Why Extremely Profitable Marketing Has A Proven Psychology To It! Part Two
Entrepreneur hopefully to this particular point in your entrepreneurial journey. If nothing else you at least semi understand and appreciate how and “why” some form of extremely profitable marketing definitely has a certain amount of proven psychology involved in it. Would you not agree?
And simply attempting to use outrageously expensive traditional advertising methods in some cases can often turn out to be the fast track to failure. Because the traditional advertising methods you see major, (extremely deep pocketed!) corporations using in order to build so called “brand awareness.”
If it works at all. It’s like a glacier in motion at best. And if it doesn’t work the entire dragged out process will surely all but drain your bank account. Leave you or your major competitors extremely frustrated and still no closer to your ultimate goals. Which were to increase you qualified leads and consistently generate more bankable gross profits. Which is definitely a pretty high price to pay, don’t you agree?
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Switching gears for just a second. Imagine “Apple” has announced the launching of a much anticipated product. And four hours before it’s New York city store even opens there’s crowd gathering stretching three city blocks just waiting for their chance to be one of the 1st to text, tweet and Facebook live at their latest acquisition. So in anticipation of such buyer loyalty and enthusiasm.
Apple forms a mutually beneficial JV (Joint Venture) relationship with either Starbucks or whichever gourmet coffee shop has the reputation of not only serving some of the very best, (and reasonably priced!) gourmet coffee in the entire city. But also has a reputation of having some of the best customer service skills in the entire city as well.
So here’s “what” Apple’s extremely marketing savvy sales associates and managers do. They bring a cart outside with them. And it’s loaded with some Xtra large “Big Gulp” plastic mugs. And as they make their to the crowd.
They greet each potential first time or repeat customer and ask “if’ they love drinking extremely great tasting gourmet coffee? (Which by extension includes other extremely great tasting beverages like exotic lemonades, ice teas and cocoas.)
And each one who answers yes. They’re handed one o these Xtra large “Big Gulp” plastic mugs. And told before they leave the store, to get a free cup of gourmet coffee as they head off to enjoy the rest of their day.
(And if it’s a major player Starbucks the “Big Gulp” mugs will definitely have Starbucks name on them. Otherwise if it’s a local coffee shop the plastic mugs won’t necessarily have the companies name on them.)
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Here’s the real or main point of such a seemingly small marketing gesture. First it gives “Apples” faithful yet another reason to be constantly texting friends, relatives, in laws, co- workers, employees and neighbors about what Apple did for them while they are standing in line waiting to spend their extremely hard earned money.
But going forward each time they bring the plastic mug back with them to either Starbucks or the local gourmet coffee shop. Now instead of paying the usual retail price of X for the exact same Xtra large “Big Gulp” beverage of their choice.
They only pay $2.99 per cup. Say what? (And the reason they pay $2.99 as opposed to the customary $1.99 you might typically read about. Is because New Your city prices would definitely tend to be slightly higher than other areas of the country. And the idea is to at least attempt to cover all or most of their actual initial front end hard cost. And possibly make an extremely small front end gross profit.
But make the vast majority of their long term gross profits on the back end from a vast majority of these customers converting into long term repeat customers.
Entrepreneur It’s Definitely Better To Create Long Term Repeat Customers For Literally Pennies On The Dollar! (Than To Constantly Waste A Fortune Creating Outrageously Expensive One And Done First Time Customers!
And “if” a certain percentage of these repeat customers own a local business or service. Then either Starbucks or the local gourmet coffee shop can arrange for every employee or associate of those businesses to get an Xtra large “Big Gulp” plastic mug of their own.
So they can start not only saving a bundle going forward on each gourmet beverage of their choice. But they’ll also be constantly bragging to friends and family members, in laws, besties and neighbors etc.
And as another extremely marketing savvy gesture on either the part of Starbucks or the local gourmet coffee shop. All of Apples current and future employees will not only get their very own “Big Gulp” plastics mugs too.
So if they’d like to buy gourmet coffee or any other great tasting beverage of their choice from either Starbucks or the local gourmet coffee shop. And save a bundle each time they do so simply for bringing their mug with them.
But each month either Starbucks or the local gourmet coffee shop will gladly supply the store a free twenty or X pound bag of gourmet coffee. This way both the current and future employees and the vendors all constantly get exposed to somebodies extremely great tasting gourmet coffee, agreed?
For literally pennies on the dollar. Entrepreneur are you finally starting to fully or at least better appreciate “why” extremely profitable marketing definitely has a proven form of psychology involved? Say yes.
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