(And “How” You Will Too!)
So when was the last time you bought a bagel (providing) that your into it, to begin with, from Bruegger’s bagel? And what exactly does that have to do with you totally understanding and benefiting from the lifetime value of a customer value formula? Great question! And the real (long term), totally uncomplicated answer, just might surprise you!
Why You Should Make Understanding The Lifetime Value Of A Customer Formula….
(One Of Your Main Priorities!)
Have you ever participated in one Bruegger’s Bagels special promotions, where they say come in and say “hello” and get a free bagel? Every so often (or maybe) it’s once per year! In any event;
They currently have about 300 restaurants operating within the US, Canada & the District of Columbia. And while they sell (annually) about 70 million bagels per year; they don’t necessarily sell the really high end (aka) gourmet bagels per se.
So why not, offer them via another company they do a joint venture with. And totally maximize the lifetime value of a customer formula!
A Simple Way Brugger’s Could Can In Even More! Using The Lifetime Value Of A Customer Formula!
Here’s two incredibly simple marketing twists Bruegger’s could inexpensively test, in order to discover “what” if any impact, it might have on their overall bottom line!
First, allow anyone that comes to get their free bagel; offer them a jumbo (meaning) really large cup of coffer (or tea) cocoa (whatever!), for just $.25 cents more! Then offer them a special VIP card that says anytime they bring someone over 18 with them, they automatically get a large cup of coffee for just $.49 cents!
Instead of the regular price of X!
Next; let they enter a free drawing to win one dozen bagels every week for a whole year! Three guaranteed winners selected every week! If (at least) a million of their regular customers enter the drawing!
Bruegger’s simply sends periodic discount coupons for various weekly or monthly specials etc.
But they also send them to an affiliate link, where their customers can sample some upscale really expensive bagels from one Brueggers ‘s best (local) JV partners, that sell the more expensive upscale specialty bagels and other fancy deserts etc.
They customer simply purchases through Bruegger’s affiliate link and Bruegger’s gets X percent credit for every sale! That’s why Bruegger’s will happily give away a free dozen bagels every once in a while, during their come in & get a free bagel promotion!
Because that will get the social media word, don’t you agree? And it’s an incredibly simple way for Bruegger’s or any other savvy entrepreneur, like you! To capitalize off the lifetime value of a customer formula! Any questions?
Please list at least two simple spin off concepts (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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