Why And How Your Low Customer Acquisition Costs Are The Spring Board To Some Long Term Profits!
Do you happen to know, what your current, customer acquisition costs are? And if so, ‘how” much can you actually afford to invest,(especially over time), in order acquire, your ideal first time, brand new customer or client.
And you know this because of what? You’ve actually run your numbers. Or you just have an internal gut feeling of things. Or what?
And if nothing else.Please don’t dare say. You’re systematically applying, the tried and true, “PFA” method. Huh? Which merely stands for “Plucked From Air.”
Because truth told, it’s the systematic use of the “PFA” method. Which ultimately causes, far too many aspiring entrepreneurs, to ultimately go broke. And surely, this is not, nor has it ever been, part of of your long term game plan. Correct?
Once you get a pretty good understanding, of this basic, (albeit) proven marketing concept. The world of previously untapped marketing possibilities, definitely begin to open for and to you. Sound good?
Who Says You Can’t Or Shouldn’t Dramatically Lower Your Initial Front End Customer Acquisition Costs!
This first real life case study example. Should make it crystal clear to you, or your major competitors.
How either of you, can and definitely should, consistently lower your initial, front end customer acquisition costs. So you can consistently profit long term. On the extremely lucrative back end of your profit generating sales funnel..
To start with. Please take a much closer look, at the featured image, with this particular post. Notice the family, with the little girl, basically, happily munching on what appears to be, some type of extremely tasty dessert?
Can you fully appreciate, this all too common, yet extremely profitable marketing strategy? Say what? Stop and think about “what” typically happens, anywhere from 40-75% of the time.
When either your local bakery or a popular super market in your area.Strategically has, attractive young women,stationed at the end of certain aisles. Enthusiastically offering samples, from either the meat or bakery departments.
Free Or Extremely Low Cost Samples Is A Proven Inexpensive Marketing Strategy Or Tactic Which Greatly Underutilized! (Or Simply Ignored Altogether!)
The constant flood of daily customers pass by. And every hour on the hour. A certain percentage of them, stop to sample X. Right? And who would have thought. Just based on the small sample(s) they taste.
A certain percentage of those customers, immediately head over to either the meat or bakery departments. And not only make an initial purchase. But a certain percentage of them, go on to keep purchasing, literally for months or possibly even years to come.
So the -obvious- $64,000 dollar question, definitely begs asking. Was or is it truly worth it. For you or your major competitors, to: A.) Offer extremely low cost, introductory trial offers of your best products or services.
B.) And strategically A/B split test, forming mutually beneficial JV (Joint Venture) or cross promotional relationships, with other, local, non directly competing vendors.
In order to constantly, inexpensively expose, your best products & services, to your ideal target audience. For literally pennies on the dollar.
Let Your Major Competitors Constantly Waste A Fortune On Outrageously Expensive Dismally Performing Advertising Or Promotional Campaigns!
For just a second. Quickly consider “how” a local, exotic beverage distributor, who specializes in selling, upscale gourmet coffees, teas, cocoas, lemonades, ice teas. After dinner wines and higher end champagnes etc..
You or one of your top, in or outside sales reps. (Pre – healthcare crisis of course.) Your outside sales rep,first becomes a regular customer, of either an upscale hair or nail salon. Or both.
and at some point. Offer to supply the hair and nail salon owners, with, initially, 20 or X lb samples, of the gourmet coffee, ta, lemonade or cocoa of their choice.
And the deal is. The owners o these upscale facilities, share it with their steadily growing customer base. And every time, one of their customers, Or vendors.( More on this potential extension strategy in just a moment.)
But for now. Whenever one of their extremely loyal, repeat customers or otherwise.Wants to know, where or “how”, they can purchase, some of these great tasting beverages.
For their: A.) Constant home use. B.) Or constant office use. Of course don’t you dare forget or neglect, all of the other current and future hair and nail stylist in each shop. Huh? Meaning: You also offer each stylist, the following, extremely generous offer.
They can purchase one ten or X lb of gourmet coffee or cocoa per month. During the winter. And save 10 or X% off the normal retail cost. At their time of purchase.
Start Customizing Your Long Term Marketing Strategies Or Tactics And Watch Your Long Term Profits Start To Steadily Grow!
Or simply for dragging a friend with them, to your store/showroom. Whose at least 18, and not currently one of your growing opt in email/mobile marketing subscribers.Each time they do so, they not only get to upgrade, and purchase, (as long as) you have it in stock.
They get to purchase, a twenty lb bag of gourmet coffee of their choice during the brutally cold winter months.
And the same marketing dynamics automatically apply, during the brutally hot summer months. Because then, they get to purchase, some of your best tasting, exotic lemonades or ice teas. And they get to do so, at your actual hard cost of X.
Think about the positive, viral word of mouth and mouse buzz. This incredibly simple, (not to mention) very inexpensive marketing strategy, will consistently produce.
Coming up very shortly in part two.You’ll “discover” at least three more potentially profitable reasons why and how. The lower your front end customer acquisitions costs are. The greater probability, of you or your major competitors, making lots of money over time. Don’t you agree?
Once You Start Your Marketing Or Promotional Ball Rolling! (You’ll Start To Gather Forward Momentum You Never Originally Participated!)
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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