Ever notice, how most extremely successful entrepreneurs, no matter how many obstacles,challenges and or major or minor disappointments they continually face.Through it all.
All too often, they still manage, to somehow zing their way to ultimate success.And maintain it.
While (sadly!), far too often, their major competitors, zag their way to ultimate failure.Funny how things practically, always seem to pan out like that.
Have you noticed this all too common trend as well? Here’s the thing, throughout their ongoing journey, as they continually struggle, especially in the beginning, just like everybody else.
At some point, as they begin to put proven systems and other battlefield tested processes in place.
Sooner or later, not only do they readily embrace modern technology, but various forms of, money making automation becomes a mainstay as well. Let’s take a much closer look at an instance or two.
So Who Else Wants To Discover How Some Extremely Marketing Savvy Entrepreneurs Consistently Manage to Reduce Their Front End Cost While Simultaneously Increase Their Overall Profits!
So here’s where most, extremely hard working, semi cash strapped, ultra dedicated entrepreneurs, far too often blow it.
Initially, they try and generate, their -all important- first time customers, clients and or patients, using outrageously expensive, traditional advertising mediums, like they consistently see the fortune 100 & 500, big boys and girls constantly doing!
However, the major difference is, the fortune 500 types of businesses and or services, have incredibly deep corporate pockets!
And literally millions of dollars in advertising and promotional budget assets, they can and do use, to splash their corporate message, image and long term branding impact, into our brains.
What semi resourced challenged small business owner, and or service provider has the time or money for this outrageously expensive approach? 😀
Start Consistently Creating Money Making Marketing Leverage With Your Current Customer Base And Proven Technology!
This next proven marketing strategy, could just as easily be base around your current, email marketing strategies. It’s just this potentially versatile.
Case in point; let’s say you currently run, a successful high end,single location, women-s retail clothing boutique and accessories store.
Which means, some of your more popular hand bags, typically retail, for $950 dollars and up. So the local women, who frequent your shop, they typically earn, in the high five and six figure a year income, do they not?
Which further means, they typically, work for, with, socialize with and or employ other women, who generally earn the same type of yearly income, correct?
Savvy Entrepreneurs Try Not To Re-invent The Wheel Of Proven Success!
since you’re already, at least vaguely familiar, with various ‘bounce back’ type of offers, correct? Or at least you should be, if you’ve been an active reader of this particular blog. 😀
Follow this, so a customer comes in, and buys a really nice, designer hand bag, which normally retails for at least $575 dollars, plus you (and or) your professionally trained staff, immediately offer her an upsell, where she can purchase some great looking power pumps, for just $225 dollars more, when they normally retail for $325 dollars! 😀
At least 30% of these fashion conscious ladies get resist and they go for it!Now then, here’s your first A/B split test type of bounce back marketing strategy test.
Since this particular patron, invested a total of $800 dollars. ($575 + $225 =$800 dollars total.) Do strategically test two approaches.
Your Creative Entrepreneurial Skills Will Definitely Lead You To The Marketing Pot Of Gold!
1.) Potential strategy # one: Every paying customer, who spends over X, (in this particular case only!), since she spent over $500 dollars.
You allow her to reach into your in house grab bag! And some of your goodies include, a free day at the spa, valued at -at least $250 dollars!Or $100 dollars in cash! Or a$200 dollars worth of local grocery store coupons!
A dozen roses and a gourmet box of chocolates, either sent directly to their home, job and or place of business.(worth a minimum value of X!)
2.) Potential strategy # two: Next, for all the ladies to spend less than $500 dollars or X. Offer them an extremely time sensitive ‘bounce back’ offer, where they get ethically bribed, for bringing a friend, whose not a current customer, and they save 20% off their next purchase.
Or, as long as their an opt in email/mobile marketing subscriber, they save an additional 10% off their total purchase, simply by bringing a friend and being an active subscriber.
You Can Definitely Put Your Marketing Leverage On Steroids Simply By Catering To Your Most Loyal Long Term Repeat Customers And Or Clients!
Of course, before you begin any type of long term, non conventional marketing plan such as this. You definitely have to know and understand, your particular target audiences, total lifetime customer value metrics.Correct?
And in this particular case, the women-s clothing boutique-s, ideal female customer, currently has a total lifetime customer value metric, of at least $8,500 -$13,000 dollars, over the next five to seven year period.
So every lady customer who spends above $500 dollars or X. You gotta roll the read carpet.
Your immediate, extremely time sensitive ‘bounce back’ offer to them, should ethically bribe them, by waving a beautiful pair of diamond studded earrings, which typically retail for $350 dollars a pair!
You let them know, simply returning to your store, with another potential first time customer, who in all likelihood, earns what they do and or extremely close to it, correct? 😀
They get those earrings for cost! Plus any and all applicable taxes & fees!
So in other words, they pay just $175 dollars or X!You know their social media accounts will most definitely light up, will they not? Absolutely.
My friend, are you starting to appreciate, how some extremely savvy entrepreneurs (just like yourself!), are consistently able, to reduce their upfront cost, while simultaneously increasing, their overall profits! Great!
P.S.Now as is customary during this part of our show.
Please share your extremely valuable comments (in the comments section below)
which you can apply to your business, product or service in the next 30 days or less!
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