How To Leverage Practically Any Local Economy With Proven Revenue Generation Strategies And Tactics!
So “what” do you think the average business owner, (small or otherwise) and or service provide does. Whenever the cost to borrow money goes up? In other words “what’s” their or your short or long term game plan pivot whenever short or long term interest rates go up?
Of course you can clearly appreciate whenever the cost to borrow money for either a local consumer or local entrepreneurs temporarily goes up, right?
So how do you tailor any type of proven revenue generation strategies or tactics to leverage the current or future direction both short or long term interest rates?
They you and I suddenly have less income to do or invest in other parts of your business or service, correct? And it’s this temporary or long term negative affect on your/our cash flow which can and definitely will make all the difference, correct?
So What Type Of long Term Revenue Generation Activities Are You At Least Strategically A/B Split Testing?
Case in point. Let’s say things are going pretty good and for the most part your local economy is humming right along.
Then suddenly the overall cost to borrow money. Which is reflected by both the direction of the short or long term interest rates.
It ticks up a point or point and a half. And you own or manage a local retail furniture store.
On the surface this can definitely have a semi negative affect on both future and long term gross sales revenue, correct?
Because for one thing. Now a certain percentage of local consumers can’t as easily qualify for a mortgage to buy their first or second home.
Which means the locals will be purchasing less new future both now and in the immediate furniture, right? And by the same token the party selling their home or condo or townhouse etc.
A certain percentage of them are also less likely to buy new slightly more expensive furniture or appliances. And local consumers when faced with higher and higher costs (interest rates) on their current or future car loans, credit cards or short and long term mortgage rates.
They also tend to put off these major purchases until interest rates go down. And these delays clearly negatively affect the bottom line for business owners or service providers, agreed?
And What About When Both Long And Short Term Interest Goes Down?
And by the same token as both short and long term interest rates take a much anticipated dip. Now more first time borrowers can finally qualify to either buy a new or second home. So the mortgage industry starts booming again.
And more new and used car loans are completed. More aspiring entrepreneurs can now qualify to borrow money to strike out on their own and finally start their new business or service. And as local consumers can qualify to borrow larger and larger amounts of money. They definitely tend to spend more of it, correct?
And their additional spending means both local business owners and or local service providers can also hire more locals both full and part time.
And “what” if an extremely marketing savvy commercial broker or local developer formed some type of mutually beneficial JV (Joint Venture) revenue sharing arrangements. With other local non directly competing vendors.
Because once a tenant signs a long term commercial lease of some kind. They may need or want new office furniture, right? And would you or they have a problem if the commercial broker just happened to offer some extremely time sensitive gift certificates.
So No Matter Which Way Short Or Long Term Interest Rates Go! (There’s A Proven Strategy Or Tactic To Leverage It!)
Which the general public doesn’t have direct or indirect access to yet. And by extension these gift certificate recipients. A percentage of them can and definitely should be ethically bribed to drag a friend with them. To the retail furniture stores showroom. Whose at least 18.
This proven marketing strategy saves a ton of traditional front end advertising costs. Plus sets these entrepreneurs up for an even more potentially profitable back end income generating windfall. Don’t you agree?
And another proven ethical bribe is to offer even more front end discounts to potential consumers. Each time interest rates go up.
Because from a long term statistical standpoint. Based on their ideal customers total lifetime customer value metrics.
It definitely make sense to offer larger front end percentage discounts to first time customers. This initially gets them in the door. And hopefully keeps them not only coming back.
But ultimately converts at least some of them into proactive goodwill ambassadors. This is just a small sample of “why” both you and or your major competitors should be proactively implementing or A/B split testing.
(As often as possible BTW!) some type of market tested revenue generation strategies or tactics. Don’t you agree?
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