How’s your current marketing action plan working so far?
(That You Can Implement Right Now And Start Making Money ASAP!)
Is your current marketing action plan going to add an additional 25% in the next 90 days or less?
Picking up where your story left off; hopefully you can and do appreciate the incredibly
powerful insights to be gained from your next visit to both your local library and or Barnes & nobles.
Just for a moment, let’s apply some of these same proven marketing research insights to your offline business.
As you recall you started carefully monitoring the actual buying habits of your best walk in customers and here’s what you quickly discovered.
Are You Ready For A Powerful Marketing Action Plan That Really Work?
As always you must adhere to the following disclaimer. Because some of you ( God bless) take everything literally!
And if you happen to read something online that says do X, Y and Z, then you (unfortunately) are not creative enough or have enough marketing savvy to know that this just means, that until you actually test it and ruthlessly track your results and tweak this and that.
No long term benefit will come of it! You have to add that disclaimer!
Otherwise you get these lazy wannabe’s emailing you or negatively commenting on your blog, (or elsewhere) how they (sort of tried one time) this particular marketing strategy that you advocated and (surprise) they got little or no bankable results!
Anyway, you discovered that on any given day (38%) of your typical walk in customers (with kids) ages 5-10 , seem to purchase these two main impulse items at the checkout counter.
And that 43% of your adult single female purchasers (30 and over) seem to impulse purchase product X during these certain days and or time of the year.
And that a staggering 63% of your college student customers (primarily) young guys seem to impulse purchase product X at the checkout counter.You can take advantage of these buying tendencies by implementing a good marketing action plan.
Testing And Tracking Will Yield Big Results…
Because after you discover these specific buying tendencies, you have two extremely simple low cost ways to test out their long range profit potential to your business.
1.) The first way to test these impulse purchase items long term effect on your bottom line is to allow these (hopefully) long range (meaning ) repeat customers to start purchasing that or other repeat purchase products at your actual cost, by issuing them a special VIP discount card of some kind.
And they can purchase it for either six months or one year at a time , for some relatively low cost and then they just present the card at the time of purchase and they get that specific repeat impulse item at your actual cost, for the next 6-12 months.
This way you start training some of your best repeat customers to start frequenting your place of business more often.
And this particular long term marketing action plan can be applied to practically any business, product and or service.
Start Segmenting Your Customer Base And You’ll Uncover Some Serious Long Term Untapped Profits…
Let’s say you have a Mom & Pop corner grocery store and you want to take advantage of a particular segment of your customer base. Like say Senior citizens or college or HS students or if there happens to be a local bar or huge apartment or housing development or bowling alley (or a huge pool of county or state workers) near your place of business etc.
You could place a well crafted huge sign near your coffee pot; announcing your brand new “Coffee Club” for seniors or (anybody) really. Inexpensively test it, to find out which approach gives you the most bang for your buck!
Anyway, you allow the Seniors to purchase a special 12 month VIP “Coffee Club” discount card for say just $7.00 dollars.
And now instead of paying the normal retail price of $2.19 for a large cup of Java, Tea (or hot Cocoa) during the cold winter months (if that scenario) applies, instead a large cup cost them just .69 cents for the next 12 months!
They’ll come in more often and they’ll also spend more money (on average) each time because they’re saving so much money on something they purchase all the time. And your real goal (long term) is not to lose money on one lousy cup of large coffee, tea or cocoa etc.
Instead it’s to get them to frequent your place of business more often and spend a little more each time! And you could also combine this (brain dead simple) marketing ploy with few other proven winners and in short order your cash register would start to sing!
That’s the undeniable power of a good long term marketing action plan.
Your Marketing Action Plan Doesn’t Have To Be Complicated!
As another example: suppose you run a Mom & Pop printing business,(inexpensively price test) by allowing your new first time customers to purchase a special (low priced) discount card that allows them to purchase unlimited amounts of color copies (with no minimum) purchase requirements at your actual cost, for the next 12 months.
This simple technique locks in some of your best repeat customers for the next 12 months (and if they wish) they can just pay the small annual renewable fee again next year in order to continue the savings.
But again: your real long term benefits are, they won’t simply come in to get the special discount on your color copies, they’ll bring in additional more profitable projects as well.
So for literally peanuts, you’ve created long term profits. By strategically locking in (and rewarding) some of your best long term customers.
Now in Part Three you’ll discover how next local visit to Barnes & Nobles holds the the key to your long term online success! So stay tuned.
Your Must Complete Homework Assignment is:
1.) List at least two simple ways that you apply the price lock in strategy to your
current business, product or service in the next 90 days.
2.) Come back to this blog and share at least two insights with your fellow marketers, how
you plan to start tracking the buying habits of both your customers (on or offline.)
And please don’t forget to Digg or tweet this. Thanks!
Also, make sure you grab your explosive free 22 step small business marketing idea kit series.
Because it will help you master your effective communication in marketing skills. And help you increase your profits by at least 25% in the next 90 days! no matter what your particular niche is.
It’s a $97 dollar value and it’s free!
