So Why Do Some Call It Economic Recession While Others Call It Opportunity! Part Two
As you previously discovered in part one of this ongoing series about how and why you don’t and shouldn’t ever overlook any potential money making opportunities. Especially the ones that often present themselves during any so called economic recession.
In part two of this series, let’s take a look at how a local savvy Mom & Pop appliance dealer can effectively compete and out promote and out market, their better financed larger corporate competitors!
While the deep pocket bigger brand name appliance dealers are more than content to settle for a one to one return on their traditional advertising dollars!
This local savvy appliance dealer prefers (instead) to constantly generate anywhere from a 20% %500 percent (ROI) return on investment. They’ll invest their hard earned dollars once and get a much better long term residual return! And so can you…+
Who Says An Economic Recession Is Automatically A Bad Thing?
Ladies & gentlemen, you do know and realize that those rent to own places and other local appliance retailers that offer financing for some of their purchasers, have customers that default right?
When you put the figures together nationally for these various companies, entrepreneurs you are quite literally talking millions and millions of dollars in lost revenue! And no matter which appliance dealer you name, they all experience this painful process each year, no matter what!
That’s correct! A certain percentage of their credit extended customers at some point will default on their payments. Which means their purchases will be repossessed.
And these repossessed items, often include really nice home and business computers,sofas, dinette sets, love seats etc.
And really expensive and rather nice, high end state of the art home entertainment systems and bedroom sets etc.But here’s the ‘hush, hush” dirty little secret, regarding this yearly inevitable occurrence. Here’s what most of the major deep pocketed corporate appliance dealers routinely do!
Since by law, they cannot resell used or slightly used repossessed items for full retail prices anymore! Instead they prefer to get rid of it asap, by offering super discounts to the general public and hope they don’t exceed a certain percentage of their entire gross profits!
The So Called Economic Recession Can Either Be A Gateway To More Profits!
( Or The Stairway To Shrinking Cash Flow!)
Let’s see how a savvy local “think outside the box” Mom & pop appliance dealer turns a routine repossession of a really nice state of the art $10,000 (or more) home entertainment system, into a long term perpetual profit generator!
Since by law, they can’t turnaround and resell this used equipment for it’s full retail price. Is that any excuse to not make a long term profit? Here’s what they a start systematically doing.
First, they’ll literally print up some really inexpensive one sided flyers. And pick out a really nice upscale area of town. (You know where the houses start at $500 million and up! And where the apartments, condos and townhouses rent for $2,500 a mon- th and up!
And they’ll leave flyers in the mail boxes. And these flyers will have a few different tested headlines. But basically, what they’ll do is ask a provocative question such as: “Who else wants to save a whopping 65% off the purchase of their next $10,00 dollar state of the art home entertainment system? (An yes, you’d best believe this price comes with our legendary three year warranty!)
The flyer will direct all those that are extremely interested in taking advantage of this extremely limited VIP new customer only offer! To rush over to your WordPress blog and join your opt in email list, in order to get all of the exciting details!
Just Make Sure You Connect The Benefit Dots For Your Potential Customers!
Here’s where all of this is going. In your follow up email sequence, you will make them aware that unfortunately, from time to time,some of your credit extended customers default on their payments and their appliances and other items get repossessed!
But your temporary misfortune, can be their potential windfall profits! (Follow this market tested, long term marketing strategy closely now!)
Every customer that agrees to give your Facebook page a thumbs up, plus write a positive review of one of the local search engines, plus provides a video testimonial!
Whenever you get repossessed sofas, love seats, state of the art computer both business and (PC’s) and or high end state of the art home entertainment systems!
Tell them, how you’ll gladly sell these repossessed items at your actual cost in exchange for items previously listed!
That’s step one! But hopefully entrepreneur,you can see and appreciate how this savvy local appliance dealer is strategically leveraging the so called economic recession, can’t you? Good. Any questions?
Please list at least two simple spin off concepts (in the comments section below) that you can apply to your business, product or service in the next 30 days or less!
As always, if you got any value out of this post, please Digg or tweet this. Thanks!
And be sure you grab your explosive free 22 step small business marketing idea kit series, because it will help you increase your profits by at least 25% in the next 90 days or less.
And help you master your effective communication in marketing skills.(No matter what your particular niche market is.)
It’s a $97 dollar value and it’s free!
