How To Grow Your Bakery Business Even In The Face Of Some Fierce Competition!
So of course your single location, non franchised local bakery, has extremely great tasting goodies, correct? Absolutely. 😀
But here’s the thing. Even though on average, for every initial first time customer, who samples your great tasting wares.
About three out of ten, or 30% will most definitely become long term repeat customers, right?
So the $64,000 dollar question now becomes, how to grow your bakery business, even in the face, of some potentially better financed competitors.
Some of whom may even be, big name franchise owners.Is this not interesting? Whatever the case may be.
Don’t forget and or neglect the fact, (on average), about 30% of those who initially sample some of your extremely great tasting gourmet pastries and or pies etc.
They will convert into some long term, repeat customers, who literally purchase from you, for years and years to come.
Wanna Discover How To Make Your Business Journey A Whole Lot More Profitable?
First and foremost. Don’t forget and neglect the fact, on average, about 30% of the local, small business owner/service provider customers, who initially sample your wares, will convert into some long term, repeat customers.
And by the same token, (on average), about 40% of the local individuals, who initially sample your extremely great tasting goodies, will also develop into, some extremely loyal, long term repeat customers.
Which explains why, your ideal customer, has a total lifetime customer value, of somewhere between $800- $3,000 dollars. Over the the next five to seven year period. 😀
How To Grow Your Bakery Business Even Without Major Corporate Backing!
For starters, you’re going to systematically utilize, some built in potential front or back end income multipliers. Huh?
Meaning; you’ll initially start, by reaching out to at least 10 or 15, of your most loyal, corporate,(read that as), local small business and or service provider owner customers.
And find out, if they periodically sponsor any “Customer Appreciation” and or “Customer employee of the X” awards!
If they do sponsor any such recognition. It would definitely be in the long term best interest of your business, to provide your gourmet goodies to the business and or their staff.
And do so, at a set (fixed) discount. This way, the recipients will keep returning.Hopefully for years and years to come. 😀
Or if they periodically sponsor any of type of in house free drawings. You offer to provide, some extremely time sensitive, discount coupons, for brand new first time customers only.
As some extremely valuable secondary prizes valued at X. 😀 (This one incredibly simple strategy alone, could easily add nicely to your long term bottom line.When you implement it correctly.)
Here Is Where And How You put Some Of Your Most Effective Business Growth Strategies Into Practice!
Here’s the next leg of your long term marketing stool. Reach out to a few, up and coming, local magicians. And ask if they’d like to increase their long term gross profits, by at least 25% or more! 😀
With very little upfront out of pocket cost. Basically, you will offer to strategically cross promote their services with yours.Say what?
For ex: whenever a parent, grandparent and or guardian comes into your bakery, with kids twelve and under.
You and or your professionally staff, will place an extremely time sensitive, market tested, brand new, first time customer only, discount coupon, from one of the local magicians, inside your semi qualified customers outgoing bag(s.)
Try Not To Get Too Hung Up On Only Using And Implementing So Called Free Business Growth Strategies And Or Tactics!
And the market tested discount coupon, (will) either drive the potential 1st time customer, to the magicians strategically crafted lead capture page.
And or their state of the art WordPress website. Provided they have one. 😀
And or, it will simply invite the potential 1st time customer, to book a show, and save X% off.First time customers only.
And of course the flip side is. These local magicians, will agree to pass out some of your very best, market tested, extremely time sensitive, 1st time customer only discount coupons, at their local shows and or local conventions.
This simple cross promotional marketing strategy. When properly implemented, will allow you to systematically grow your profits, for virtually pennies on the dollar.
This is the tip of the marketing iceberg, of how to grow your bakery business, even in the face of some incredibly fierce competition. Any questions?
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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