So How The Heck Do You Consistently Profit From Referral Marketing For Literally Pennies On The Dollar?
Are you currently spending any of your extremely hard ear money on any type of potentially expensive traditional advertising campaigns? And as you or your major competitors consistently do so.
Have or are you starting to notice just “how” your initial front end costs eats into your initial front end gross profits? So much so. After paying all or at least part of your actual hard costs and front end advertising or marketing costs etc.
And literally no reliable income generating back end component to your business or service. Like a staggering 95% or more of single location type of traditional brick and mortar type of businesses or services.
You constantly struggle. And unfortunately barely or just breaking even on your initial front. Causes a ton of financial and emotional pressure. Which sooner or later typically spins over into your personal life. And sooner or later some major road blocks ahead.
On the other hand. With a little strategic referral marketing strategies and tactics. You or your major competitors can not only relieve your immediate cash flow strain.
But position your business or service as potential back end income generating component. For other local, non directly competing businesses or services. Let’s have a look and you be the ultimate judge. Fair enough?
Hopefully Sooner Or Later You Or Your Major Competitors Will Start Implementing These Proven Small Business Marketing Ideas!
Seriously would you rather keep writing those not exactly small checks? Or effectively utilize some proven money making referral marketing ideas or strategies? Agreed.
So let’s properly set the marketing stage. Since you own a fairly successful, single location retail jewelry store. And now one of your annual marketing goals is to sell at least 30-40% more of your higher end bling. But without having to constantly spending tons of money on outrageously expensive, dismally performing traditional ad campaigns.
Enter an upscale men-s hair salon. Located just three doors down in the same mini mall. And (get this!) The average hair cut starts at $75 dollars. And go up to as much as $130 dollars. Say what?
(And BTW entrepreneur please don’t ask yours truly, what you get for your $130 dollars a pop investment?) But it’s definitely a good thing the shops actual hard cost is closer to $50 just dollars.
And you combine that with the fact you or your major competitors typically pay anywhere from $375 – $1,100 dollars per lead. Say what? Just depending on whether the leads initially come from either.
1.) Your outrageously expensive, local prime time radio ad campaigns.
2.) Your outrageously expensive, local prime time TV ad campaign.
3.) Your outrageously expensive local Sunday newspaper insert ad campaign.
Sometimes It Definitely Makes Marketing Sense To Leverage What’s Readily Available To You!
Case in point. You allow one of your top male sales sales reps to treat themselves at the upscale hair salon. And you gladly pick up the tab of $150 dollars. Say what?
And while sitting in the owners chair. Your top male sales reps asks the “magic” question. Huh? They ask. “Is it okay to periodically refer your new business?” A staggering 95-98% of the time you’ll get an emphatic yes on the initial front end question.
And as soon as you do. You or your major competitors immediate follow up question is. “And by the same token. As long as it doesn’t take away from anything you currently have going on. Both now and in the immediate future.
Are you okay with periodically returning the favor?” They assure you they are definitely okay with you, (or any other!) non directly competing vendor periodically referring them new business.
So much so. They ask “what” exactly you have in mind to start generating new business for them. You basically suggest going forward. One of your top males sales reps.
When come to their salon on Monday mornings. As soon as you open. And the first ten or X number of customers who sit in the owners chair. (Your non traditional lead generation strategy will initially start with the owner.)
And once or “if” it proves successful. You or your major competitors will gradually expand it from there.
So What Do You Think Will Consistently Start To Happen When Some Positive Word Of Mouth Or Mouth Buzz Gradually Starts To Spread?
Entrepreneur for just a moment. Put yourself in the shoes of one of the many happy customers who sits in the chair of the upscale barbershop owner.
And unbeknownst to them. The 1st ten or X number of customers (initially) on Monday-s only. The 1st ten who spend at least $100 dollars or more for their hair cut.
They’re given a sealed envelop with the words “You Definitely Deserve This!” written on the outside. So you know it’s definitely not gonna take long for them to open it, correct?
Inside the envelop. The recipient will find at least three extremely time sensitive gift certificates.
1.) Extremely time sensitive gift certificate offer # one: No real surprise here. But an extremely time sensitive offer from the hair salon. The recipient comes back to the shop or pays a 25% non refundable deposit for setting an appointment.
They come back within a 60 or X day window. And they save 25 or X% off their next hair cut.
Once Or As You Build The Snowball Affect! (It Will Start To Grow Larger And Larger On It’s Own!)
2.) Extremely time sensitive gift certificate offer # two: They also receive an extremely time sensitive discount coupon to give away to whomever they wish to? Say what?
Maybe their closest BFF (Best Friend For Life.) A close neighbor. A relative, sibling, co-worker, employee or in law etc. Whoever it ultimately turns out to be. You know they’ll be constantly bragging both on and off of social media. Correct? Bingo.
3.) Extremely time sensitive gift certificate offer # three: You probably guessed it. An extremely time sensitive, two sided gift certificate to you or major competitors retail jewelry store.
Side (A.) invites them to enter your monthly free drawing for a chance to win an extremely eye catching $2,500 dollar Men-s Rolex watch. One guaranteed winner per month. So no matter “what.”
At the end of twelve months. At least twelve local customers of this particular upscale barber shot will not only be constantly strutting around showcasing their extremely eye catching bling.
But you know at least some of them will also be constantly posting some really cool pictures and videos of their newly acquired bling. Right? Wouldn’t you? And by extension. You know some of their closest co-workers, employees, neighbors or siblings etc.
Will definitely wanna know what the story is, correct? For sure.
And side (B.) of this extremely time sensitive gift certificate. makes the recipient aware. They come to your retail jewelry store alone. And they save 10% off up to $200 dollars.
Simply for dragging a friend with them whose at least 18 before the 10 or X day expiration window expires. They automatically automatically save 40% off up to $1,500 dollars.
Coming up very shortly in part two. You or your major competitors will discover “how to” strategically take your referral marketing strategies to the very next level or two. Okay?
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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