Wanna Know How To Take Your Mini Profit Centers To The Very Next Level Or Two?
Have you noticed practically all businesses or services alike at least have the opportunity to not only create but sustain a few previously under developed mini profit centers? Nod your head cadets because it’s true.
And the really cool part is they may or may not involve any type of mutually beneficial JV (Joint Venture) revenue share or cross promotional arrangements.
Granted, any time you and I or your major competitors can systematically or strategically leverage another non directly competing vendors various assets or resources.
The long term marketing leverage you create can and usually will translate into several long term benefits like lower up front customer acquisitions costs. Which is always a welcome benefit is it not? Please read on to ‘discover’ at least three not so obvious others….
So How Do You Build Brand Awareness Without Necessarily Having To Go The Outrageously Expensive Traditional Corporate Route?
Entrepreneur that’s a fabulous question and I’m so glad you finally asked it? You know even if you can at least temporarily write extremely big checks. Outrageously expensive mass marketing is not the way to go. Especially if your business or service, (on or offline BTW) is more of the mom and pop variety.
You can systematically and strategically generate far more bang for your buck. And consistently generate more positive word of mouth and mouse buzz. When you or your major competitors look for some incredibly simple ways to add a little creative marketing spice to your current or future marketing or promotional efforts.
Sadly you watch even the major players or those on the verge of becoming major players go off the deep end with regards to the effective use of each ad, marketing or promotional dollar they spend instead of strategically investing them. Say what? Strictly for hypothetical marketing illustration purposes only.
Let’s say you’re the senior marketing/PR (Public Relations) manager for a single location, non franchised retail appliance center.
And to date your company has been gladly spending (not investing!) a staggering $40,000 dollars a month on one of those outrageously expensive, dismally performing local billboard ad campaigns. (Stop it already entrepreneur)
And sadly both you or at least some of your major local competitors know all too well ‘how” these types of traditional ad/promotional campaigns end, month after month, correct?
Entrepreneur Why Not At Least Strategically A/B Split Test Some Of Your Ad Dollars And Carefully Track Your Results?
Follow this incredibly simple marketing strategy. Let’s say your professionally trained delivery crew typically averages about 10-15 local deliveries per day. And since your business is open seven days per week.
Over the course of a year. Minus two or three days out of the year when your store is either closed altogether or you close early. Take a quick look at your local customer delivery math. (And less not be as optimistic as you typically would be.
So on average ten local deliveries per day times seven days a week times 52 weeks per year equals? ( 10 x 7 = 70 local deliveries per week x 52 weeks per year = 3,640 opportunities to either create or strategically leverage some previously untapped mini profit centers. Don’t you agree?
And remember entrepreneur each of these 3,640 local individuals all personally know at least 25 other locals, correct? And a bare bones minimum of 30% of them are primed to become a first time customer of you or your major competitors within the next 60 or X number of days or less. And “if” they average $375 dollars each. Look “what” you or your major competitors just grossed on the initial front end only.
(3,640 x 25 = 91,000 x .30% = 27,300 x an average spend of $375 dollars each = an impressive $10,237,500 dollars. Say what?) Entrepreneur you’re free and highly encouraged to adjust these numbers to any level you’re more comfortable with.
But hopefully you grasp the overall basic concepts here, correct?
So How Are You Or Your Major Competitors Going To Consistently Generate Cash From This So Called Additional Gross Profit Center for Literally Pennies On The Dollar?
First of all. Once or as soon as you or your major competitors professionally trained delivery crew is finished delivering or setting up the customers order. You offer them one of your best, extremely time sensitive offers which ends as soon as your delivery crew leaves. Say what? You might A/B split test at least two different extremely time sensitive offers.
1.) Extremely time sensitive offer # one: They can purchase at least one state of the art tablet or barbecue grille or any other one product of their choice, (provided it’s currently in stock of course.)
And as long as the one product doesn’t cost more than $1,000 or X amount of dollars , they automatically save 25%. However, if they’re already an opt in email subscriber they automatically save 40% off any one item up to $1,500 or X amount of dollars. (Entrepreneur apply the overall concepts here, not specific numbers.)
And you or your major competitors will “discover” extremely time sensitive offer # two coming up very shortly in part two, okay? For now can you better appreciate “how” you or your major competitors can not only create previously untapped potential profit centers. But how you can systematically take them to the very next level or two?
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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Extremely important note: And if by chance, you happen to know any of the lesser known podcasters,(or radio show host)
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(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
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