(Regardless Of The State Of Your Local Economy!)
Hopefully after reading part one of this ongoing series. You can now much better appreciate. How a simple Xtra Large frozen yogurt cone. And or a simple Xtra Large ice cream cone.
Can and definitely should lead to some major long term gross profits. For literally on the dollar. On both the front and potentially far more lucrative back end. Don’t you agree?
You Can Definitely Lower Your Initial Front End Advertising Costs!
Picking up where part one left off. As you recall. Your mom & pop retail appliance store. Initially invested $5,000 or X amount of dollars. Into to pay the actual hard cost of an Xtra Large frozen yogurt cone.
Which typically retails for $2.85 each or X. And you and or your major local competitors.
Pay either the frozen yogurt shop owner(s.) Or the ice cream parlor owners actual hard cost of one dollar. And the shop owners market their Xtra Large frozen yogurt cones.
On two of their traditionally slowest days of the week. This way. Any customer who only buys one. They pay the current retail price of $2.85 each or X.
But every customer who buys two at a time. They get to buy a maximum of two Xtra Large frozen yogurts or two Xtra Large ice cream cones. And on the two designated slowest days of the week only.
They get to purchase them for $1 dollar each. So you know at least some of the locals will be extremely happy, correct? And a certain percentage of them will definitely help spread the positive word of mouth and mouse buzz, correct?
This favorable pricing strategy should cause a steady flood of avid frozen yogurt or ice cream lovers to come in more often. If nothing else. Or those two designated days. Would you not agree?
Creatively Utilize Your Average Customer Acquisition Costs!
Let’s quickly have a closer look at the customer acquisition costs. Since each Xtra Large frozen yogurt cone. Or Xtra Large ice cream cone. Has an actual hard cost of $1 dollar or X.
For this strictly hypothetical marketing example. This means you and or your major competitors initial $5,000 dollar investment. Buys 5,000 locals these tasty desserts, correct? 😀
And since every boy knows at 25 other locals. This means potentially 125,000 other locals. (Depending on how large a city, town or rural area you live in. 😎 (5,000 x 25 = 125,000.)
And each one of these 5,000. Or whatever the actual number turns out to be. They receive a sealed envelop. With the words “Congratulations” written on the outside of it. In big, bold red letters.
As soon as they rip it open. They discover one of you and or your major local competitors. Best market tested, extremely time sensitive new customer only discount coupons inside.
Side “A” invites the recipient to join your opt in email list.
For their chance to enter you and or your major competitors monthly or quarterly free drawing! For their chance to win a state of the art. 65 inch flat screen TV. As well as a state of the art tablet. 😀
This Is Where It Officially Gets Interesting!
And side “B” invites the recipient to come to you and or your major competitors store. Within a short 72 to 120 hour window. They come alone. And they only save 10 or X% off. Up to a maximum of $200 dollars or X.
However, simply for dragging a friend. Who’s at least 18. Before the X day expiration date window expires. They automatically save up to a maximum of 40 or X% off. Up to a maximum of $2,000 or X amount of dollars.
But also consider the following ladies & gentlemen. Typically 30% of in this particular. Hypothetical example only. 30% of 125,000 equals 37,500. (5,000 x 25 = 125,000 x .30 = 37,500.)
Strictly for extremely eye opening laughs fellow profit seeking entrepreneur. Let’s say the average spend is a mere $750 dollars each. Times 37,500 locals. ( I’ll let you have the pleasure of doing the math. 😎
Even if it’s half of that number. Is that still an excellent return on investment? (ROI.) 😀 All that originally stemmed from an Xtra Large frozen yogurt or Xtra Large ice cream cone? Any questions?
The Previously Untapped Marketing Possibilities Are Literally All Around You!
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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