This Incredibly Simple Strategy Is Proof Positive Consistently Generating Referrals!
(Isn’t That Hard Nor Does It Have To Be Outrageously Expensive!)
Have you definitely had enough with writing those outrageously big checks? Especially when your overall rates of return simply aren’t that good. It’s hard to believe you can spend such large sums of money and consistently get so little in return. Right?
But “what” if you or your major competitor(s) simply systematically turn the proverbial marketing tables. Say what? And you start consistently generating referrals for literally pennies on the dollar.
After all (entrepreneur) there is more than a 75% chance. Your current or future advertising/marketing budget. Can easily help a less marketing savvy, non directly competing vendor consistently generate more business. On both the front and back end of their current or future on or offline sales funnel. Get ready to say hello to some major previously untapped gross profits…
This Is Why Creating Lead Magnets Which Resonate With Your Target Audience Is Definitely Worth It!
For just a second. Think about the local women who routinely pay (or invest) anywhere from $75 – $175 dollars to get their hair done. Say what?
(You can call it an investment whenever they pay over $100 dollars or X. Because they’re probably going on a job interview. Or they’re going all in because of the type of job they have. Think extremely high profile career. Like local Realtor or broker.)
Anyway. Let’s quickly turn your attention to both the owner(s) of the upscale hair or nail salon and of their current and future stylist. Because even though the hair or nail shop might be upscale. Those shops have their fair share of turnover among local stylists as well.
But let’s say this particular upscale hair salon has the owner (s) and their five full time stylist. And since the shop is open five days a week. Tuesday – Saturday. 9 am – 8 pm.
And each stylist averages ten local women each day, five days a week. So their weekly numbers look like this. ( Ten per day x 5 days a week. Over 51 weeks per year. Because the shop actually shuts down completely one week out of the year so the owner(s0 can go on vacation or remain local and just relax.)
Which means it’s actually open 51 weeks per year. ( So each week, six full time stylist. Counting the owner service ten local women per day. And 51 weeks per year. Which means a grand total of 15,300 locals pass through this particular upscale hair salon per year. ( 10 x 5 x 6 stylist x 51 weeks per year = 15,300 locals.
Who all known at least 25 other local women from literally all walks of life.)
At That Higher End Price You Best Believe These Local Ladies Have Plenty Of Discretionary Income!
And remember these local ladies routinely spend (or invest!) anywhere from $75 – $175 dollars to get hooked up. (Ten per day, x six stylist= 60 per day. Times 5 days per week = 300 per week. Times 51 weeks a year = a grand total of 15,300 locals.
Who can and do routinely spend/invest as much as $175 dollars for a single hair cut. (Or whatever it’s called at that particular price level.) Which also means more than likely. They either have extremely well paying jobs. Or they run, (or co- own) a very successful business or service of their own.
And they probably routinely socialize with other local women who are as at least successful as they are, right? Entrepreneur “what” do you think happens, (at least some of the time) whenever these women get their hair or nails done. And they’ve spent somewhere between $100- $175 dollars a pop.
If you said constantly tell (more like brag!) to friends, family members, co-workers, employees, in laws and neighbors etc. Both on and off of social media. You are correct.
Entrepreneur You Can And Definitely Should Leverage Golden Situations Like The Following!
So let’s get back to those 15,300 or X number of local women who pass through the upscale hair or nail salon at least once a year. On average they all know at least 25 other local women apiece. Which now means by extension this number quickly balloons to a staggering 382,500 potential first time customers. Say what? )15,300 x 25 = 382,500.)
Or long term repeat customers. And on average typically 30% of the total figure are women or individuals who are more than likely to become first time customers of you or your major competitors within the next 90 days or less.
So 30% of 382,500 = 114,750. And let’s say they all average $450 dollars each. This equates to a very respectable $51,637,500 dollars. Yea it’s a potential eight figure pay day.
Of course this is a hypothetical marketing example. But “what” if the upscale hair or nail salon only grossed 10% of that gross amount on their initial front end. Would you or your major competitors be okay with that? I sincerely hope so.
So How Do You Or Your Major Competitors Turn A Local Upscale Hair Or Nail Salon Into A Perpetual Referral Generating Machine?
Great question and So Glad You Finally Asked. First of all. Let’s say you or your major competitors ideal, higher end retail customer. Currently has a total lifetime value metric of somewhere between $400- $17,000 dollars. Give or take over the next five to seven year period.
So for starters imagine the local customers of the upscale hair salon reaction to the following marketing/promotional campaign. On Tuesday when the hair salon initially opens.
One of your top female sales reps is sitting in the salon. And initially, (meaning the initial A/B split testing) period. They hand the owner of the salon ten or X number of sealed envelops.
With these words written on the outside of the envelop. In extremely large red print, music legend “Stevie Wonder” couldn’t miss. “You Definitely Deserve This!”
You Really Can Create More Potentially Profitable Marketing Situations They You Can Possibly Handle!
So you know the recipients won’t waste much time ripping the envelop open, correct? You so got that right. Here’s what’s inside. And the ongoing tweaking (A/B split testing) will go from there.
First.) The recipient will find an extremely time sensitive, bounce back offer from the upscale hair salon. They save 25 or X% off their next hair cut over $100 dollars. And they save 10% off any hair cut under $100 dollars. Provided they book their appointment before the gift certificate expires.
Second.) The recipient also receives an extremely time sensitive gift certificate, to one of the areas most popular, (not to mention!) most expensive, women-s upscale facial deluxe treatment centers.
They come alone and they save 10% off the current retail price at the time of the redemption. However, simply for dragging a friend with them whose at least 18. Before the expiration date window expires. Both ladies get their facial deluxe treatments for free. Say what? And since they typically retail for $47 dollars each. This equates to a $94 dollar value.
So Would You Rather Keep Paying Full Retail For Your First Time Customers? (Or Start Leveraging These All Too Common Marketing Situations!
Third.) Here’s where you or your major competitors potentially come into play. Initially only ten local or X number of women who get these sealed envelops from the owner of the upscale hair or nail salon owners. Are women who spend at least $100 dollars.
And when they do. Inside the envelop they’ll also find an extremely time sensitive gift certificate from your retail jewelry, appliance or retail furniture store.
They join your opt in email list. And they get to take $75 or X number of dollars off their total hair or nail salon bill. Say what? And side (B.) informs them they come alone to your store before the expiration date.
And they save 10% off up to $200 dollars. (Not terribly sexy is it?) On the other hand. Simply for dragging a friend with them to you or your major competitors store, whose at least 18.
Before the expiration date. They automatically save up to 40% off (on a sliding scale) up to $1,500 dollars or X. So you know these ten local women are going to help spread the word both on and offline. Correct? No doubt.
Entrepreneur are you definitely starting to appreciate “why” consistently generating referrals, definitely doesn’t have to be complicated or expensive.
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