So Creating Opportunity Hinges On Leveraging A Great Tasting Chocolate Chip Cookie?
Who do you know who also loves some extremely great tasting chocolate chip cookies? Wanna take a wild guess as to “what” the actual hard cost is to make one of this extremely great tasting ‘Big Chunk” chocolate chip cookies is?
Strictly for the sake of a workable marketing example. Let’s say it’s just one dollar. Which means for a local Mom & pop, single location, non franchised bakery business.
They or another local non directly competing vendor could initially invest $3,000 or X amount of dollars in order to bake $3,000 “Big Chunk” chocolate chip cookies. Now they have a proven marketing springboard for creating opportunity.
And rather than sell them for at least double the price of cost. Instead this local Mom & pop bakery will strategically use them to not only create a ton of on and offline word of mouth and mouse buzz.
But to create some powerful and highly influential local goodwill “Ambassadors” who can and will help spread the word. For literally pennies on the dollar.
A How To Leverage A Little Market Tested Word Of Mouth Advertising Into Some Major Income Streams!
So imagine the following potentially profitable marketing scenario unfolding. Rather than continually spending, (more like wasting!) anywhere from $25,000- $40,000 dollars a month on those outrageously expensive, dismally performing local billboard ad campaigns.
Instead you or one of your major competitors decide to inexpensively A/B split test the following promotional strategy. First you’ll form a mutually beneficial JV (Joint Venture) arrangement with at least two local, non franchised, Mom & pop bakery business owners.
And part of you or your major competitors long term marketing strategy is to ethically bribe both owner(s) and their current and future employees or their current or future vendors as well.
Say what? And ‘how” will you or your major competitors go about systematically doing so? Great question and so glad you finally asked. First you’ll allow either the owner(s) or owners and partners of the bakery to purchase one state of the art 55 inch flat screen TV at your actual hard cost. Say what?
And every current or future employee or current and future vendor of the bakery. They get two extremely time sensitive gift certificates to you or your major competitors retail appliance store.
And provided they join your opt in email list and drag a friend with them to your store whose at least 18. Before your 72 or X hour expiration date window expires.
They automatically get to purchase one state of the art tablet at your actual hard cost. And as long as their guest also joins your opt in list before they leave you store.
They also get to purchase any one product of their choice and save 30% off up to $1,000 dollars
So How In The World Are You Or Your Major Competitors Going To Combine Ethical Bribes With Marketing Some Great Tasting Chocolate Chip Cookies To Systematically Make More Money?
For just a second -entrepreneur- think about the powerful long term marketing psychology going on here. Huh? First, let’s say this particular single location, mom & pop bakery business has an extremely hard working husband & wife team. And they currently have seven employees total.
Five of them are full time and the remaining two are part timers. But these nine individuals all know at least 25 other locals apiece, do they not? So nine just potentially turned into 225 other locals have just been informed someone they know just got hooked up.
And on average about 30% of these individuals or 67 other locals are ready to become your or your major competitors first time customers within the next 90 days or less. (225 x .30% = 67.)
You throw in a few local vendors whose business or service has at least 25 employees each or more and multiply those figures by 25. And hopefully you’re starting to smell the long term, previously untapped marketing possibilities here. Am I right?
And because you or your major competitors already know your ideal customers total lifetime customers value metrics. Which are somewhere between $400- $11,000 dollars. Give or take over the next five to year period.
Entrepreneur There Is Far More Marketing Flexibility In Knowing And Understanding Your Ideal Customers Total Lifetime Customer Value Metrics!
Knowing this critically important information can allow you to easily raise the long term profit generating potential of you or your major competitors ethical bribes. Say what?
Which means for an extremely limited time, (provided) the local bakery owner(s) agree to at test inexpensively test (on your marketing dime!) the initial front end of your non traditional lead generation strategy.
You’ll allow the vendors (the owner(s) and their current and future employees for an extremely limited time. They can either drag a friend with them to your store whose at least 18. Before your 72 or X hour expiration date window expires.
And provided both the vendors and their current and future employees join your opt in email list. They get to save 60% off any one purchase up to $2,000 dollars. Say what?
Or they come alone and they only save 10% off up to $200 dollars. (Not really a choice now is it? Agreed.) And you haven’t even figured in ‘how” or “what” you or your major competitors will be doing with those 3,000 or X number of “Big Chunk” chocolate chip cookies.
Which you or your major competitors can buy at the local bakeries actual hard cost of one dollar. (That’s coming up shortly in part two, okay? until then are you now starting to see and appreciate “how” creating opportunity is really nothing more than a particular type of mindset? Good answer.
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