Why These 5 Potentially Profitable Hacks Definitely Prove It’s Time For You To Embrace Some Form Of Relationship Marketing!
Whenever you reach into your proverbial marketing bag of tools. If you had to limit your choices, to five relatively simple hacks or reasons if you will. Which ones would you choose and why?
No matter how you slice it. If you’re serious and dedicated, to inexpensively growing your business or service. Especially if you’re semi cash strapped or resource challenged.Or if you’re just mega profit driven.Either way.
At some point, you have to embrace, some form of relationship marketing. And the more you embrace it, the faster your business, (small or otherwise), or service will steadily grow. And you’ll do more, on both the front and back end components of your business.
And you’ll constantly invest less to do it. And your front end out of pocket cost, will not only consistently go down. But your short and long term gross profits, will gradually go up.
Now what profit seeking entrepreneur, (do you personally know), who would say no, to a potentially profitable arrangement like that?
So What Makes You So darn Sure Some Form Of Relationship Marketing Won’t Help Boost Your Long Term Gross Profits?
Imagine this, potential marketing scenario unfolding. Picture 5,000 women worldwide, who work full or part time, for a luxury, International hotel chain. And you’re one of the senior marketing or PR (Public Relation) managers, for an up and coming, upscale women-s cosmetic chain.
And one of your most popular -mid level priced- perfumes, currently retails for $850 dollars a bottle. And you’ve taken an extremely close look, at a traditional, outrageously expensive,advertising or promotional campaign.
And after you add up all the potential front end costs. You quickly realize, your tab, (like it or not), for one years worth of traditional promotions, in popular ladies magazines.
Who Says You Needs Tons Of Money Upfront In Order To Successfully Scale!
Or prime time, national radio or TV ads etc.Will easily top ten million dollars or more.Say what? And sadly, at best, you’ll only momentarily, grab the attention of your main target audience.
Which is why.Instead, you leverage your established executive contacts, with any and all of the major hotel chains, where you and the other executives consistently stay. Whenever they’re traveling domestically or Internationally.
And you arrange for all of the female employees, (be they full or part time),who are non executive, to get a 32 oz. bottle of one of your best selling, mid level perfumes, for your actual cost. Say what? This particular bottle, would normally retail for somewhere between $369- $429 dollars a bottle.
And all of the females in any type of management or executive role. Or administrative role etc. They get one of your best smelling, 64 oz. bottles of perfume. Which typically retails for at least $850 dollars. And as long as they join to your opt in email/mobile marketing list,hey get their first order at your actual cost.Huh?
Doesn’t It Make More Sense To Spread The Word Both On And Off Of Social Media For Literally Pennies On The Dollar!
So after all is said and done.Let’s say 5,000 working women, are putting on one of your best smelling and therefore best selling perfumers, throughout their entire week.
And let’s be extremely conservative, and say they each know at least 25 women apiece.So the $64,000 dollar question begs asking. If only 30% of 125,000 women, spend on average, $700 dollars each, on their initial first (front end) purchase only. (5,000 x 25 = 125,00 x .30 = 37,500 first time customers.)
Will you probably gross a front end profit? Long before you factor in, any additional, back end sales. My semi educated guess would be yes.Now then.
So How Can You Continue To Ignore These 5 Potentially Profitable Reasons For Fully Embracing Some Type Of Relationship Marketing Strategies Or Tactics!
1.) Hack # one: By strategically utilizing some form of relationship marketing. Your typical order, from your first time buyers, are usually higher than normal.
2.) Hack # two: The fact your first time customer respects the person doing the referring. You greatly diminish, the gap between, them being just a prospect, or them being or becoming a customer and eventually long term repeat client.Don’t you agree?
3.) Hack # three: Your first time customers, who come to you, by way of some type of relationship marketing strategy. They tend to also refer high end customers, and do so far more often.
4.) Hack # four: Some form of relationship marketing, systematically lowers your front end marketing or promotional costs.Plus opens the door, to far more advanced, previously untapped marketing possibilities.
5.) Hack # five: These types of proven marketing arrangements, put you either, directly or indirectly in front of your target audience.For literally pennies on the dollar.Agreed?
Why Continually Throw Money At Outrageously Expensive Traditional Advertising Or Promotional Campaigns!
Case in point. recently, my collaboration-al bud, Emily Mills of ringostat.com fame. She interviewed me for an upcoming post which is do out shortly. BTW, there DA (Domain Authority) is currently 40. Which is higher than mine. So you know I welcomed the chance, not only to be interviewed by them.
But to be featured in an upcoming blog post of there’s as well. After, this is exactly the type of relationship marketing opportunities, which help you and I move our businesses or services forward. For literally pennies on the dollar. Is it not? Absolutely.
Hopefully you too, now better appreciate,how these 5 potentially profitable hacks, proven it’s definitely time, for you to fully embrace, some form of relationship marketing. Don’t you agree? Say yes!
Some Form Of Proven Relationship Marketing Definitely Shortens Your Traditional Sales Cycle!
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Hello Mark,
You have really shown amazing facts and they are very interesting to understand them. From aggressive sales techniques to short term transactions, modern marketing ideas have thoroughly shifted to a whole new dimension that is creating brand resonance and building long term relationships with customers.
In my opinion – When it comes to modern relationship marketing, customers are everything; they are the determiner of your enterprise’s success.
Building a good relationship with your customers is something that requires some techniques and your dedication as well.
Eventually, thanks for revealing a light on this topic.
With best wishes,
Amar Kumar
Agred Amar!
And very well articulated on your part.
Sadly, for whatever reasons, far too many profit seeking
entrepreneurs, would rather really on writing checks.
And not taking the time and effort, to continuously build,
rock solid, time tested relationships.
Thanks for taking the time, to shed some much
needed light, in this often ignored area of business building.
Greatly appreciated!