So have you ever noticed, just how much money, semi cash strapped small business owners, service providers and or startup entrepreneurs, initially waste, on outrageously expensive traditional advertising campaigns and or promotions?
Instead of consistently implementing, some good ole fashion power referral marketing strategies and or tactics instead?
First of all, it’ definitely money they truly don’t have.Plus, with such dismal returns, their interest (and yours!), would definitely be much better served, by some bank account filling power referral marketing strategies and or tactics.Wouldn’t you agree?
Like the three you’re about to be exposed to in the remainder of this post.After all, what semi cash strapped small business owner and or service provider, has unlimited funds to waste?
So Who Else Definitely Wants To Know How The Right Type Of power Referral Marketing Definitely Gives Your Small Business And Or Service The Edge?
For this particular, hypothetical marketing example. Let’s say, you’re one four managing partners, in an extremely well established CPA or law firm.
And currently, you have a grand total of 70 full and part time employees and or associates. And you have (either) a younger brother, in law, cousin, son,nephew and or some other relative, who owns and operates a combination gas and auto repair shop.
And you know, they have a little mini mart connected, where they also sell, extremely over priced impulse items. 😀
And because your CPA firm is extremely marketing savvy, you’re going to offer to help your relative out, in a really big way, by gradually investing, anywhere between $25,000 – $50,000 dollars cash in to their business.
So Have You Ever Noticed How Power Referral Marketing Strategies And Or Tactics Help Fix The Front And Back Ends Of Your Business And Or Service?
Remember, because they’re a relative, and or in some way, are legally related to you, and or one of the other three, main managing partners. You’re eager to help them grow their business.
Plus, as an added bonus, they’ll become a back end, referral generating machine for your firms services as well. 😀
The first thing you explain to them is, you definitely will not be wasting fortune, on outrageously expensive, dismally performing tradtiional advertising campaigns and or promotions.
And you explain, the primary reason being, with traditional advertising, you’re basically wasting a fortune, trying to initially convert, complete strangers, into first time customers.
And this tedious and outrageously expensive process, takes both time, money and effort. Does it not?
You Definitely Want To Invest Some Of Your Resources Into Developing Some Bankable Lead Generation Skills!
So because your CPA or law firm, readily understands this. Here’s one of the very first, positive word of mouth and mouth strategies, you advice them to start implementing asap.
Since your firm will have already have set up, some pre arranged, joint venture (JV) and or cross promotional contacts.
Going forward, each year, as both Mothers and Valentines day approaches.
Every car/truck and or SUV the repair shop completes a job on, where they know for certain, a man owns the vehicle.
Either on the seat on the drivers side, and or taped to the steering wheel, will be a fancy sealed envelope, with the words “Thank You For Your Business!” In bright red letters.
Of course upon opening it, the gentlemen will discover, four extremely time sensitive discount coupons.
1.) The first, will be from the repair shop itself. Thanking them for their business, plus making them aware, to enter the monthly free drawing, for a chance to win $1,000 dollars worth of repairs, to be used in the next 18 months or less.
Savvy Entrepreneurs Look For Creative Ways To Constantly Create And Or Generate Positive Word Of Mouth Or Mouse Buzz!
2.) Next, since it’s either close to Mothers or Valentines day, their will be an extremely time sensitive, first time customer only, discount coupon, to save X% off a beautiful vase o flowers.
To let the special ladies in their life, know how much they care.
You know, wives, Moms, live in significant others, new girlfriends and or secretaries etc.
3.) Next, will be two extremely time sensitive discount coupons, for dinner for two, at one of the areas, best gourmet restaurants, where they save 50% off. New first time customers only!
4.) And lastly, there will be an extremely time sensitive discount coupon, from (who else?), the CPA firm.
Offering a free 90 minute “No holds barred Q & A session. Valued at $525 dollars. Since their current hourly rates are just an affordable $350 dollar per hour. ($350 x 1.5 hours = $525 dollars.)
Power Referral Marketing Strategies And Or Tactics Definitely Fans The Fuel Of Your Marketing Flames!
Because the CPA readily knows and understands, on average,about 3 out of ten, or 30% of the individuals, they perform a free, financial needs analysis for, ends up, upgrading to customer, then long term repeat customer/client.
And since their ideal, semi to high end, upscale customer/client, has a current total lifetime customer value metric,
of somewhere between $25,000 – $75,000 dollars. Over the next 5- 7 year period.
It only makes sense, to initially demonstrate their expertise, via a free 90 minute sit down. 😀
Savvy Entrepreneurs Understand Why Educating Their Potential Customers And Or Clients So Potentially Profitable!
Plus, they’ll also teach the auto repair shop owners, how to accurately determine, their ideal customers, total lifetime customer value metrics numbers as well.
This way, (going forward), the auto repair shop owners, will have a much more realistic idea, of how much they can and should invest, on acquiring, the all important, first time customer.
Now that the stage has been properly set, in part two, you’ll discover the real meat & potatoes, of how power referral marketing, really gives your small business and or service the edge.Okay?
See in just a little bit in part two.
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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