Small Business Growth?
Case in point. Let’s say you’re the co or sole owner of a single location retail jewelry store. And up until very recently. You along with some of your major competitors have been going the outrageously expensive, traditional advertising/promotional route.
For one thing, you were also wasting a ton of money on those outrageously expensive, dismally performing local billboard ads.
Which typically drain a whopping $25,000 dollars a month. Ouch. But upon a closer look at both your professional and personal inner circle members.
You begin to strategize “how to” systematically scale marketing and promotional efforts for literally pennies on the dollar. Here’s how. First. You pay extremely close attention to all of your current vendors and suppliers. Huh?
And where you and any of your key female staff currently get both their hair and nails done. Who currently does your taxes or bookkeeping. Especially if they’re Mom & pop -non franchised- providers.
And if they or any of their associates are women. Even better. Say what. Because let’s say one of your key female sales associates. Routinely gets her nails and hair done at least once a week.
And she also has a kid in a nice upscale daycare center facility. And she’s currently in the process of listing her condo for sale. Which definitely means at some point. She will come in constant contact with some local real estate related professionals. Some of whom are successful females.
And some of them will definitely be in the market for some great looking bling, right? Especially if , (for an extremely limited time),they can purchase it at a significant discount Bingo.
Certain Previously Untapped Marketing Situations Are Just Waiting To Happen!
Case in point. Let’s say one of the non directly competing vendors who comes to service your showroom is the local company which provides the drinking water.
This man or woman. More than likely has the following:
1.) Extremely close friends who live somewhere in the local area, correct? Some of whom may be or will be in the not so distant future. Sincerely interested in purchasing some extremely eye catching bling at a nice discount.
2.) Extremely close relatives who may also want to purchase some great looking bling at a nice discount.
3.) Some current or future or ex co-workers who may at some point in the not so distant future. Be extremely interested in discovering how and where they and their professional and personal inner members can purchase some top of the line bling. For literally pennies on the dollar.
4.) They may also have current and ex neighbors who want to know where or “how” they can acquire some great looking bling.
You Don’t Need To Start Out Extremely Big In Order To End Up Extremely Large!
Now one of the proven keys to successfully getting a non traditional lead generation strategy like this off the ground. Fairly quickly and inexpensively. If the vendor is the actual owner of the service and not an employee.
You will cut straight the case with them. Huh? And basically ask them which of the two pieces of jewelry they’d most like to purchase at your actual hard cost.Huh? For an extremely limited time.
Let’s say they’d really like to purchase your Men-s Rolex watch. Which typically retails for $2,500 dollars plus any and all applicable taxes & fees. And because you or your major competitors only spend half to purchase it.
They know they’d be saving a ton of money. So you inform them. Simply for joining and remaining an active opt in email subscriber. And by systematically passing out (to whomever they wish to.) Your market tested, extremely time sensitive gift certificates.
If And When You Get The Word Of Mouth And Mouse working For And Not Against You! (you Or Your Major Competitors Are Definitely On Your Way!)
For every one which ultimately converts into first time paying customers.As soon as they generate 15 or X number or first time customers. Regardless of how much or how little these first time customers spend.
You or your major competitors will gladly sell the vendor this particular Men-s Rolex watch at your actual hard cost of X. And going forward. If they want to continue this particular arrangement. You or your major competitors will gladly pay them $75 or X dollars per brand new first time customer their efforts produce.
Because remember. Your ideal customer. Currently has a total lifetime customer value metric of $300- $11,000 dollars. Give or take over the next five to seven year period.
And remember this is just one local Mom & pop non directly competing vendor. Without going any further entrepreneur. Are you starting to appreciate “how to drive sales in retail.” Simply by systematically and strategically building your brand for literally pennies on the dollar.
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 share this on your favorite social media sites or tweet this. Thanks!
And if you’re currently registered on Linkedin or twitter, and you’re serious about about doing some type of power networking. Let’s get connected asap!
Extremely important note: And if by chance, you happen to know any of the lesser known podcasters,(or radio show host)
who also target small business owners, service providers or aspiring startups entrepreneurs etc.
And they’re pro-actively looking for potential guest speakers. Please don’t hesitate to-either- pass their name and contact information directly
to me or vice versa! Thanks!
(Click the link just below, and watch the first video at the top of the page, if you’d like to see the entire 33 minute replay, of a guest podcast on
marketing your small business or service. I Recently appeared on.)
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! Please note some links on this page are affiliate (income producing) links.
