3 Steps to Boosting Profits & Sales for Local Businesses
While many small business owners are still using group buying sites like Groupon, Living Social, & Amazon to attract new customers. What many of these businesses are finding is the new customers come in to claim their deal and are never seen again. Unfortunately this is the by product of how group buying sites have programmed buyers to be "deal seekers." And while the influx of traffic is great, the end results... not so much!
What's even worse is, most of these business owners lack even the most basic marketing strategies to keep these deal seeking customers coming back. After all, having discount customers is still better than having NO CUSTOMERS.
From: The Desk of Danny Fortes
Location: A local coffee shop in Phoenix, AZ
In this video I will share 3 Instant Strategies ANY small business can implement starting tomorrow to attract new customers and keep these and current customers coming back month after month... year after year.
Are you using group buying sites? Here's some problems...
- Business/Business owner does most of the work
- Business has NO control over the amount sold or days of the week
- Business loses money on the promotion 50% discount (cost of voucher is split with company)
Matter of fact, the marketing tips below, although basic, will have a profound effect on ANYONE'S business in ANY NICHE over time if they simply apply them long enough and consistent enough.
How do I know this will work for your business?
Well I can't say for sure that it will. However, let's just take a look at some companies who already use these basic principles and see how it's working for them.
Groupon is a gazillion dollar company built off the heels of asking their webs site visitors only 2 questions. Care to venture what those 2 questions are?
Yep that's it... Groupon has built their entire business model around keeping it ridiculously simple. They simply have built a subscriber list of people around the U.S. in different locales simply asking them for their city and email with the promise of sending them AWESOME deals in their city from restaurants, spas, hotels, and a whole host of other services.
Let me ask you a question... are you currently asking your customers for their email address? If you are not... why? If you are ... when was the last time you sent them an email offer that made them want to take ACTION and SPEND MONEY with you TODAY?
Today, this can change for you & your business.
Here are 3 ways that any local business can start building profits and sales simply implementing these 3 Instant Marketing Strategies today.
1. Collecting an Email Address
The most basic & fundamental form of marketing is simply collecting an email address from your customers. Here's a statistic that may shock you.
For every $1 spent, $44.25 is the average return on email marketing investment. (Experian)
2. Offer a RIDICULOUS Discount
Offer a ridiculous discount in exchange for their email. This is also referred to as an irritable offer. You can also let your customers know that this is a V.I.P. list and the customers on this list will receive alerts & deals before anyone else.
Special offers are the the #1 motivation for mobile users to opt-in. - eMarketer "Special Offers Get Mobile Users to Opt In" (2014)
3. Implement a Loyalty Program
A loyalty program is another way of simply spreading your discounts over time. The easiest way to keep customers coming back again and again is the occasional freebie. A loyalty program helps you to test, track, tweak what promotions are working and what's not working. These promotions help you monitor who are the most loyal customers. Knowing this can arm you with more data to reward those who frequent you the most.
Here are some loyalty program statistics taken from dbssquaredinc.com
- Repeat customers are 6-7 times less expensive to come by than new customers
- A 2% increase in customer retention has the same impact as decreasing costs by 10%
- The probability of selling to an existing customer is 60-70%, while the probability of selling to a new client is just 5-20%