Are you strategically working your centers of influence?
(Or Else Your Leaving At Least 25% Of Your Long Term Profits On The Table!)
You already realize that some of your very best referrals come from your local centers of influence, correct?
Well, you’d probably realize that fact if you were actively monitoring where the majority of some of your best referrals were actually coming from.
First and foremost your absolute best referrers are (more than likely) originating from your existing customers and clients.
Because these people have already had a positive experience with your business,product and or service.
Now that being the case, think about the math here for just a second, then make a rational business minded decision entrepreneur.
How You Current Centers Of Influence And The 80/20 Rule Go Hand In Hand!
The savvy small business owners and or service providers (so that means you), realize they don’t have deep corporate pockets, and can’t simply throw tons of corporate money at building their business.
Instead, since capital resources are extremely limited, they have to invest a majority of their referral system generation time, with that all important 20% of their valued customer/client base, that consistently produces a whopping 80% of their long term results.(The 80/20 Rule at it’s best.)
So the question begs asking? That being the case, why are you constantly spending (on average) at least 500% more, to create that all important new first time customer?
Because that’s what’s it’s costing you (on average) every time you run (or renew) that outrageously expensive (local) newspaper or magazine ad campaign.
Or when you create that TV ad campaign or when you purchase those local radio spots in batches of 25 at a time etc.
When right underneath your nose, your good old (local) centers of influence are already in the perfect position to easily multiply your current marketing efforts (at least) ten fold!
And for a fraction of the traditional cost! Entrepreneur, what’s up with that?
How Your Local Centers Of Influence Can Systematically Add To Your Bottom Line!
(And Dramatically Lower Your Initial New Customer Acquisition Costs By As much As 400% To Boot!)
Although your local centers of influence are traditionally referred to as your second tier (or ) tier two centers of influence, with your current customer/client base being your all important tier one group.
My friend, these so called tier two referrers, are anything but second rate.
For ex: suppose you run a successful mid sized local jewelry store. Find yourself (two or three to begin with) local influential business executives, that are highly visible and respected within your community, but especially within the business community they serve, within their respective niche areas.
Offer them a few of your most popular bracelets, earrings and necklaces: all they need to do is pay your actual cost for these items.
And you’ll basically hold their money in escrow, as a type of insurance deposit, just in case the items get stolen or damaged beyond any reasonable repair.
They’ll continue to mingle within their various circles, and before long guess what will start to happen? Yep! The other prominent ladies within their circles, will want to know where they can obtain one of those beautiful sapphire necklaces.
Or where they can get a set of those beautiful diamond earrings etc.
They’ll simply pass out a few of your two sided business cards, that says they which one of your local centers of influence referred them.
And kaboom! You just increased your bottom line by at least 25% or more! For a fraction of the traditional cost.
And as a nice bonus high end profit producing marketing strategy, you could inexpensively test, periodically hosting very special private VIP gatherings.
You allow your circle of influence advocates to invite fifteen of their top most respected associates, employees and or friends or female family members etc.
And you just do a private showing of some of your best (not to mention) most expensive pieces of jewelry. perhaps you rent a large conference room at one of the local upscale hotels in town.
And you serve really nice wine(s) and or champagne etc. You know, really go all out. Get those ladies tweeting and giving your company the heads up on FB etc.
The net result is, some of those first time attendees will leave their spreading the word high and low about you and your totally fabulous business, from now on!
In part two, you’ll discover three more extremely powerful ways to strategically maximize the long term profit potential, waiting to be unleashed by your local centers of influence!
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