Hopefully, you’ve read and started to implement some of what you discovered in Part One. If so, you should now be starting to fully appreciate how extremely savvy small business owners, startup entrepreneurs, and service providers are sitting on untapped money-making goldmines.
You should also hopefully realize that it is a huge and common marketing mistake to miss out on easy-to-pocket additional gross profits. Making this mistake can and will potentially cost your cash-strapped small business a fortune.
How Savvy Small Business Owners Add 25% More Gross Profits
Here’s another untapped marketing possibility, which has the potential to positively affect your businesses’s all-important, back end marketing sales funnel.
Think about how many times per day (all across America anyway), local cable representatives show up either to install or troubleshoot cable services.
And after they perform the necessary tasks, they simply have their customers sign off and then they leave, correct?
Sound familiar? Unfortunately, your local cable company and tons of other far less successful service providers are missing something. These people make frequent house calls 5-7 days per week and are making the exact same marketing mistake.
And doing so, over and over again, is literally costing them a fortune!
Successful Lead Generation Strategies Have Many Forms
What do you think will start to happen when the reps begin A/B testing various back end offers and prefacing them with an amazing deal? Imagine them saying to their customers, “By the way, there is currently an extremely time sensitive offer available to you! And we’re offering it simply because you are brand new or existing customer in good standing.”
The reps then let their customers know they qualify to get X,Y and Z upgrades in their new or existing cable services. These upgrades will save the clients 20-75% for the next six months to a year. In other words, they’ll be rewarded with locked in additional savings, simply by acting immediately.
The reps let their customers know they also automatically get to choose any three Pay-Per-View (PPV) events (or whatever ethical bribe you ultimately decide on). And they can save an additional 50% (or X%), just for doing so. The reps could also reduce or waive some customary fee for anyone who enrolls right away.
My friend, fast food giant McDonald’s has and does make a fortune on a daily basis using a similar, proven upsell marketing technique.
Your Small Business Is an Untapped Marketing Opportunity
Just think how much more profitable your local cable provider will become even if only 30% of those daily service calls yields more business.
When you start marketing additional products and services to your existing client base, you’ll quickly move away from the typical 10-20% gross profit margins to 50-70% gross profit margins.
Now of course, your particular product likely has nothing to do with providing cable services, right? So you might be wondering how in the world you can effectively tap into this marketing opportunity.
Following is a simple example of how aspiring service providers can strategically generate at least 25% more gross profits. They can do so simply by selling additional services to their existing or first-time customers.
The Marketing Possibilities Are Staring You in the Face
Let’s say you provide carpet cleaning services in a very competitive market. You constantly face various types of discount price wars.
Both you and your major competitors are busy slashing prices to razor thin gross profit margins. You are racing each other to the bottom.
But from now on, each time you land new, discounted price customers, you immediately need to make them aware of something. They need to know how much more expensive it will be for you to come back at a later date. After all, you have ongoing expenses such as gas, paying your employees, etc.
Therefore, it makes far more economic sense for them to take advantage of your additional savings right now. All you have to do is add another room or two to your current offer.
Your Business Can Serve as Another Vendor’s Lead Magnet
Plus, you cross-promote another non directly competitive vendor’s time sensitive “ethical bribe.” Employ this particular proven marketing strategy if you don’t currently have any market-tested ethical bribes of your own yet developed.
And my friend, with just a little strategic A/B ethical bribe testing, you will quickly discover a simple way of systematically adding an additional 10-40% more gross profit (found money) to your bottom line.
And you can do so in the next 90 days or less! Don’t you agree?
So hopefully, between this two part series, you have discovered how some extremely savvy small business owners routinely add an additional 25% more gross profit to their bottom lines.
In the comments section below, please share your extremely valuable advice that people can apply to their businesses in the next 30 days or less!
As always, if you got any value out of this post, please Google Plus or tweet this. Thanks!
And be sure you grab your explosive, free 22-step small business marketing idea kit series. It will help you increase your profits by as much as 25% in the next 90 days or less.
It will also help you master effective communication in marketing skills, no matter what your particular niche market is. It’s a $97 dollar value and it’s free!
Latest posts by Mark Newsome (see all)
- How to Add 25% More Gross Profit to Your Bottom Line Part Two - April 26, 2017
- How to Add 25% More Gross Profit to Your Bottom Line - April 25, 2017
- How to Use Lead Magnets to Grow Your Business Effectively - March 20, 2017
Thanks truly great to hear Ankit!
There is more potential hidden, long gross profit,
the average small business owner, and or service provider
is simply overlooking!
And these little known, rather tapped into opportunities
are waiting to be unleashed.
Either by you and or your major competitors!Grab your
share and please keep us up to date with not only your progress,
but any new, creative marketing twist you discover along the way!
Mark would love you to read ..Why Savvy Entrepreneurs Look For Creative Ways To Profit From Under Used Assets!
Thanks for Sharing this is great and helpful infos
can you help me with learning marketing as i have product and want make digital marketing for it
Thanks for sharing your extremely kind words Ahmed!
You are definitely reading the right blog, if you’re truly
interesting in learning, how to effectively market
your business, products and or services.
Gail Gardner, the owner f this awesome blog, is a master at
marketing, and specializes in helping small business owners,
service providers and cash strapped start up entrepreneurs.
She’s also my coach and mentor, so follow the advice she freely
provides on her blog, and implement her proven strategies, one step
at a time.
