Wanna Know How To Improve Business Performance While You Impress Potential New Customers!
Has it dawned on you yet, to any significant degree. As you’re diligently going about, trying to discover, how to improve business performance, on any level.
The particular strategies and or tactics you’re attempting to employ. At best, on some level, are merely yielding a one to one return. Huh?
Meaning, if you’re using some type of paid advertising and or promotional strategy.
Say (PPC) Pay Per Click ads. No matter how well they work, once you stop running them. Guess what happens to all of your previous forward momentum?
That’s correct? It stops cold. Of course, you’re probably thinking, (but Mark!)(, isn’t that same overall theory true, in some form, with practically any type of promotion and or marketing I do?)
Yes it is. But since there are definitely so many different degrees.As you’re about to discover. You don’t have to put your business or service at risk, to the same degree, the vast majority of your current and future competitors do.
As you’re about to discover.This multi part series, will hopefully open your marketing eyes (wide open), to the untapped marketing opportunities and or long term untapped marketing possibilities!
Wanna Know How To Increase Sales Volume Even Though You Have Added Any New Customers Or Clients!
Sure on the surface it sounds a bit odd and over the top, correct? But let’s quickly lay the proper marketing foundation.
And then dive in and reveal the particulars.Then you be the ultimate judge. Fair enough? Let’s say your one of the senior marketing directors, for a single location, non franchised, designer retail jeweler.
And currently, your ideal female customer, has a total lifetime customer value metric, of somewhere between $3,500 – $9,000 dollars. Give or take, over the next five to seven year period.
This being the case. You look around, and target, a local hair and nail salon owner.And initially, here’s what you propose to both owners.
You will gladly allow them to pick out, an extremely eye catching pair of designer earrings, plus, a really nice, diamond studded necklace of their choice.Say what? And allow them to purchase both at your actual hard cost.Huh?
Even though the general public, would normally expect to pay at least $650 dollars for the earrings and at least $1,500 dollars for the diamond studded necklace.
(Extremely important note: You can and definitely should, read a recent guest blog post I did,(on a variation of this same marketing concept), for my bud Jasmine Hewitt, over at her awesome Mommy blog,lovelaughmotherhood.com.
How And Why Becoming A Successful Entrepreneur Has Absolutely Nothing To Do With Your Education Level!
Being An Entrepreneur Means Learning How To Create Reliable Multiple Streams Of Income Producing Opportunities!
Case in point. Obviously your primary, marketing rational is the following. Let’s say on average, both the owner of the hair or nail salon, currently beautifies, ten local women per day, times six days per week. And does so on average, (about) 51 out of the 52 weeks a year.Right?
Because at least one week out of the year, the owner takes their annual one week vacation, while one of the other stylist is in charge, for that particular week.
Here’s a closer look at the owners individual numbers.(10 customers per day X a 6 day work week, equals 60 local women per six day work week, X 51 weeks a year, equals a grand total of 3,060 locals per year.) Right?
And remember, each one o those 3,060 locals, personally or professionally interacts, with at least 25 other local women! Huh?
Now then. Of course it’s no major surprise, as each of her ten, (or X number of) customers per day, sit in her chair, as she and her other five stylist, go about beautifying these local ladies.
Sooner or later,you know the major topic of conversation will most definitely turn to, where did they get their extremely great looking bling, correct? And how much did it cost? And ‘how’ can they get hooked up asap, too!Right? Absolutely!
Are You Definitely Starting To Appreciate How The Right Customized Sales Funnel Definitely Equals Big Bucks!
Stop and consider the following. You will eagerly supply the owner to begin with, (at least) 1,000 of your market tested, two side business cards.
Side A. invites them to join your opt in email/mobile marketing list. And Side B. is where the owner simply prints their name.
But hand writes a date, which is no more than ten business days out. And side B. informs the recipient, they can save 10% off their very first purchase, up to $1,000 dollars. However, simply for dragging a friend with them to your store, whose at least 18.
Before the expiration date. They automatically save a whopping 40 (or X%) off any purchase, up to $1,500 dollars! So lets say, over the course of one year. The owner alone, has 30% of their 3,060 annual customers, rush into the your or your major competitors store.
Which also means, (for whatever reasons), a staggering 70% didn’t bother!Huh? So 30% of 3,060 = 918. And half of them drug a friend with them, who was at least 18.
Which means, altogether, an impressive 1,377 local,s,(918 + 459 = 1,377.) Came to your or your major competitors store. And the average spend, was just $350 dollars each.
Or a grand front end total of $481,950 dollars! (1,377 x $350 dollars = $481,950 dollars.) But here’s the real skinny.
Sometimes The Tallest Trees Originate From The Tiniest Acorns!
Of the 1,377 total customers.
At least 10% of them, spent at least $1,000 dollars or more each. Say what? That’s correct? You’ll discover how and why, that’s truly significant in part two, okay? For now.
Here’s one major benefit to the hair or nail salon owner(s.) As a direct result of this incredibly simple strategy. You eagerly pay the salon owners monthly lease payment. Say what? And now, every customer who sits in their chair. Plus every stylist who pays their weekly chair rental fee.Is pure gross profit to the owner, is it not?
See you in just a little bit in part two, okay? But for now, are you definitely starting to better appreciate, how to improve business performance?Even while you impress, potential first time customers or clients.Say yes!
Are You Starting To Appreciate Why You Definitely Don’t Have To Be A So Called Marketing Guru!
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!
As always, if you got any value out of this post, please share this on your favorite social media sites or tweet this.Thanks!
And if you’re currently registered on Linkedin or twitter,and you’re serious about about doing some type of power networking.Let’s get connected asap!
Extremely important note:And if by chance, you happen to know any of the lesser known podcasters, who also target,small business owners,service providers or aspiring startups entrepreneurs etc.
And they’re pro-actively looking for potential guest speakers.Please don’t hesitate to-either- pass their name and contact information directly
to me or vice versa!Thanks!
And be sure you grab your explosive free 22 step small business marketing idea kit series,because it will help you increase your gross profits by as much as 25% in the next 90 days or less.
And help you master your effective communication in marketing skills.(No matter what your particular niche market is.) It’s a $97 dollar value and it’s free!
