(And “How” You Definitely Can Too!)
By now, it’s no secret, that some extremely savvy insiders say, who are (supposedly in the know.)
They constantly tell us, you have to spend money to make money,correct?
You’ve (no doubt) heard that often used saying, over and over again, throughout the years,correct?
And perhaps, if you initially have the money to heavily invest into your venture, that saying rings, (at least) semi true,correct?
But what about the vast majority, of extremely cash strapped, small business owners, and or severely cash strapped, self employed service providers, that even if they dared write a check today, would literally be scrambling to try and legally cover it, before it was discovered their account had insufficient funds in it, to do so! 😎
Have you or anyone else you know in business, ever had to face that (not so) pleasant dilemma before? Rumor has it, it’s definitely not fun!
That being said, let’s take a look at three incredibly simple ways, some extremely savvy small business owners, (just like you and I) can actually, (consistently) create and or generate, at least 25% more gross front or back end profit, without necessarily having to spend money, they clearly don’t currently have!
So How Do Some Extremely Savvy Small Business Owners And Or Self Employed Service Providers Consistently Create At Least 25% More Gross Profit?
(Especially When They Virtually Have Little No Extra Money To Invest In Their Businesses!)
Hey it’s one thing to be a struggling and severely cash strapped small business owner, (and or) severely cash strapped, self employed service provider!
And it’s quite another, to be a severely cash strapped, marketing savvy small business owner and or service provider!Don’t you agree?
Let’s take a look at, (at least) three incredibly simple ways, an extremely marketing savvy small business owner, can effectively leverage some of their every day, (all too) common occurrences, to consistently generate, (and or) create at least 25% more gross front or long term back end profit, on a daily, weekly, quarterly and or annual basis.
Your Small Business And Or Service Definitely Has Tons Of Slightly Hidden And Untapped Marketing Opportunities And Or Possibilities!
1.) Potential profit making opportunity #one: Take a look at this very first, (all too common) example, for a potential profit making opportunity or two.
An extremely weary traveler, be it (a single and or) double occupancy customer, is just about to check into your extremely nice, yet non major hotel/motel.
And even though, (they) either already had reserved a room or they’re a brand new walk in, (let’s) suppose, you’ve got a higher end suite, that’s currently unfilled and it’s after nine pm at night.
Why not expertly train your staff to offer (upsell) your customer a room, that would normally cost an additional $200–$300 dollar per night!
Are You Consistently Putting Your Resourced Challenged Small Business And Or Service In The Position To Win Long Term!
But instead, offer it to the your customer for an additional $75 dollars (or X) per night. Or if they only want it for one extra night, it’s half price. Meaning, instead of paying the additional $300 dollars per night, it’s just $150 dollars for the extra night.
But if they go ahead, (using the same) credit card and purchase the upscale room for an additional week, (five business days), then only pay an additional $100 dollars per night or, an additional $500 dollars, instead of the $800 dollars extra, they would normally pay!
And point out, that’s an additional weekly savings of 37.50%!($500/$800= 37.50%)
(Important note: Remember, this extremely powerful marketing concept, has absolutely nothing to do with the actual numbers being used, it’s (strictly for) illustrative purposes!It’s the overall concept, you’ve got to grasp in order to successfully implement it!)
Extremely Profitable Small Business Marketing Strategies Doesn’t Necessarily Mean Small Gross Profit Margins!
Here’s the potential (secret weapon), ninja profit boosting kicker, for the previously mentioned strategy, to really make it work more times than not!
Let’s say this poor and extremely weary traveler, is a man and he’s either traveling with his spouse, (live in) significant other and or girlfriend etc. (That should pretty much) cover all his bases correct? 😀
And your highly trained staff, just made this upsell offer.Here’s the secret ninja marketing part, that will (more times than not) help to push him over the edge.
Do You Think A Little Market Tested Ethical Bribery Will Help Boost Your Small Business And Or Services Bottom Line!
Your staff, (simultaneously) whips out, this (really nice) looking, VIP, “brand new customer only”, (extremely time sensitive) discount coupon card, (to either) your local joint venture (high end) jeweler, (that as) your marketing fate would have, is located directly across the street! 😎
Or it’s located in one of your city/town’s most popular malls, but it entitles the lady in his life, to save a whopping 50% (or X%) off their very first purchase! 😀
With absolutely “No minimum purchase” requirement!Provided, she or you does so, by the hand written expiration date, you or your highly trained staff member writes on the back of the coupon!
When You Really Stop And Think About It Some Of Your Very Best Entrepreneurial Ideas And Strategies Have To Do With Some Form Of Power Networking!