And you will definitely begin to see and realize, some bankable results!
Thanks again for your extremely kind words!
Mark would love you to read ..Why Savvy Entrepreneurs Look For Creative Ways To Profit From Under Used Assets!
Hi Mark,
It is an excellent post. And Nop doubts I learned some new things from your post. So, Keep up the good work.
And Have a good wee ahead.
Robin Khokhar would love you to read ..Benefits of SSL Certificates for WordPress Website
Thanks so much Robin!
And I’m so glad you found some value in the post!
Hopefully you will be able to implement and apply at least
some of these market tested strategies to your
business and or service, asap.
And as your start consistently doing so, take your
business or service, to the very next level or two.
Please be mindful, you have to stay fully engaged, by constantly
inexpensively testing, tweaking and monitoring your overall results
at all times.
And let your target audiences responses, or lack thereof, help guide
and shape your future marketing, advertising and or promoting strategies
and or tactics!
Mark would love you to read ..How Your Cash Strapped Small Business Generates More Customers For Less Money!
hi,
nice article for us ,and making how to make strategies for website building . this article is informative for us ,
thanks
Thanks Mansi!
Obviously there are tons of proven ways, for you and I
to become profitable, on or offline.
Just be sure, whichever strategies and or tactics, you initially
attempt to implement, have a proven track record of success.
Thanks for stopping by and sharing your thoughts!
Mark would love you to read ..So How Many Small Business Owners Constantly Miss Out Because They Don’t Do This?Part Four
Interesting article Mark. I definitely agree with you on some points there, especially marketing opportunities staring you in the face. However i’m curious about a business serving as a lead magnet for another business. It’s a nice idea, however the implications of it should it go awry does seem to be a turn-off!
George C would love you to read ..WeChat vs Baidu? WeChat Launches New Mobile Search Department
That’s always a possible outcome for sure George.
Ultimately, it gets down to how you potentially structure your
transactions.
Because if both vendors, or more have more to gain, than they do
to lose, everybody will continuously go out of their way, to provide
and sustain the value they have created.
Otherwise, quickly add up your current, ongoing costs, to generate and or create,
from scratch, a first time, brand new customer, client and or patient.
And then compare it to your potential ongoing costs, versus strategic cross promotions
and or using any type of mutually beneficial joint venture (JV) arrangement,
with a non directly competing vendor.
And see if you can’t afford the occasional JV arrangement, which doesn’t quite
work out the way you hoped it would!
Thanks for sharing some great points, which definitely have to be taken
into consideration!
Mark would love you to read ..How Extremely Savvy Small Business Owners Unlock Their Long Term Profit Vaults!Part Two
Hii Mark,
Thanks for Sharing this is great and helpful knowledge, I have no ideas but I visiting on your blog and I am reading the helpful Business base article. So, After following your methods my Blog working very well. I have learned really something new about after reading this article. Thanks, A lot of shared helpful knowledge.
Suraj Kumar would love you to read ..How To Hack Instagram Account On Android (2017)
Thanks Suraj!
hopefully, the proven marketing strategies you are being
exposed to, will continually help move your business and or service
to the very next level or two.
And you can definitely do so, without having to constantly spend
retail rates, desperately trying to generate, outrageously expensive,
brand new first time customers, patients and or clients.
Mark would love you to read ..You Consistently Do This And Your Cash Strapped Small Business Will Surely Fail!
Hi,
That’s great and helpful knowledge, After the visit a few months later. Some time ago I have started a blog. I have no ideas but I visiting on your blog and I am reading the helpful Business base article. So, After following your methods my Blog working very well. I have learned really something new about after reading this article. Thanks, A lot of shared helpful knowledge.
Have a Nice Day 🙂
Asif would love you to read ..Sales and Inventory System in PHP/MySQL with Source Code
That’s great to hear Asif!
I’m so glad you’ve finally gotten your
blogging efforts, to start rendering some positive
results.
Keep learning and keep inexpensively testing,
proven blogging and or marketing strategies.
Thanks so much for sharing your positive results!
Mark would love you to read ..So How Many Small Business Owners Constantly Miss Out Because They Don’t Do This?Part Four
Absolutely Pankaj!
But ask, by creating marketing strategies and or tactics,
which ethically bribe your ideal customers, patients and or clients, for
taken another step into your sales funnel.
Because it’s statistical fact, it’s up to 500% cheaper, and far easier, for you and I,
to sell and or market, your additional products, and or services, to your existing
customers, patients and or clients first.
As opposed to constantly spending a fortune, to try and convert first time strangers
and or completely cold leads, into initial first time buyers.
Mark would love you to read ..Why Your Small Business Should Take Advantage Of Under Used And Or Dead Assets!Part Four
Hey Mark,
I guess the biggest thing in marketing you can do is ASK!
Ask them and you never know how many people will say yes to you. Another thing is to offer freebie services and people who like freebie might switch to premium or possibly you can monetize it later.
Pankaj Dhawan would love you to read ..12 Precious Tips To Help You Get Better At Writing Quality Content
Very true Pankaj.
However, be sure you’re strategic with your list building or ethical bribe
freebies.
Meaning, it’s definitely okay to utilize freebies, provided your ideal prospects
or current or future customer or clients, take the specific actions you want them to
take.
The actual hard cost of consistently giving away some type of ethical bribe.
May be virtually pennies on the dollar. As opposed to constantly paying for
outrageously expensive, dismally performing ads!