How This Major Marketing Mistake Constantly Hurts Small Business Owners!Part Three
So did you notice in part one, of this ongoing series,how many incredibly dedicated, semi cash starved small business
owners, and or service providers, constantly make the same major marketing mistake?
Which is, not knowing, and or having any realistic idea, ‘what’ their ideal customer, patient and or clients, total lifetime customer value is.
And therefore, their hands are sort or handcuffed. Because without this critically important information.
They (or you!) literally have no realistic idea,’how’ much money, you can or should, actually invest, in order to consistently generate, those all to important, first time customers, patients and or clients etc.
Nor do they (or you), have any realistic idea,’how’much you can comfortably and realistically afford, to pay your top or best performing affiliates, joint venture, (JV) and or cross promotional partners, on either the front or back end of your sales funnel.
Savvy Small Business Owners Can Definitely Learn How To Convert A Major Marketing Mistake Into Long Profit Potential! (And So Should You!)
Quickly getting back to our hypothetical marketing example. Since this extremely marketing savvy small business owner, who owns and operates, a successful retail jewelry outlet.
And they already know, their ideal customer, is worth somewhere in the neighborhood of $15,000 dollars, over the next five to seven years. And they’ll gross-roughly- 70% of that, or close, or a little bit more than $10,500 dollars, for every new customer they add to their customer base.
And now, they’re successfully joint venturing, with a local women’s, upscale clothing store owner, as well as a local women-s boutique store owner, because both of these local vendors, cater to the jewelers ideal target prospect.
And since neither owner, is really as polished a marketer, as the astute jeweler and her staff currently is. This is a potential, untapped goldmine of marketing possibilities waiting to happen.
Really Effective Lead Generation Strategies Can Dramatically Lower Your Long Term Cost Of Sale!
So rather than throwaway tons of money, on outrageously expensive, (and dismally performing),traditional massive advertising campaigns, the way her major competitors constantly do.
Instead, this extremely marketing savvy jeweler, prefers to help these two local vendors, attract more influential local women to their shops, because doing so, generates some indirect and direct exposure, for the jeweler as well!
Case in point,one of the very first ways, the jeweler will generate a ton of continuous, on and offline, positive marketing buzz for their business, is by allowing both the owner(s) of the women-s clothing store and the women-s boutique shop, to purchase up to $5,000 dollars worth of their very best, eye catching designer jewelry, for their actual cost!
Which means, in all likelihood, these various eye catching items, will include,a beautiful diamond studded necklace of some kind, right? And some (simply to die for) diamond studded earrings.
A bracelet or two, and a pendant of some kind. And they will also allow their staff, to purchase up to $3,000 dollars worth of eye catching bling, at their actual cost as well.
Your Small Business Marketing Strategies Carry An Awful Lot Of Weight! So Don’t Discount Their Long Term Potential Impact!)
Ladies & gentlemen, before the marketing ball truly gets rolling, think about, (both) the long and short impact, this mega proven marketing ploy, will in all likelihood probably have, on consistently attracting future customers.
Now each time,a local higher income, influential woman shopper enters one of these vendors stores.
Who’s fabulous bling, or diamond studded earrings, will they see, (either) hanging around the owner (or their) staffs neck, or on their ears? Bingo! And do you think, (every day), a certain percentage of these highly influential, six figure earning local women, will definitely want to know, where and ‘how’, they can get hook up too? Oh yea!
That’s ‘why’ the jeweler, will give both the owners, and their staff, 100 of their market tested business cards each.So these women, can enter the jewelers, free monthly drawing, for their chance to win, one of those incredibly beautiful, $7,000 dollar, diamond studded necklaces!
(Please see the sample lead capture page screenshot image just below. Which was made, using my paid email service provider of choice, Aweber’s rather basic, lead capture page editing software, in all of twenty minutes!)
How This Major Marketing Mistake Constantly Hurts Small Business Owners!Part Three
Some Of Your Very Best small Business Marketing Strategies Don’t Have To Involve Local TV And Or Radio!(In Order To Be Extremely Profitable!)
Now of course, only one female customer per month (and or every quarter) can actually win the grand prize, right? But all the other 99% of the runners up, automatically get an extremely time sensitive, X% off their next three purchases,VIP, brand new customer only, discount gift certificate for their trouble.
Plus, (and far more importantly), once the vendors and their employees, go back out into the real world. You know they’ll have some over the top stories to constantly tell, right? Both on and off social media!
Because they’ve potentially got, sisters, extremely close girlfriends, relatives, in laws, daughters, neighbors and other people they regularly attend high level social events with etc!
Who they can routinely pass their personalized business cards out to. Because they’ll sign the back of the jewelers market tested, direct response type of -list building- business cards.
And each month, the top three people, who refer the most business, will be handsomely rewarded,(bribed) by the jeweler! But more about that incredibly profit producing strategy in part four, okay?
Until then, are you starting to fully appreciate, ‘how’ not knowing, what you can or can’t comfortably afford to invest, in order to continuously generate some first time customers,patients and or clients etc. Is a major marketing mistake, which hurts a ton of, otherwise, extremely smart, and hard working small business owners,startup entrepreneurs, and or service providers etc? Great!
See you in just a little bit, in part four! 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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And be sure you grab your explosive free 22 step small business marketing idea kit series,
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And help you master your effective communication in marketing skills.
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