Ways To Increase Profits:How Savvy Entrepreneurs Consistently Uncover Hidden Profit Opportunities!Part Two
So have you, (or anyone) else you know in business, ever tried to copy, as best you can, the advertising methods, and or promotional strategies of the really big corporate boy & girls?(I sincerely hope not!)
You know, they run “what” direct response marketing consultant types, such as myself, affectionately refer as “tomb stone” advertising.
And or glitzy and outrageously expensive, bank account draining “image advertising.”
And while it’s certainly debatable, whether or not this type of corporate advertising method does anything positive for the typical, severely cash strapped small business owners, and or service providers that attempt to use it!
One thing is definitely certain, this type of resource draining advertising method, will cost you a literal fortune!
And it will do very little, (if anything) positive for your bottom line, other than severely drain it!
On the other hand, there is (at least) one potentially profitable, battlefield tested marketing strategy, some of the ultimate corporate insiders consistently use, to turn a marginal gross front end profit, into a massively profitable back end one! Let’s take a much closer look, in order to discover exactly “what” it is!
So When Does It Actually Make Sense For An Extremely Cash Strapped Small Business Owner And Or Service Provider To Actually Emulate The Really Big Corporate Types?
So ladies & gentlemen, does the (corporate) name Nightingale-Conant ring a bell? Yea, that would be the very same Nightingale – Conant Personal Development company, that annually generates hundreds of million of dollars in gross revenues.
But here’s the thing, (entrepreneur) are you aware, that just like you and I, they (too) rely heavily, and almost exclusively on the extremely lucrative 20% of their extremely large, (and ever growing) customer/repeat customer base.(What da ya know, the 80/20 rule strikes gain!)
And like most other proactive small business owners and or service providers, they too invest the traditional 400 to 500%, simply to identify that all important first time customer.
Extremely Savvy Entrepreneurs Constantly Look For Proven Ways To Create Multiple Streams Of Income!(And So Should You!)
However, unlike a staggering 95% of all severely cash strapped small business owners and or service providers.
Nightingale -Conant consistently earns the bulk of their long term gross profits, by aggressively marketing and relying almost exclusively on all of the extremely proactive, back end income streams, and joint venture/strategic alliance arrangements they have and continue to form!
And unlike the average profit seeking entrepreneur, Nightingale -Conant, after years of careful and strategic analysis of all kinds, is more than wiling to temporarily lose money on the initial front end of their sales funnel.
Only to recoup all those losses, and earn spectacular long term gross profits on their well established back end sales funnels!
How And Why Cash Starved Small Business Owners And Or Service Providers Should Definitely Emulate A Proven Sales Model!
Entrepreneur when you (and I) have a much closer look at Nightingale-Conants’ typical front & back end sales funnel process, and their overall gross profit margins.
It’s painfully obvious why any serious, profit seeking small business owner,(and or) service provider should definitely be emulating their proven money making methods.
Case in point, (typically) Nightingale – Conant already knows, (and far) more importantly, totally understands, the moment they (direct snail mail) a first time brand new customer, one of their many, (extremely popular) self development programs, on an (absolutely) no obligation, free 30 day trial, “try before you buy,” basis.
Right out of the gate, they’ve already calculated, at least 25% of those prospects, will return the program before their 30 day trial period ends!
Extremely Successful Entrepreneurs Know And Leverage Their Particular Customers Initial And Repeat Buying Patterns!
And they will immediately go into the”witness protection program, ” never to be seen again! 😀
And another 30% of them, will purchase at least once, but never ever , (and or) extremely rarely buy again!
Entrepreneur, do you realize a staggering 55% of their total customer base, (which is well up into the millions),is not producing any type of gross front end profit for them!
Another 25% of their (constantly growing) million plus customer base, will order at least three times, (and with a few) rare exceptions, a small percentage of them will actually order a fourth time!
However, ladies & gentlemen, (believe it or not) it’s that remaining 20%, of their extremely valuable customer/repeat customer base,that constantly orders at last four times or more, (for several years!)
Plus all the other back end strategic alliance, (joint venture partner) arrangements, Nightingale -Conant has constructed over the years, that creates the lion’s share of their long term gross profits!(Which totals hundreds of millions of dollars!)
Profitable Lead Generation Strategies And Properly Formed Back End Sale Funnels Are The Real Key For Your Typical Cash Starved Small Business Owner And Or Service Provider!
Here’s a typical, (well constructed) back end strategic alliance,type of major profit producing arrangement, Nightingale -Conant has now become, both famous and extremely rich for participating in.
One of their early JV partners, (long before) constructing such profitable JV arrangements were popular, (and considered main stream.)
An extremely savvy, legendary direct response marketing consultant, who routinely sold, (back then) a $595 dollar home study course recording, of one of his live, three day offline events.
Nightingale- Conant sold the program to their audience, on a free 30 day trial offer basis.But unlike the customary 50/50, front end JV partner revenue sharing arrangement.
Instead, this legendary marketer, gladly allowed Nightingale -Conant to keep $400 dollars gross profits on the front end!
And since the program (roughly) costs the marketer $95 dollars to produce, they typically netted a rather modest $100 dollar gross profit on the front end. (Give or take.)
You Start To Get Really Good At Profitable Lead Generation Strategies And Or Tactics And Watch What Gradually Starts To Happen To Your Bottom Line!
Plus, this incredibly brilliant, legendary direct response marketer, also gladly financed an additional $50 dollars of their gross front end profits, to help Nightingale -Conant reduce their (ever increasing) mailing cost!Which typically left him with a rather modest -gross- front end profit of just $50 dollars.
Why such generosity, for such a seemingly small front end gross profit you skeptically ask? Basically there were three incredibly profitable reasons.
1.) First and foremost, this extremely savvy marketer had properly identified a potential, future long term consulting client, capable of paying his top end hourly, monthly and or annual consulting fees!
Entrepreneur Your Extremely Cash Strapped Small Business And Or Service Has Way More Potential Financial Punch Then You Probably Think!
2.) Secondly, he could now put together his own extremely lucrative back end JV arrangements with those potential consulting clients, with other non competing vendors he already had previous business relationships with!
And many of these extremely lucrative JV arrangements resulted in millions of dollars in long term gross profits!
3.) And third, he got (both) the president & CEO of Nightingale Conant to personally write an endorsement letter, stating “how” much money his particular JV arrangements netted them, and he leveraged their clout in the business world, to make a whole lot more money, with half the normal effort, in half the typical time it usually took many of his peers!
Your Small Business And Or Service Can Consistently Create And Or Generate tons Of Previously Untapped Profits! (Simply By Seeing The Overall Big Picture!)
So “what’s” the lesson(s)? Every profit seeking small business owner and or service provider, definitely needs to emulate the big corporate types, proven business model of creating profitable back end sale funnels!
Don’t you agree? All right then, get cracking on constructing your very own, extremely lucrative back end sales funnels!
Just like Nightingale -Conant has! And the legendary direct response marketer has!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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