Please follow and like us:

How To Increase Sales In Retail! (Without Going Broke While You Do So!)

 (Especially When You’re Severely Under Capitalized, Got Tons Of Local Competition

And Your Social Media Marketing Skills Aren’t Really That Good!)

Ever hear of a powerful marketing strategy often referred to as the “Team 100” referral generation marketing strategy? If you’re curious at all, that powerful strategy is absolutely one of the keys, to how to increase sales in retail! 

I originally learned about this extremely powerful strategy from one of small business marketing expert’s David Frey’s totally excellent marketing courses, on ‘how to make it rain referrals!”

In it, he shared some incredibly powerful “think outside the box”  effective referral generating ideas and strategies! Some of which, makes you scratch your head and say” man, how come I didn’t think of that?”

How To Increase Sales In Retail!

(Even In The Face Of Incredibly Fierce Local Competition!)

Typically during the brunt of a nagging local recession and incredibly fierce, increased competition. You might expect to see your gross profit margins begin to continually shrink, correct?

Well, they probably would, were if not for the next extremely powerful marketing concept, that you’re about to be exposed to! It’s basically a take off of the “Team 100” referral generation marketing strategy.

Let’s say you’ve got a local Mom & pop breakfast type of restaurant. And you serve donuts, bagels and of course, you also serve coffee and tea etc. Here’s an inexpensive sort of  joint venture referral type of marketing strategy, that could potentially work extremely well for your restaurant.

Let’s say there’s an extremely savvy local company that sells high end gourmet coffee. And they’re aggressively looking for some proven alternative ways of effectively growing their customer base!

Without having to constantly spend a ton of money on the usual suspects! You know,  hit & miss local direct mailers and outrageously expensive radio & TV ads and local newspapers and pennysavers etc.

So after much careful consideration, paid consulting, internal polling, focus groups and the whole nine yards! (Sorry, if any particular constituency group was overlooked!)

This aggressive local gourmet coffee retailer reaches out to several local restaurateurs (such as yourself) and offers the following potential marketing solution, to help everybody make more money. With dramatically less traditional upfront cost and effort! (Yeah right!)

Of Course You Want More Sales!

(The Question Is Do You Want To Constantly Spend More Money To Accomplish It?)

Let’s say after they run their initial numbers, if they go the outrageously expensive, traditional advertising route, they’re looking at a new customer acquisition cost of anywhere from $40 – $65 dollars per lead! Ouch!

What if instead, they could invest anywhere from $4- $19 dollars per lead! Say what? Here’s how; let’s say your local breakfast/lunch and dinner, suffers from two traditionally really slow days.

Let’s say Thursday’s & Sunday’s! So here’s  how the two of you increase your respective profits, for literally pennies on the dollar. Since you both need the exact same customer, but your’re non competitive to each other.

The savvy coffee retailer will readily invest $100 dollars per day, (per store) by allowing you to give away a free morning cup of their high end gourmet coffee, to the first 25 customers of your diner, that spend at least $7 dollars or more. (Or X.)

Those 25 customers of yours now get exposed (very inexpensively) to the high end gourmet coffee of this local high end gourmet coffee retailer. And you best believe a certain percentage of them will want to know how and where they can purchase some to make at home.Right?

Word will also quickly spread that some of your customers, (the first 25)  that spend at $7 dollars are getting  a  free cup of delicious tasting  gourmet coffee! You’ll start to notice more patrons!  Especially on your traditionally slower days.And some of them will definitely be spending more than $7 dollars.And instead of the savvy coffee retailer spending anywhere from the traditional $40-$65 dollars per lead!

That’s an improvement, right? And your diner is quickly becoming all the rage around the water cooler and on social media!

Now the savvy gourmet coffee retailer is strategically investing anywhere from $4-$19 dollars per lead! And just in case you’re wondering where the higher end figure of $19  dollars per lead comes from?

That’s because once per week (or per month) the diner will give away a free pound to the grand prize winner that enters the diner’s free drawing to  (either win a free breakfast or lunch valued at X!

And some of the secondary winners, that just happen to love high end gourmet coffee, get to enjoy a free pound of your best java! Of course, they’ll take some to work as well! Don’t you agree?

That my friend, is how to increase sales in retail. Without going broke while you so! Any questions?

Please list at least two simple spin off concepts (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 Digg or tweet this. Thanks!

And be sure you grab your explosive free 22 step small business marketing idea kit series, because it will help you increase your profits by at least 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!