The Inexpensive Way Savvy Entrepreneurs Constantly Benefit From Referral Marketing!
(And How You Can Too!)
Have you had an entrepreneur/small business owner and or service provider, formally ask you for a referral or two? 😀
It’s a little awkward is it not?
And your mind sort of goes blank, right?
And typically, the vast majority of the time, these formalized methods, don’t work too well, do they?
On the other hand, (extremely savvy entrepreneur) in the making. Strategic referral marketing, is one of the most cost effective strategies, you can almost instantly employ.
To help lower your upfront out of pocket cost, while simultaneously increasing your long term profitability. Is anybody else up for that or what?
So Who Else Wants To Discover Some Inexpensive Ways To Consistently Profit From Strategic Referral Marketing!
If you were to actually put a pencil to, all the potential costs involved, for you and I, to set up, a formalized, online affiliate program.
Even a sort of bare bones minimum operation. You’re definitely looking at some semi sophisticated software, to handle commissions and to keep track of your cookies etc.
You probably need some market tested graphics,proven email teasers, pop up-scripts, complete sales funnels, proven headline grabbers etc.
Plus, some proven, sample free and paid ads etc.Basically you get the point, correct?
If you’re going to have a formalized affiliate program of some kind you definitely need a lot of tool and resources and the skills and resources to use them.Correct?
The Right Lead Generation Strategies Go Hand In Hand With Strategic Referral Marketing!
Case in point. Let’s say you currently run a successful, (yet independently owned), retail jewelry store. And your ideal female customer, has a total lifetime customer value metric, of $7,500 dollars, over the next five to seven year period.
And you realize, literally dozens of your local, long term repeat customers, the ones who are extremely active on social media, constantly spread, positive word of mouth and mouth buzz, about your business, products and or services.
So after you, and or one (or some) of your staff, become a customer of the hair and or nail salon, and you get to know the owner(s) pretty good.
You initiate the following proposal. On the salon owners, traditionally slowest day(s) of the week. You will do two really cool things, to kick start your referral marketing strategies.
Your Referral Marketing Strategies Can And Definitely Should Become A Separate Profit Center!
1.) Potential marketing strategy # one: First, in order to create, some permanent, positive word of mouth and mouse buzz, within the salon.
You will gladly, allow the owner, and their staff, to pick out any pair of diamond studded earrings, which retail up to $500 dollars (or X.)
And they can purchase them for your actual hard cost.
2.) Potential marketing strategy # two: And on the salon owners, traditional slowest day of the week, they will provide, every customer who spends over X amount, an extremely time sensitive, discount coupon, for brand new, first time customers only.
Where they can purchase, any pair of diamond studded earrings, you currently have in stock, up to $250 dollars, for your actual cost.Say what? 😀
But the only way they can receive this extremely time sensitive discount coupon,(and other exclusive goodies), is by becoming one of your opt in email/mobile marketing subscribers.
There Is Definitely Much To Be Said For Generating Referrals The Professional Way!
While initially, it may not seem obvious, how selling, some of your very best, most eye catching pieces of jewelry, at your actual hard cost, plus any and all, applicable taxes and fees etc.
As your local army, of highly influential women, (aka) affiliates, continuously grows, you (and or) your major competitors, will soon start to reap, the long term residual benefits.
Because as these highly visible, local ladies, continually show up on their jobs, attend various, local social functions, vacation with friends, relatives,attend family functions and or party extremely close colleagues etc.
Your Market Tested Referral Marketing Strategies Have Far More Money Making Potential Than You May Initially Realize And Or Appreciate!
And as these ladies aggressively post their good fortune all over social media etc. Guess what? Other highly visible local women, who have annual birthdays, daughters, daughters in law, Moms, sisters, neighbors and co-workers etc.
All this additional, free viral, on and offline exposure, will definitely cause your opt in email/mobile marketing list, to continuously grow. And your first time customer purchases, will definitely continue to improve.
Gradually over time of course. Plus, you’ll experience, more than your fair share of repeat purchases.
So hopefully you can, (and or!), you already have, come to appreciate, how the right market tested, referral marketing strategies, can and most definitely will, help you (and or) your major competitors make more money now. While spending less. Don’t you agree?
P.S.Now as is customary during this part of our show.
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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