2.) Potential profit making opportunity # two: Part two of this extremely powerful strategy, has to do with the extremely savvy (local) jeweler, taking this (potentially) outrageously profitable strategy, to the very next logical level or two!
Case in point!Just depending on how many employees the hotel/motel owner actually has.
Entrepreneur, is there any particular (reason(s), you can think of, why the extremely marketing savvy jeweler, shouldn’t first, make sure all of the owners and their spouses, and or (live in) significant others etc, shouldn’t be able to make their very first purchase, at the jewelers actual hard cost! 😀
With absolutely no “minimum purchase” requirement whatsoever! Think about how many (local) walking/talking billboards 24/7, their doing so, will instantly create!
So How Much Faster Will Your Resourced Challenged Small Business And Or Service Move Ahead Of Your Major Competitors Implementing Proven Marketing Strategies Such As This!
And think of the constant positive word of mouth and mouse buzz, both on and off of social media, implementing this one incredibly simple strategy will continuously generate!
And do you think any of those spouses and or (live in) significant others, won’t also be constantly posting their fair share of both images and or videos on FB, twitter,Instagram and Pinterest etc. 😀
And once they both return to work, (or their) place of business, what do you think will be (at least) one of the topics of conversations? 😎 (You so got that right!)
Entrepreneur When Are You Gonna Stop Viewing Your Small Businesses Long Term Profit Potential As Small?
3.) Potential profit making opportunity # three: And the extremely marketing savvy jewelers next potential profit center, is the local hotel/motel association members in general.
But rather than try and go after each independently owned individual. Instead, they will leverage those first few owners they already have an established track record with.
Because remember, their ideal high end income earning customers, have a total lifetime customer value metric of, (anywhere) from $25,000 – $45,000 dollars, over the next five to seven years. 😀
Once you factor in, the total number of initial and re- purchases, each brand new customer makes per year, and the total number of referral customers they bring your way, and the (video) and or audio, power testimonials, they give the jeweler, to place on the jewelers, mobile responsive WordPress website, (and or) blog etc!
So Are There Any Valid Reasons You Can Possibly Think Of Why Your Small Business And Or Service Can’t Or Should Be Currently Profiting From Some Of These Proven Marketing Strategies And Or Tactics!
So they can continuously build, (their) all important opt in email (and or) mobile marketing list etc!
Hopefully, you can readily see and fully appreciate, “why” it’s more than worth it to them, to ethically bribe those first few hotel/motel owners.
And allow both them and their staff to buy their first three (or X number of ) purchases at your actual hard cost!With absolutely “no minimum purchase” requirements!
And hopefully, you’re also starting to see and appreciate, how some extremely savvy small business owners, (just like) you and I, can consistently add an additional 25% more gross profit, to their bottom lines, without necessarily having to spend more money, in order to do so!Any questions?
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!
As always, if you got any value out of this post, please Google Plus or tweet this.Thanks!
And be sure you grab your explosive free 22 step small business marketing idea kit series, because it will help you increase your profits by as much as 25% in the next 90 days or less.
And help you master your effective communication in marketing skills.(No matter what your particular niche market is.)It’s a $97 dollar value and it’s free!
Hello Mark,
What a really interesting post that highlights how to think outside the box when it comes to maximizing your profit potential as a small business operator.
The perceived value that weary traveller would have of the upgraded room at a discounted price is something I personally experienced a few years ago in Jakarta, Indonesia. And yes I definitely told many folks about this great offer and experience plus I also made sure on my next visit to Jakarta that I was booked into that same hotel.
Your other examples of the jewleller offers again show how simple and easy it is to increase your profit margins without any increase in spending – just being a clever and creative marketer.
This post has great messages for all of us online marketers and already I am thinking about how I can add even more value to my subscribers by offering them exclusive discounts on some products I created plus throwing in some extra bonuses that I have never done before.
Thanks as always Mark for your thought-provoking post.
Best wishes from this ancient Aussie blogger to you and your family for the festive season.
May 2016 be a stellar one for you my man.
All the best
Peter
Peter Beckenham recently posted…Are You Making These 5 Deadly Marketing Sins?
That’s too awesome Peter!
Thanks so much for sharing your real life experience
in Jakarta!
And thanks for sharing how you made sure to book
the same hotel, as a direct of the star treatment you
received!
It hadn’t even dawned on me to include that as a
potential bonus!LOL!Thanks so much for sharing such a keen
insight!
Mark Newsome recently posted…So How Does Your Small Business Save 80% Or More Generating New Customers?