This Is How You Consistently Lower Your Average Customer Acquisition Cost! (And Still Make Out!)
Now that you’ve had a chance to study your average customer acquisition cost figures more carefully. You probably realize just “how” much or “how” little marketing or promotional leeway you actually have. Or could have direct or indirect access to. Agreed? Great.
Because the moment you or your major competitors get laser focused on how much you can or can’t actual afford to invest. In order to consistently generate your all important first time lead/customer.
You then discover where or how to start proactively applying some type non traditional, marketing/promotional creativity. Then your lead generation efforts have the long term potential of consistently paying you or your major competitors some major dividends. Can you live with that? Awesome. Me too BTW. So let’s get this thing started the right way.
So What Are You Specifically Doing In Terms Of Your Brand And Branding Yourself Long Term?
So in terms of strategically building your long term brand (reputation.) What exactly is your current game plan? And does it involve you trying to constantly spend a ton of money, (truth told!) you probably don’t really have. Translated you run up your business credit card bills. Steadily chasing these elusive gross front end profits.
Which almost never appear. And what are you ultimately left with? More or constantly mounting debts. Some of which will never be repaid on time. And then it slowly starts. Huh? You know. The slow or incredibly rapid destruction of your entrepreneurial dream.
The longer you remain financially upside down. The more stress and financial strain you or your major competitors will be forced to endure. Unless…? You decide to at least start strategically A/B split testing different potential lead generation strategies and tactics.
Case in point. Let’s say you’re the main marketing/promotional director for a fairly successful. Single location, retail beverage distributor. And your specialty is some extremely great tasting gourmet coffee, cocoa, ice tea and exotic lemonades.
And you also sell some extremely great tasting lower, mid level and higher end dinner wines and some great tasting champagnes. But for now. You’re laser focused on inexpensively and strategically promoting your extremely great tasting gourmet coffees and and cocoas.
Who Says You Have To Rely On The Outrageously Expensive Traditional Advertising Methods To Get The Word Out?
Try or inexpensively test the following marketing/promotional strategy. Pick out (more like!) strategically target a few local, independently owned gift shops and accessories stores. Preferably ones you or some of your current or future employees already have an established relationship with.
This being the case. Since you already know your ideal customer has a total lifetime customer value metric of somewhere between $129 – $3,500 dollars. Give or take over the next five to seven year period.
You or your major competitors,(those who are extremely marketing savvy.) You can easily justify investing at least some of your long term gross profits into forming a mutually beneficial JV (Joint Venture) or mutually beneficial cross promotional arrangement with these local gift shop store owner(s.)
Because typically their ideal local customer base. Is usually made up of 85-90% local women from literally all walks of life and incomes. And usually 75% of them are? You guessed. Avid coffee drinkers. Who love extremely great tasting gourmet coffee. And other great tasting beverages.
Like ice teas, exotic lemonades, dinner wines and great tasting champagnes as well. So here’s what you or your staff members initially propose. You’ll gladly sponsor (100% pay for) a monthly free drawing. Where get this?
The 1st grand prize winner automatically wins a $500 or X dollar in extremely time sensitive gift certificates. say what? And they have 90 days from the date the gift certificate credit is issued. To completely redeem all $500 or X amount credit they have.
And basically they just choose whatever products they want most. Up to $500 dollars. Because in reality behind the scenes. You or your major competitors simply (either) write a cashiers check for the entire $500 dollar credit.
Sometimes All It Initially Takes A Strategic Free Drawing To get Things Going In The Right Direction!
Or you utilize a combination of cash and some really cool barter credits. (Like maybe two mid level bottles of your great tasting champagnes.) Which typically retail for at least $650 dollars each. Although truth told, they only cost you $300 dollars each. Plus an additional $300 dollars in cash. Which equals on paper. A total $900 dollars in full value.
But all of each months 2nd grand prize winners automatically win either.
A.) A ten pound bag of your extremely great tasting gourmet coffee. And they receive an extremely time sensitive gift certificate. And when they bring it in to redeem it. If they come alone. They save 10% off a five pound bag.
B.) However simply for dragging a friend with them whose at least 18. (And not a current customer of your gourmet beverage distributorship.) They automatically get to purchase any twenty pound bag of gourmet coffee you or your major competitors have in stock.
And they get to purchase it at cost. (And get this.) As an additional, totally unexpected ethical bribe bonus offer worth X. As long as both of them join either your opt in email or text message list.
The original certificate holder gets to purchase an additional twenty pound bag of gourmet coffee or cocoa you currently have in stock. And their guest automatically gets to purchase any ten pound bag of gourmet coffee or cocoa you currently have in stock.
So you know (going forward) both of these individuals will gladly help spread the word both on and off of social media, correct? Hopefully it’s become more obvious “how” and “why” you and your major competitors can and definitely should systematically lower your average customer acquisition cost. Don’t you agree?
If You Don’t Maximize Your Advertising Or Marketing Dollars To Their Full Extent! (You May Not Get Another Chance To Do So!)
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