Isn’t It Time You Stopped Treating Your Business Like A One Night Stand!
So you definitely have no problem, scaling your business or service, correct? Great answer. BTW me too. Q.) So why in the world, are you and your major competitors, constantly treating your business or service, like it’s a gloried one night stand? Say what?
Think about how you not only market, promote or advertise your business, service or products. But how you actually sell, promote or market them to your very best customers o clients. Huh?
Meaning you go to all the trouble and ongoing expensive of advertising or promoting your totally awesome products or services.Then you persuade them to become a customer.
And then you all but abandon then and quickly move on the next one. And so on and so forth. Sound all too frighteningly familiar? Meanwhile. If you or your major competitors, ever bothered to do the math. You would quickly discover. There is a ton of untapped, long term marketing potential, in your current, future and in some cases.
Your past customers or clients. As you’re about to discover.
So Why In The World Would Any profit Seeking Business Owner Or Service Provider Treat Their Business Like A Glorified One Night Stand?
It’s a great question. And sadly, it happens far more, than you may currently realize or appreciate. case in point. Think about this incredibly simple, (albeit), hypothetical marketing example. And odds are, it happens several times a day, (in practically), in city or relatively little town you can think of.
Let’s say there’s a incredibly popular, single location Mom and pop bakery. Which literally generation of families have patronized for years. And there’s also, a non franchised, single or double location, Mom & pop styled, retail appliance center.
Which has being doing incredibly well for years. Does this sound like a typical city or town near you? Okay. This is good to hear. Now then. Let’s say the bakery sells a ton of, (certainly not great), but incredibly good tasting coffee, cocoa, during the brutally cold winter months
And extremely good tasting lemonade or ice tea, during the brutally hot summer months. No real surprise here, so far, right? And on the flip side. The popular retail appliance center, sells tons of lower and mid level coffee makers.
That said. Here’s the proverbial $64,000 dollar question. Do you honestly believe, either business, would have a problem, with easily increasing, their overall, gross profits, for literally pennies on the dollar? Me either.
Why do you so suppose, they haven’t consistently done so, before now? Gear question.
Stop Only Seeing And Laser Focusing On Your Initial Front End Sale!
Meaning: First in the case of the local bakery owner. Surely you’ve noticed by now. On average. Those 20-50, men & women, who every week or at least a couple of times per week.
They stop in and buy, their usual. Whatever their particular usual is. But let’s say they usually buy, an Xtra large coffee. And at least two donuts or two toasted bagels w/cream cheese.
Or whatever. For just a moment, think about how many times per year, like clock work, they come into your shop. So much so. Both you and at least some of your staff. Literally know them by name. Correct? Then you throw in, how many times, they buy at least a dozen or so donuts or pastries.
And nor to mention, the occasional birthday, retirement or graduation cake etc. Plus the occasional catered party event etc.
Add it all up. And the fact they’ve been consistently doing this, over the past five plus years. If another local, non directly competing vendor, (aka) potential Joint Venture (JV), or potential cross promotional partner, starting systematically supplying you or your major competitors, with local customers.
Who initially, come to your bakery or whatever your particular business or service is. And they were allowed. In the case of your bakery. To bring a free, plastic, “Big Gulp” cup. Which was given to them, by your cross promotional or JV partner.
And instead of them paying, the normal retail price of anywhere from $4.79 – $5.29 per cup. They only paid .99 cents per cup.Huh? Think about the laundry list of additional, long term repeat sales, you or your major competitors, will start systematically making. Going forward. For years and years to come.
Are You Finally Starting To Appreciate The Long Term Back End Residual Repeat Sales Possibilities!
Which is where, the local, non directly competing, retail appliance dealer comes in. We’ll reveal, a rather basic, cross promotional strategy here. But dive even deeper, (in just a little bit) in part two. Okay.Thanks.
So every time, a local customer, buys a coffee maker from the retail appliance center. They automatically receive, a freer plastic, “Super Big Gulp,” mug from the retailer. Say what?
And they’re told. Every time they or anyone they let temporarily let borrow the cup. They get to purchase an Xtra large beverage of their choice. And only pay .99 cents per cup. Huh?
First of all. Think about the constant, positive, word of mouth and mouse buzz.This incredibly simple marketing gesture, will constantly generate. Both on and off of social media. Don’t you agree? Me too.
For one thing, the retail appliance center will definitely look like a hero. Right? And the extremely mom & pop bakery owner(s.) They just got introduced to another local customer. And rest assured, a certain percentage of them, will not only stop by more often.
It’s Either You Or Your Major Competitors!
So they can fill their “Super Big Gulp” mug, with the beverage of their choice. But they’ll only pay, anywhere from .99 cents – $1.29 to do so. Say what? Then, over time. Some of those one shot customers, will start routinely buying, donuts, fancy gourmet pastries, gallons of coffee. A dozen donuts or birthday or retirement or graduation cakes etc.
Is that perpetual wealth chain. Worth initially starting, simply by allowing these brand new customers, to purchase their Xtra large coffee or cocoa, for just .99- $1.29 per cup. Instead of paying anywhere from $4.79- $5.29 per cup.
And going forward, do you see and now better understand. How you and at least some of your major competitors, may be accidentally treating your business or service, like a meaningless one night stand? great. See in just a little bit in part two.
Stop Leaving Fortune On The Table For Your Major Competitors!
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