Ever Wonder Why These Are The Types Of Business Growth Strategies Nobody Talks About?
Honestly. As of right now. If you were to publish a blog post. (Provided of course you have a state of the art WordPress blog. What are the chances of the post ranking on Googles 1st page? Okay. ) Thanks for your brutal honesty.
And if you or your major competitors were to run an outrageously expensive, traditional offline local prime time radio or TV ad. On average “how” much would your final cost be? Before your campaign produced a paying customer.
And could you afford to simply run one outrageously expensive traditional ad? Not on your life. You or your major competitors had better be prepared both financially and emotionally. To continuously run a ton of dismally performing ads.
In order to barely break even on your initial front end. Say what? (Nod your heads cadets. Because it’s true.) On the other hand. Let’s candidly talk about the types of business growth strategies virtually nobody ever or rarely talks about. Huh? Because this is where your long term maximum potential growth will definitely consistently come from.
Why Not Proactively Embrace Some Simple Marketing Strategies For Small Business Success!
Case in point. For this particular example. You or your major competitors are going to be far more proactive than usual. (You’ll see exactly what I mean in a second.) Let’s say you’re either the sole or co-owner of a very successful, single location retail jewelry store.
And your ideal customer has a total lifetime customer value metric of somewhere between $250 – $10,000 dollars. Give or take over the next five to seven year period.
And for this particular, hypothetical marketing example only. You or your major competitors have your marketing sights laser focused on the local men & women. (Truth told primarily local women.) Who can easily afford to spend anywhere from $9,500- $15,000 on a luxury cruise ship adventure of a lifetime.
And before, during and afterwards. Take to social media constantly sharing some really cool pictures and videos of their adventure.(You get the picture, correct?)
Typically you or your major competitors would expect to read about “how” you’re gonna consistently move marketing or promotional mountains for literally pennies on the dollar. Correct? Agreed. (Not so much here.) Say what? No sir you’re gonna proactively invest some of your anticipated lifetime customer value budget.
In upfront customer acquisition cost. Here’s how. First of all you or major competitors will seek out local travel agents who specializes in those extremely high end luxury cruises. The ones which start at a bare bones minimum of $7,500 dollars per person. Huh?
There Is Definitely A Positive Way Of Consistently Benefiting From Making Marketing Mountains From Proverbial Mole Hills!
Since you or one of your key store managers or assistant store managers is on a first name basis with the owner of a small but very successful local travel agency.
(And even they though currently work from home due to co-vid.) You or your store manager pops them the magic question. Which is. “Is it okay to periodically refer you new business?” Typically you’ll get an emphatic yes 95-98% of the time. Provided you only ask this question of vendors, you or someone in your business already has an established relationship with.
And as long as you or your major competitors get an emphatic yes on your initial front end question. Here’s your immediate follow up question. “And by the same token as long as it doesn’t takeaway from anything you currently have going on both now or in the not so distant future. Are you okay with periodically returning the favor?”
Again for every yes you get on the initial front end. You can expect another emphatic yes on the back end typically 95-98% of the time as well.
These Simple Gateway To Major Profits Types Of Proactive Questions Can And Definitely Will Open The Marketing Or Promotional Doors Extremely Wide!
Here’s the very first way you or your major competitors consistently generate some major word of mouth and mouse buzz for literally pennies on the dollar. While the vast majority of your local competitors are content to spend, (more like waste!) a fortune on those outrageously expensive, dismally performing, traditional ad campaigns.
You make all the ladies in the travel office aware. Simply for making their top twenty five female customers. Be they single, married or living with their significant other etc.
For an extremely limited time they can save $500 dollars off any luxury travel package they choose. (As long as it has a minimum vale of at least $7,000 dollars or more. Say what? They just need to purchase it through the agency before a certain date.
In reality you or your major competitors will simply write the travel agency owner(s) a check for every person (potential) long term repeat customer for your jewelry store. Who takes advantage of the offer before the expiration date.
And the moment any of the lady travel agents sell at least five ladies or five couples a package. You or your major competitors will allow each of the lady travel agents to purchase an extremely eye catching pair of diamond studded earrings.
Which usually retails for at least $650 dollars a pair. But they only pay $300 dollars a pair or X. Say what? So now going forward. Each time they talk to their prospects via some type of video conferencing software like zoom.us. (Not an affiliate link of any kind BTW.)
You know at least some of their local female prospects or customers, will definitely wanna know where they got their bling from. And “how” much they paid. Correct? Bingo.
This Is How You Or Your Major Competitors Go Viral! (And Beyond!)
Unbeknownst to them. Every local female (or male!) who takes advantage of the travel agencies extremely time sensitive offer. each lady will be sent an extremely time sensitive gift certificate to you or your major competitors store. And they’ll have 72 or X number of hours to come in. And purchase a beautiful set of diamond studded earrings.
Which usually retail for at least $650 dollars a pair. They come alone and they can save 10% off the current retail price at the time they redeem their gift certificate.
However, simply for dragging a friend with them to you or one of your major competitors store. They only pay $300 dollars a pair. Huh? And simply for their guest joining you or your major competitors opt in email list before they leave the store. They too can also purchase an extremely eye catching necklace.
Which typically retails for $1,200 dollars. Which they only pay your actual hard costs of $600 dollars. Plus any and all applicable taxes & fees. (And now to the fun part. Huh?)
Entrepreneur “what” do you think will constantly be happening to these, say 125 local women. Who are aboard a luxury cruise ship like the one featured in this particular blog post? Bingo.
Look at all of that massive free exposure you or your major competitors consistently generate. For literally peanuts compared to what your major competitors usually spend. Coming up shortly in part two. You’ll “discover” what your next two or three marketing moves are or definitely should be.
But until then. “Why” do you suppose these are the types of business growth strategies no one ever or rarely talks about?
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