… so today we pick up where we left off yesterday.
Today – you see how I hatched the plan to multiply the lifetime customer value of this little boutique in the worst location of an upscale outdoor mall…
Me – “So here’s my idea… you’ve gotta start collecting names and contact information for your customers. Without it, you’re sunk. Just imagine for one minute if the owners of the mall come over and tell you they are increasing rent by 50% and you decide you need to move… how are your most loyal fans going to find you?”
Lisa – “I never thought of that. But, what can I do right away to make my customers come back?”
Me – “I think you should do a mystery envelope campaign… it’s super simple. You have a stack of discount cards and pretty invitation style envelopes out of sight. And, as you’re wrapping up purchases that are MORE than your average transaction.. you hand them a card in an envelope and say ‘now… do me a favor… I’ve given you a little gift in here… but I DON’T want you to open it until you get home. Do we have a deal?’
“Then, when they get home (they hardly make it home), they crack it open and realize you’ve just given them 15% off their next purchase of over the average transaction size in the business. But, there’s a catch, it expires in 7 to 10 days. You’ve introduced mystery, excitement, urgency, and you’re conditioning your customers to spend more than the average transaction size. And, you’re ONLY rewarding your best customers!”
Lisa – “That’s such a simple thing to do… and I’m excited to see how often I can get them to come back!”
Me – “And… after you have a list of your BEST customers… did you realize we can do some list wizardry and find out how to reach other people just like them?”
(more tomorrow as we unleash the audience multiplier trick and the cheapest way to attract new customers that look just like your BEST customers)
PS: This stuff works ONLY when you know your market, your message and your media. And, you can find that out in the “Startup Business Catalyst” package. If you already know that, then there’s a Smart Funnel package that we’re rolling out soon. If you need that, just hit reply and we’ll hook you up!