So Why In The World Shouldn’t You Consistently Monetize Your Daily Foot Traffic?
So do you currently run your own small business or service? Or are you planning on starting one anytime soon? If you do currently run a business. Do you currently have any realistic idea whatsoever? What your ideal customer or clients total lifetime value customer metrics are?
Even if you run a local corner store. You must have a few repeat customers, right? This being the case. You can at least develop a semi accurate and some what realistic idea what your average, foot traffic repeat customer is worth to you per week.
Then simply multiply their typical -average-weekly gross amount by the number of weeks per year they usually visit your X. Where they actually come in and spend X. And if you they know their annual total typically last at least two or three or X number of years.
Before they move. Now you know what you or your major local competitors can generally afford to comfortably invest .In order to keep them as an extremely satisfied customer. Who not only returns often. But spends a little more each time. Don’t you agree?
Wanna Know How To Make Your Small Business More Successful And Profitable?
Especially if or since it doesn’t automatically involve borrowing more front end capital? Initially you or your major competitors, will find some inexpensive, albeit creative ways.
To make both your current and future customers. And get this. Both your current, past and future employees more valuable to your business or service long term. Say what? How you skeptically ask? Simple. By allowing and encouraging and enabling them to become far more entrepreneurial than they currently are. Huh?
Here’s how. Since you’ve already asked a local X? In this particular case. It’s a local retail appliance dealer owner. Your go to “Magic question.” Which is. “Is it okay to periodically refer you new customer or clients?” Once the 95-98%, (or whatever) the typical percentage is, who generally say yes to the initial front end question.
You or your major competitors immediately respond with. “And by the same token. As long as it doesn’t interfere with anything you currently have going on. Or will have going on in your immediate future. Are you okay with periodically returning the favor?”
Again. As long as you got a yes on the initial front end. Typically you’ll also get a yes on the back end of your question. Typically 95-98% of the time.
So How Does Systematically Asking The So Called Magic Question Help Increase The Long Term Profitability Of Your Business Or Service?
Great question. Actually there are several potentially profitable ways. So let’s start with the basics. Fair enough? Since the retail appliance dealer, often stops in usually om Mondays.
And purchases an Xtra large coffee and at least two bagels w/cream cheese. Or at least two big corn muffins. And the two of quickly catch up on whatever has taken place.
In terms of both your home and business life. As well as local or the national sports scene etc. You ask him or her.Which main local mediums are they consistently using? In order to generate their best semi qualified leads. And how much they typically invest, in order to generate a semi qualified lead/prospect?
And because they’re sort of all over the place. In terms of outrageously expensive, local prime time radio and TV ads. And not exactly cheap Sunday newspaper ad inserts. And let’s not forget those outrageously expensive, dismally performing local billboard ad campaigns.
Which typical cost anywhere from a low of $15,000 dollars per month. In the more rural areas. To upwards of $25,000 – $40,000 dollars per month in the bigger far more robust city markets.
Why Keep Wasting A Fortune On These Outrageously Expensive Dismally Performing Traditional Ad Campaigns?
So here’s what you or your major local competitors initially propose. You’ll create a huge sign and place it somewhere obvious in your store, so even music legend Stevie Wonder couldn’t miss it.
And it will say something along the lines of, “Who else wants to save 10-40% off their next purchase at blanks Appliance center?” (See the owner or cashier on duty for complete details.) Or something all those lines.The short of it is this.
When your daily foot traffic customers, (especially your regulars) approach you or the cashier(s) on duty for all of the exciting details. You simply hand them, one of the appliance dealers best market tested one or two sided index cards.
Side (A.) invites the recipient to enter the retailers incredibly popular, free monthly drawing. Say what? For a chance to win a $2,500 – $3,500 dollar deluxe home entertainment center. (Which truth told. Only cost the retailer no more than half of the suggested retail price.)
And side (B.) instructs them to come to the retail appliance centers business. On or before the hand written expiration date expires. Which you or your cashier on duty personally write on there.
And save 10 or X% off their very next purchase up to $500 or X number of dollars. The main point being some relatively low front end saving percentage. Should they decide for whatever reasons to come alone.
There Is A Ton Of Potential Long Term Gross Profit Margin Using Some Type Of Power Networking Strategies Or Tactics!
You or your cashier on duty simply look at the calendar. And hand write the official expiration date of the next ten physical days out.(Not the next ten physical business days out.) However, simply for dragging a friend with them. Whose at least 18. And not a current subscriber of yours.
They automatically save up to 40% off. It’s automatically up to 50% off. Provided they join the retailers opt in email or mobile marketing (text) messaging list. And enter their monthly free drawing.
And they get to save 50 or X% off up to their next $2,000 or X dollar worth of purchases.
And get this. Their guest. Provided they joined the retailers opt in email/mobile marketing list too. They automatically get a hard to refuse, “OTO” offer. Huh? A (One Time Only) offer.
Which is only valid before they leave the store that particular day. They automatically qualify to save 30 or X% off their very next purchase up to $1,000 or X amount of dollars spent.
Now Comes The Really Fun And Potentially Profitable Stuff! (Say What?)
Now that the marketing stage is officially set. Coming up very shortly in part two. You’re about to discover “how’ you or your major competitors can and will officially hit it out of the park. And consistently and strategically turn your daily or weekly foot traffic.Into major long term gross profit generating opportunities. For literally pennies on the dollar. Sound good? See you in just a little bit in part two.
What Serious Profit Seeking Entrepreneur Can Possibly Say No To Consistently Generating More Long Term Gross Profits For Literally Pennies On The Dollar!
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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who also target,small business owners,service providers or aspiring startups entrepreneurs etc.
And they’re pro-actively looking for potential guest speakers.Please don’t hesitate to-either- pass their name and contact information directly
to me or vice versa!Thanks!
(Click the link just below, and watch the first video at the top of the page, if you’d like to see the entire 33 minute replay, of a guest podcast on
marketing your small business or service. I Recently appeared on.)
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