Performance Gaps: If You look Real Close You’ll Definitely Uncover A Few Potentially Profitable Ones!
Have you also noticed “how” certain previously unmet performance gaps are sort of obvious? While others not so much. And just for the record. The type of performance gaps being referred to here. Are the types of unfilled marketing/promotional opportunities for you and I.
(Or unfortunately some of your major competitors to strategically swoop in and start generating positive cash flow generating first time customers or clients for literally pennies on the dollar. When in reality it should definitely be you and I either cashing those checks. Or adding nicely to your bank account ever week or month.
So let’s see “what” you can do to make sure it’s your bank account being systematically padded, shall we?
Entrepreneur A Little Strategic Performance Gap Analysis Can And Definitely Will Go A Long Way Towards Helping You Earn A Whole Lot More Money! (For A Whole Lot Less Effort!)
Case in point. For those of you who’ve been around for a while in America. You can not remember but appreciate when a (then) brand new, nationally franchised, (now iconic!) pizza delivery chain was just getting started. And desperately trying to make both a positive name for themselves. And establish a bankable brand too.)
And part of their national branding and long term marketing strategy was. How they could and would deliver, fresh, hot pizza in 30 minutes or less. (Or your order was free.) And true to their word. Whenever (for whatever unforeseen circumstances totally out of their control!) they failed to make good on their promise.
(Which they constantly repeated in all of their outrageously expensive, prime time radio, TV and select major newspaper ads etc.) They made darn sure their target market knew. Having cold pizza delivered was now somewhat to their advantage.
Because their target market definitely wasn’t expecting gourmet pizza being delivered, right? Especially at the prices they were paying. They were just tired of it being delivered cold. And on top of this. Being just average tasting at best.
So How Or What Could A Little Performance Gap Strategy Do To Help Boost Their Or Your Bottom Line? (And Still Make Everybody Somewhat Pleased With The Final Outcome!)
First of remember each franchised is owned or co-owned by average men & women who definitely didn’t start their franchises with a pile of money, right? So when the evitable situations arise where they can’t make good on their much advertised guarantee.
Look at just a few of the fixed costs (business expenses) they have to cover for.
1.) The actual cost of the basic ingredients in order to make the different types of pizzas they serve.
2.) The employees hourly salary who delivers the pizzas.
3.) The different types of Insurance or bonding needed in order to open the business in the first place.
4.) The more than likely used cars the delivery driver(s) use to deliver the pizza.
5.) The various local ad campaigns used to advertise/promote their new franchise. Because regardless of “how” many times the franchise owner has to make good on their guarantee. They’re still out the front end advertising/promotional costs, correct?
6.) The long term systematic loss of a certain percentage of local customers. Who even though they may have gotten their order free. Want a reliable pizza deliver business to consistently patronize.
And these are just a few of the franchise owners immediate concerns, agreed?
This Is The Type Of All Too Common Situation Where Extremely Marketing Savvy Entrepreneurs Take Lemons And Make Lemonade!
So imagine (if you will!) “what” will inevitably start happening. When a nationally recognized, non directly competing retail appliance chain. Enthusiastically steps up. Because they already have a pretty good idea what their ideal customers total lifetime customer value metrics are.
Which “why” they or one of their major national or Internal competitors is more than willing to at least strategically test the following strategy or a similar concept.
They’ll gladly refund the national pizza chain, get this. Not only their actual hard cost for the pizza delivered. But an additional 20 or X% of their total prorated cost for every pizza they deliver which they end giving away for free. (Say what?)
Provided the pizza chain gives their customers one of the appliance dealers best market tested, two sided, extremely time sensitive gift certificates. Side (A.)invites the recipient to join their opt in email list. In order to enter the retailers monthly free drawing. For their chance to win a $5 or X thousand dollar “Home Entertainment Deluxe” shopping spree credit.
And side (B.) invites the recipient to come to the retailers showroom or one of their major competitors local store(s.) On or before the ten or X day expiration date window expires. They (for whatever reasons) come alone.
Whenever And As Soon As You Possibly Can Entrepreneur! (Start Strategically Piling On Those Potentially Bank Account Filling Ethical Bribes ASAP!)
And they save 10 or X% off. some rather non impressive savings rate, agreed?
However, simply for dragging a friend with them whose at least 18. Before the ten or X day expiration date expires. They can save up to 40 or X% off their total purchases. Up to $1,500 or X amount of dollars.
And as long as their guests also joins you or your major competitors opt in email list before they leave the store. They too get to say up 30 or X% off up to $1,000 or X amount of dollars. (And “if” for whatever reasons they decide not to join you or your major competitors right on the spot. Then they only save 10 or X% off up to $200 or X amount of dollars.
Hopefully without having to go any further. You should be starting to appreciate “how” some simple performance gap analysis can potentially lead to some previously overlooked marketing or promotional opportunities. Don’t you agree?
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