How Understanding Effective Lead Generation Strategies Can Give Your Small Business The Edge!

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How Understanding Effective Lead Generation Strategies Can Your Small Business The Edge!

Without a doubt, today’s typical small business owner and or service provider, has more than enough to be, (both) concerned and worried about, correct?

After all, either each week or every other week, they’ve got to meet payroll right?

Provided, their lead generation strategies and or tactics, are actually working.

And they need to pay commercial office space, unless they work from home and or primarily online.

And if they do happen to rent or lease, any type of office/warehouse space, (on a monthly basis.)

They also probably have other weekly or monthly cost, like advertising and or ongoing marketing/promotion or administrative costs.Correct?

And like every other semi cash strapped small business owner, any and everywhere they can systematically cut out of pocket cost, without sacrificing one iota of quality, is always (welcome) music to their ears, correct?

And one of those major areas, if they were to really focus on, they could drastically reduce their overall cost, and still maintain and even dramatically grow their business, and or practice, by leaps and bound.That area of course, is lead generation.

It offers far more extremely viable marketing options, that the typical small business owner, and or service provider, really hasn’t even contemplated yet! Take a much closer look and see for yourself!

So How In The World Does Understanding Effective Lead Generation Strategies Give Your Small Business And Or Service A Competitive Edge?

Let’s use a very familiar service provider, that practically every one can relate to. Let’s suppose you run a very popular, (single location) upscale hair or nail salon. And you have a total of seven chairs, including yours.

And you’re open five days per week.On average, you and your hair stylist service ten customers each per day, which equals 70 customers per day, over your typical twelve hour day.

So over the course of five days, you average 350 unique customers per week.

And over the course of a 52 week year, that equates to 18,200 individuals that help you keep the lights on and meet your payroll obligations, and other costs of doing business.

(52 weeks per year x 350 unique customers per week = 18,200 unique paying customers per year!)

It’s Really Not A Stretch For You To Take Your Lead Generation Strategies To The Very Next Level Or Two!

But guess what? There is another local business or two, that needs and currently relies on your exact same customer base! And they are non directly competitive to your business and or service! Correct?

And since they are currently spending an outrageous fortune to reach them. This is why, you can definitely gain a major advantage over most of your non marketing savvy competitors. Simply by knowing “how to” articulate the mega benefits of lead generation.

Understanding Basic Lead Generation Costs And Benefits Can Be Leveraged Into A Major Marketing Advantage!

Case in point. Let’s say an extremely savvy (local) jeweler, that definitely wants to lower their first time customer acquisition cost.

So they approach you about strategically leveraging your customer base.

(Clearly that’s not the way they present it, but in reality, that’s exactly what they mean!) And here’s what they propose.

They will gladly allow both you and every one of your hair or nail stylist, to purchase one of their extremely popular, $1,500 dollar, diamond studded necklaces for their actual cost, plus any and all applicable taxes & fees etc. Huh?

Don’t Forget And Or Neglect The Proven Power Of Ethical Bribery!

Plus, just (because) you’re the owner of the hair or nail salon, and in order to really sweeten the pot.

The extremely marketing savvy jeweler will gladly also throw in a pair of extremely (eye catching), diamond studded earrings, which would typically retail for $350 (or X) dollars a pair!

They’ll give them to you for free, and sell your staff any pair they like, that would normally retail for $200 dollars a pair, at their actual cost! Up to $500 dollars.

Your Small Business Definitely Needs A Pro-active Marketing Strategy!

And in return, all you and your staff has to do is, agree to pass out one of the jewelers best market tested, two sided business cards, whenever anyone asks where they got their awesome looking bling! 😀

(And rest assured entrepreneur, that particular question, will definitely get asked!And often!)

Side (B.) of the jewelers market tested business card, directs the reader to the jewelers state of the art, mobile responsive, WordPress lead capture page.

So the readers can enter their monthly free drawing, for a chance to win a beautiful $2,500 dollar, women’s diamond studded necklace!

Small Business And Effective Lead Generation Equals Big Profits!

Since you (at least) understand the concept of repeat customers, and therefore, total lifetime customer value.

Because after all, repeat customers spread out over many years, is the real bases of your hair or nail salons long term success, right?

Granted, while you’ve never actually put a pencil to the numbers before now. You can readily see and appreciate “why” this extremely marketing savvy jeweler is so willing to, temporarily forgo any front end profits.

For the chance to get continuous access to some, (all important) potential first time customers, for literally pennies on the dollar!

Knowing Your Ideal Customer Or Clients Total Lifetime Customer Value Numbers Definitely Helps You Better Utilize Your Advertising And Or Marketing Budget!

So now that you really start to tabulate the numbers. Here’s “how” the gross figures break down.

On average, about 30% of your total yearly number of customers, that ask for the jewelers two sided business card.

They actually enter their free drawing, and make that all important very first purchase!(18,200 x .30% = 5,460 brand new first time customers.)

Your Small Business And Or Service Definitely Has The Capacity To Ear A Whole Lot More Than You May Currently Realize And Or Appreciate!

So 30% of 18,200 equals 5,460 brand new first time customers. And let’s say their average purchase equals just $300 dollars (or X.)

Those 5,460 brand new first time customers, (gross front end profits only) equals a staggering $1,638,000 dollars! (5,460 x $300 dollars – $1,638,000 dollars in gross profits.)

Divide that gross amount by 12, and that works out to a (totally respectable) $136,500 dollars per month, in additional gross profits, from just one upscale hair or nail salon!

Does Anybody Have A Problem With Converting Their Lead Generation Efforts Into A Major Profit Center?

After calculating these (eye opening) gross figures, going forward, here’s what you now propose to the extremely savvy jeweler.

Since they’re earning a proverbial fortune, leveraging your extremely loyal customer base, that has literally taken you years to build up!

It definitely makes total economic sense, for the jeweler to simply write you a check for a set amount each month and just refer to it as their marketing (lead generation) cost!  😀

So a monthly set marketing fee of $10,000 dollars, (or X) payable directly to the (hair and or) upscale nail salon owner, might break down as follows.You take the first $2,500 dollars (or X), and pay your monthly commercial lease or rent.

You take the next $1,000 dollars (or X) and pay your personal rent/lease and or mortgage etc!You take the next $400 to $500 dollars and make your car and or car lease payment!

Learning How To Develop Some Extremely Profitable Lead Generation Strategies And Or Tactics Can Definitely Open The Door To Long Term Marketing Opportunities And Or Possibilities!

You can also allocate an additional $400 to $500 dollars per month for your personal groceries!

So in other words, with the money this extremely savvy jeweler is grossing off your extremely loyal customer base per month.

On the front end of their sales funnel only, the monthly marketing fee you charge them, is a fraction of the traditional cost, for them to identify that all important first time customer,right?

Keep Building Potentially Profitable Long Term Power Partnerships!

And if for any reason they were to try and deny the long term profitability of inexpensively accessing your customer base.

Knowing and understanding “what” you do about effective lead generation strategies,you can definitely approach their -main- local competitors, could you not?

My friend, that’s just a small sample of “how” your small business can and will gain a decided edge.

Simply by understanding and implementing, an effective lead generation strategy! Any questions?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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