Being An Entrepreneur :Means Understanding How To Dramatically Add Value!
(To Your Best Customer And Or Clients Buying Experience!)
So imagine this (why don’t cha.) You run a very successful, (single location), local, designer jewelry store.
And unfortunately, so do several of your major competitors.
Who also (just happen) to own several locations, located in prime real estate spots, with extremely high foot traffic.
And of course, they also happen to be paying high end leases, for the privilege. Which also helps to push (their) already top end retail prices, even higher!
Correct?
But since you understand (only too well), being an entrepreneur, means, you definitely appreciate the fact, you don’t automatically, have to try and compete, on retail price positioning alone!Right?
Which gives you some much needed flexibility, because you’re also acutely aware, your prime first time- customer/repeat customers, total lifetime value, is somewhere in the range of $18,000 dollars, over the next seven to ten years. (Give or take.)
And since your gross profit margins average about 55% -63%, you can easily afford to add some really nice value, to your prime customers buying experience!Don’t you agree?
So How Does Being An Entrepreneur Help You Understand How To Dramatically Add Value To Your Best Customers Or Clients Buying Experience?
So it’s really no secret, (individuals) with money, can pretty much buy high end, quality-designer- jewelry, like the type, both you, and some of your better funded, local major competitors sell, at any one of these local retailers correct?
Absolutely! That being the case. Let’s suppose one of your (first time), potential high end customers, after physically visiting your store for the very first time, they are compelled (to either) join your VIP opt in email/mobile marketing list.
So they can enter your(incredibly popular) free monthly drawing, for their chance to win one of your $7,500 dollar, his or her Rolex watches!Say what?
That’s always a nice inducement carrot to wave around, correct? However, at least once a month, when you send your, unscheduled “broadcast email” follow message(s), to announce both that’s months, main grand prize winner, and the other remaining 99% second grand prize winners.
Build A Relationship With Both Your Ideal Prospects And Customers And Then Maintain It!
Another one of your monthly, unscheduled, follow up “broadcast emails“, (or mobile announcements), will alert your subscribers,that any credit/debit card purchase(s), they make, within the next X amount of days, which are over X amount of dollars.
Their orders will be delivered directly to (either) your home, and or place of business, within 72 hours (or less), of the date of purchase!
So imagine this scenario unfolding. This particular customer, is half of a husband & wife team, who owns a successful, local Real Estate Brokerage agency.
Which specializes in high end single family homes,condos and or townhouses, starting in the $500,000 dollar range and up!
And they currently employ a total of thirteen people, both full and part time. And this includes two full time secretaries and a full time bookkeeper.
Make Added Value Job One Not A Clever Afterthought!
So the husband purchases his wife of nine years, these absolutely beautiful, diamond studded earrings, which normally retail for $750 dollar a pair.
And this really eye catching diamond studded necklace to go with it, (which normally) retails for $1,795 dollars!Or X.
Because her birthday falls, just three weeks before Valentines day! One of your extremely marketing savvy sales associates, gives them a quick call, just to confirm the directions to their office, and tells them to check for an email/text message from your office.
Who Says Making A Really Big Impression Has To Be Outrageously Expensive!
And there’s pictures, of two different sets of beautiful diamond studded earrings, which normally retail for $450 dollar a pair. Or X.Huh?
And you make the husband aware, they can (and definitely should) purchase these two sets of earrings at your actual cost of X, and save X% off the normal retail cost.
And present them to his companies two secretaries!
Just imagine “how” much this will not only, make his wife’s day, but the secretaries as well!
But closer to home, because you’re business is willing to make, (local) personal house calls, to your higher income earning customers.
What type of 24/7, positive word of mouth and mouse buzz, do you think this incredibly simple, (albeit) proven marketing ploy will definitely create, among their peers, closest friends and family members etc.And some of their highly respected colleagues as well.
Successful Entrepreneurs Constantly Look For Ways To Better Serve Their Clientele Right?
So fast forward, to the day you actually deliver your customers bling! Imagine “how” those unsuspecting secretaries will be feeling, after being presented with those beautiful diamond studded earrings!
And you know, before they take lunch, they will have texted and called, a gazillion of their closest girlfriends, their sister in law, next door neighbor(s), daughter(s) and probably posted some fancy pictures on the company or their personal Facebook page! Correct? Absolutely.
Plus, once they get home, they’ll proudly show them off to any and all family members as well, correct? Absolutely!
And how many times do you think, they’ll enthusiastically repeat this story, over various holiday dinner gatherings! (Probably more!)
Being An entrepreneur Means Not Being Afraid To Consistently Go The Extra Mile Or Two!
And don’t forget, the exact same scenario, holds true, for the husband realtor’s wife, and the other secretary too!Does it not? Entrepreneur, here’s the $64,000 dollar question?
Do you honestly think, (even for a second!) Your fancy, slick, outrageously expensive two minute minute radio and or TV ad campaigns, or your half a page display ads, in the local Sunday paper(s), will have anywhere near, the long term,positive word of mouth and mouse residual marketing affect, your company (first) delivering the jewelry to your high end customers has!
And next, selling them additional pieces at your actual cost, plus any and all applicable fees etc; So these customers can give the bling to one of their employees/associates and or family members etc.
Becoming An Entrepreneur Is A Lot More Potentially Profitable Than Merely Being A Run Of The Mill Business Owner!
Think about all the potentially profitable, viral word of mouth and mouse buzz, this one, relatively inexpensive added value strategy alone, could do for your bottom line, for years and years to come!Not to mention, all of the potentially valuable referrals, it will most certainly generate as well!Right?
In part two, you’ll discover the potentially lucrative back end marketing strategy, which could potentially explode your long term profits as well!
So be sure and stay tuned for that as well. But for now, is it starting to really sink in, how being an entrepreneur, helps you better understand, how to use the “added value” strategy, to dramatically increase you profits!
Great! See you in just a little bit, in part two.Okay? Now as is customary during this part of our show.
So Are You Finally Ready To Be An Entrepreneur Or What?
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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