(And Start Growing Exponentially!)
In terms of the natural scheme of things. With regards to your independently owned retail business. You will constantly have a certain number of even your most loyal customers. Occasionally move away.
Start patronaging one of your major competitors. Or they unfortunately pass on! Or have a major disagreement with you. (Or Someone in your company!) And decide not to do business you any more!
When you factor in all of these situations. It only makes sense. You should further monetize your underutilized assets and or resources. Don’t you agree?
Make Your Ethical Bribes Relevant To The Majority Of Your Current And Future Customer Base! (And Watch Your Long Term Gross Profits Increase!)
Think about this all too common occurrence. See the happy customer in the featured image? She appears to be pretty happy with her purchases, correct?
Think about a few incredibly simple, extremely low cost marketing strategies and tactics. The clothing or shoe owner(s) can and definitely should use.
To not only keep their customers coming back! But especially their higher end customers.
You’re already familiar with strategic, extremely time sensitive “bounce back” offers, correct? So what about inexpensively testing. Modified bounce back offers. Say what? 😀
You know, each time they return. (Within a certain time period.) They save X% off. However, each time they return with a friend/guest. Who’s at least 18.
They save X% more. And after three or X number of times they return with a friend/neighbor and or colleague etc. They automatically save the maximum of X% off their total purchases!
Here’s Where Your Word Of Mouth Marketing Opportunities Soar!
And here’s where your ethical bribes. Start increasing your long term gross profits exponentially! Because now on their 3rd of X number of return visit.
They get the sealed envelop. Along with their purchase. The outside of the envelop reads. “You definitely deserve this!” 😀 One of the coupons says! “Dinner is on us!”
It’s a coupon from a popular, local, non franchised pizza shop. Two or X number of Xtra Large cheese pizzas. (Toppings are extra!) At the pizza parlor owner(s) actual hard cost.
Another one is from a popular, local, independently owned massage therapist! And maybe a 3rd extremely time sensitive discount coupon. Is from a local, independently owned gift shop.
You know this will create a ton of ongoing word of mouth and mouse buzz, correct? For literally pennies on the dollar!
How’s that for strategically monetizing your underutilized assets and or resources?
You Don’t Need To Rely On Outrageously Expensive Advertising! (In Order To Grow!)
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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(Click the link just below, and watch the first video at the top of the page, if you’d like to see the entire 33 minute replay, of a guest podcast on marketing your small business or service. I Recently appeared on.)
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