(And Instead Start Leveraging And Monetizing It!)
Before diving head long into this particular subject matter. How many of actually enjoy a great tasting steak dinner? (No offense intended here! To you non meat eaters! 😎
But here’s the thing ladies and gentlemen. While it may not be totally obvious. To any mom & pop restaurant owners. There is most definitely a previously untapped back end goldmine.
Which can potentially be attached to their restaurant business. Which for any number of reasons. They may not currently be aware of. Don’t you agree?
You Can And Should Focus On All The Revenue Which Comes After Your Initial Customer Acquisition!
Case in point. (And as always fellow profit seeking entrepreneurs. The following hypothetical examples. Are strictly for marketing illustration purposes only!)
So in your particular area. Or your particular part of the world. On average, what’s a typical, tasty steak dinner cost? Whatever the figure is.
Imagine what will quickly start to happen. When one or several of your top Joint Venture partners. Start helping you market or promote your restaurant. Both on and offline. Similar to the following, extremely low cost, potentially highly profitable marketing strategies and and tactics. You and or your major competitors are about to be exposed to!
Help Your Joint Venture Partners! (So You Can Ultimately Help Yourself Too!)
Let’s you and at least one other guest. Both decide on two top of the line. Porter House steak dinners. And the price, (strictly for the sake of example! Is $21.50 each. Not including any type of drinks/beverages.
So what do you think will happen. When one of your top. Non directly competing JV/Joint Venture partners. Decides, instead of wasting another $25 – $40K this month. On those outrageously expensive, dismally performing.
Local 30-60 second prime time radio or TV ads. Or those not exactly cheap, full or half a page local newspaper ads etc.
What if instead. They initially tested a mere $2,500 dollars like this! The first 50 or X number of customers. Who spend at least $60 or X number of dollars.
They automatically save $20 dollars off their total bill! (Say what?) In reality, the extremely marketing savvy retailor. Will gladly pay the restaurant owner(s) their twenty dollars back!
Here’s Where And How You Separate The Pretenders From The Real Contenders!
Provided, the restaurant owners agree. To give these customers. A sealed envelop. With the words “Congratulations!” Written on the outside of the envelop. In big, bold red letters! 😀
Coming up very shortly in part two. You and or your major competitors. Will discover what’s in the sealed envelop! Or what potentially or should be!
Until then. Are you finally ready to discover. How to both develop, nurture and monetize the long term back end of your business and or service? Say yes!
Your Business Or Service Has A Back End!(And So Does Your Non Directly Competing Vendors!)
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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