This Is How You Or Your Major Competitors Put Your Entire Marketing Process On Steroids!
When you actually stop and think about, your current or past marketing or promotional strategies. Is it now more obvious than ever, where and how you can definitely improve, your entire marketing process? Let’s hope so.
This being the case. in your expert opinion. Going forward should you continuously place more focus on, the initial front or back end of your sales funnel? And how or what specific, proven metrics, are or did you use.
In order to eventually come to your conclusion. And speaking of finally making a real effort, to develop the potentially profitable, back end of your sales funnel. What potentially bank account filling marketing strategies or tactics, will you initially A/B split test, in order to discover, which way to proceed going forward?
And here’s a really important question for you to answer and be as brutally honest as you can.Okay? Thanks. As of right now. How many brand new, non directly competing potential JV (Joint Venture),or potentially profitable cross promotional partners, have you or other key staff members, reached out to.
In the last ten business days or less. And what’s the current status of you doing so? And if you still haven’t formed or seriously attempted to form, any potentially profitable JV arrangements yet. A.) You’re definitely working way too hard, in not on your business or service And B.) You’re spending way too much, far too often, constantly trying to generate, brand new, first time customers. Agreed?
So What’s Your Rational For Constantly Working Way Too Hard And Spending Way Too Much To Generate A Consistent Flow Of Brand New First Time Customers!
And whatever your answer is. Rest assured. Once or as soon as, you revamp your current and future marketing process. As a bare bones minimum. The following two things, will start consistently happening.(For you or your major competitors.)
A.) You’ll start consistently generating, brand new first time customers, for a fraction of your normal, traditional front end cost
B.) And these first time customers, will not only typically spend more money with you, more often. But they’ll also, enthusiastically refer you even more new first time customers, and both, will normally stick around, at least 25% longer, than your typical customers do.
(Extremely important note: Let’s say the service you provide. Your average, extremely loyal customer, will be with you, at least five years. Twenty percent of 60 months. (5 years x 12 = 60 months x .25% = an additional 15 months they’ll patronize you, not one of your major competitors.)
And in this additional 15 or X number of months. Think about how many more brand new customers, they can potentially refer, over the next 15 or X number of months.
Your Current Or Future Marketing Process Has A Ton Of Previously Untapped Marketing Potential! (Don’t You Agree?)
Plus, how often they will enthusiastically sing your companies praises, both on and off of social media. Who knows, maybe they occasionally do Facebook Lives and mention your company or service. Or maybe they go even further and share your companies link.
Or frequently mention you or major competitors, in their on or offline newsletter. Or maybe they mention you, in the last 30 seconds, of their local, prime time, TV or radio or newspaper campaigns. The overall, previously untapped marketing possibilities, are truly exciting. Are they not? )
So imagine “how” these next two, hypothetical marketing examples, could potential help you or your major competitors, literally miles apart. With just a few incredibly simple, marketing or strategical tweaks.
Let’s say you’re one of three, of your exotic beverage distributorships, senior marketing directors. And since you and the other two marketing directors, absolutely love dining, at this local, Mom & pop, independently owned, family orientated style restaurant.
And have been literally doing so, to the point. You’re now on a first name basis, with both the owner(s), several of the managers, and several of the waiters and waitresses.
And one night, the place is unusually packed. So when you all drive up. You noticed, (almost for the very first time.) How many different style of luxury cars, trucks and newer SUV’s are in the parking lot.
Being A Successful Entrepreneurs Means Spotting Previously Overlooked Marketing Or Promotional Opportunities!
Here’s the short of it. You immediately reach out to the owner(s), and ask the “$64,000 K” dollar question? Huh? You simply ask, “if it’s okay, to occasionally send/refer them new business?”
And “if” and only if, they answer yes, do you or someone in your organization immediately follow up with. “And by the same token, as long as it doesn’t take from or interfere, in any negative way whatsoever. Are you okay with occasionally referring us business as well?”
Once you get positive confirmation. You give them the quick mini version, of “how” the two of you, can help each other grow geometrically .
Instead of the traditional, snails pace,one new outrageously expensive to acquire customer at a time, linear approach.
Basically, the ones who said yes.Should be extremely excited and open to discover, how you can help their business grow and vice versa. The short of it is.
You’ll explain, since you’ve already run, your ideal customers, total lifetime customer value metrics.
And your ideal customer, is usually worth, somewhere between $450- $$6,500 dollars. Give or take over the next five to seven year period.
Here’s what you initially propose, going forward.
You Start Leveraging The Previously Untapped Marketing Influence Of Your Non Directly Competing JV Or Cross Promotional Partners! (And Watch Your Long Term Profits Start To Grow!)
Once or twice a month. Either every other week. Or at least once a month. You or one of your top level managers or possibly even, one or two of your top sales reps. Or your full time bookkeeper of CPA etc.
They will dine out for lunch or dinner at this particular restaurant..And you will set up an open account of $200 per month or X. Say what? Hold on and please pay very close attention. This $2,400 dollars a year. Pre -paid running credit. Is so every time, you or an associate come to the restaurant, with or without a guest,the restaurant simply keeps an ongoing ledger.
And when you or your associates exceed $2,400 or X number of dollars for the year. They simply send you, (meaning the bookkeeper or CPA a text.) So they can alert you, to simply add more cash funds to your rolling account.
But here’s the other reasons “why”, both you and your staff, will be frequenting this particular establishment. Actually there are two, potentially beneficial reasons for doing so.
The More You And I Pro-actively Serve Our Target Audience! (The More You Will Definitely Be Served In Positive Ways You Can’t Yet Imagine!)
1.) First: You will also, be occasionally dining, either extremely close friends, relatives, other local JV (Joint Venture) or cross promotional partners, extremely close siblings or neighbors etc.
In which case, at least some of these local individuals,(who the restaurant owner(s), initially invested very little to acquire), will be exposed to the restaurant, for the very first time. And provided they have a fairly positive, overall first exposure.
At least some of them, will ultimately develop into long term repeat customers. Who come back often and refer new business.Plus occasionally mention the restaurant or local retail establishment, on and off of social media. And at their job, place of business or at other social events etc.
Think about “how” potentially profitable, this one fairly reliable connection, can be or become, for the Mom & pop restaurant owner. Right? No doubt. In the interest of both time and space. You’ll discover the equally important second reason “why” you or your major competitors, will be frequenting their restaurant. Okay?
See you in just a little bit in part two. For now, are you definitely starting to fully appreciate, how tweaking your current and future overall marketing process. Can and definitely will, ultimately lead to, some major long term profit generating potential? Say yes!
The More Pro- active You Can Be Or Become! (The More Likely The Door To Long Term Success Will Swing Wide Open For You!)
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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