Why You Simply Can’t Do Without This Simple Loyalty Marketing Strategy!
To this point in your occasionally volatile entrepreneurial journey. Why haven’t you consistently implemented some type of market tested customer loyalty marketing strategy or tactics?
For the record no one is suggesting you simply jump in 100% with both feet and simply throw caution to the wind. Far from it. Instead you or your major competitors need to be or quickly become strategic with your approaches. And rather than simply writing checks. The way the vast majority of your major competitors do.
Believe it or not. You or your major competitors are more or less sitting on a potential untapped goldmine of previously ignored or overlooked referral generating possibilities.
And you can and definitely should start planting and nurturing the seeds of current and future opportunities right now. Say what? and the good news is. Contrary to what many may believe. Being strategic about your various marketing approaches. You or your major competitors can accomplish quite a bit for literally pennies on the dollar. As you’re about to discover.
Watch How These Incredibly Simple Business To Business Marketing Ideas Can Ultimately Turn Out To Be Very Profitable!
Sadly the average photographer who video tapes weddings, wedding receptions and other extremely popular events. Even though on an annual basis. Their industry is definitely a multi billion dollar one.
The average photographer tends to just sort of get by. Not realizing with just a little strategic and marketing creativity. They can start to leverage a ton of the semi developed relationships around them. And start consistently earning a whole lot more money.
Or perhaps another extremely savvy marketer from an entirely different industry altogether. Can help the photographer start putting the marketing or promotional pieces together in an entirely different. Far more profitable way.
Say for example. Your single location, non franchised retail jewelry store decides to allocate some of your $25,000 or X dollars a month traditional advertising budget.
On helping the photographer rapidly grow (scale) their business. And it will literally cost them pennies on the dollar. Say what?
At First Glance It May Not Seem Like The Local Photographer Is Sitting On A Previously Untapped Goldmine! (But At Least Some Of Them Definitely Are!)
Since your ideal customer. Especially local women currently have a total lifetime customer value metric of somewhere between $350- $7,500 dollars. Give or take over the next five to seven year period.
And the profit seeking photographer by stark contrast. They currently offer a family portrait photo package. Which truth told. Only cost the photographer right around $10 dollars.
And of course these $10 dollar family portrait packages ultimately turn into repeat customers who consistently do three potentially profitable things for the profit seeking photographer.
1.) First: The first time customers. A large percentage of them anyway. They fall in love with their family portraits. And they definitely want additional pictures to show off.
2.) Second: They constantly brag both on and off of social media to both friends, family members, relatives, co- workers, neighbors and in laws. About their awesome family portraits and the excellent savings they received.
3.) Third: They will constantly refer brand new, potential first time customers to the photographer. Some of whom will definitely become first time. And ultimately long term repeat customers.
Here’s How And Where Your Power Networking Efforts Will Ultimately Pay Off Big Time!
The photographer may not initially realize the potential gateway to long term profitability they’re currently overlooking. Stop and consider the these six closely related local industries.
Which are closely related to the wedding photography industry. 1.) The limo industry. 2.) The florist industry. 3.) The wedding bridal dresses and men-s tuxedo industry. 4.) The local wedding planner industry. 5.) The local reception facilities. 6.) The local bakery industry.
Since their $79 dollar initial family portrait package only has a hard cost of $10 dollars. Give or take. Your retail jewelry store will gladly foot the bill. By initially purchasing 500 of these at $10 each.
So you or your major competitors initially invest $5,000 dollars with the photographer. And the photographer in term. Allows the happy couple and everyone in the wedding. To use these extremely time sensitive gift certificates to purchase their first family portrait and only pay $10 dollars for it. Even though it typically retails for $79 dollars. Say what?
And here’s your A/B split test marketing twist.
Start Creating And Nurturing Various Types Of Strategic Alliances Revenue Sharing Arrangements! (Maximum Long Term Profitability!)
A.) Potential marketing offer A: Every female recipient who upsells to a slightly more expensive portrait package of just $37 dollars. They automatically get an extremely time sensitive gift certificate offer from your jewelry store. And simply for dragging a friend with them to your store.
Whose at least 18 before the expiration date expires. They automatically get to purchase a pair of your most popular diamond studded earrings. Which usually retail for $450 dollars a pair. But for an extremely limited time they only pay $200 dollars.
Or they can come alone and only save a measly 10% off their purchase. So you there’s gonna constantly be a ton of bragging both on and off of social media. Right? For sure.
B.) Potential marketing offer B: If the ladies prefer. They can simply pick out either a really nice diamond studded necklace or earrings. And simply have their portrait taking while wearing them. Huh?
And their guest. Provided they join your opt in email or text message list. Provided the guest does so before they leave you or your major competitors store. They get to purchase a nice bracelet for your actual cost. But it usually retails for at least $175 -$225 dollars each.
How many of these local women constantly bragging on and off of social media do you think it will take. For both you and the photographers business to literally explode? Bingo.
Going forward. Can you better appreciate “why” you or your major competitors simply can’t do without (at least inexpensively A/B split testing) this proven loyalty marketing strategy? Say yes.
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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