I wanted to cite you an example of how I increased business over 33% with one simple strategy I learned and applied in less than one week. Prior to becoming a full-time media consultant, I was co-owner of a computer networking company that performed on-site computer services in San Diego, California.
There was a company down the street from our office that specialized in hard drive data-recovery services. All I did was contact the owner and ask if we could meet for lunch to brainstorm on a great concept that would be mutually beneficial to both companies. This concept would never create any competition between us, but it would create a win-win situation, guaranteed. It would immediately double our response rate to inbound telephone calls and extend both our services to all customers.
One thing we both had in common was the majority of our business came from Yellow Page Ads. Now, if you haven’t conducted research on rates, a quarter page Yellow Page Ad in the United States Of America cost anywhere from $12,000 to $35,000 USD per year. In other parts of the world prices can range anywhere from $500 to $48,000 for a quarter page ad.
I informed the owner of the data recovery company that we have many computers from customers that require us to retrieve valuable information off of the hard drive. The customer has one of two choices. They could throw the hard drive away or attempt to retrieve the data. Believe me, doctors and lawyers don’t have a problem spending large sums of money to recover lost information. Little did they know, there was a company right down the street from our office we could refer them to. What a great extension of our service.
In the same way, the data recovery company specialized only in recovering data; we specialized in fixing computers and building networks. Once they recovered data, they had no means to upload the information back onto the customer’s computer or other storage device. They needed a company to help them offer complete service to the customer; thus creating a one-stop service shop. This turned out to be a great extension of their service to our customers.
All we did was place a simple one-page display sign at their service desk in the front office promoting our services to their customers. They did the exact same thing at our office. Do you know how much referral business we received?
We earned over $5000.00 a month in service revenue from one hour of focused discussions on creating a win-win scenario. It was simply incredible. I don’t care what your plans are with business, whether it’s eBay, elephant tusks or selling fish tacos. You can do the exact same thing if you pick up the phone, take action and coordinate efforts with another company in your area that can compliment your products or services. There’s no excuse why anyone can’t apply this knowledge to there own business or self-promotion campaign.
This activity is far from something you would do on the Internet. It’s a smart offline strategy you can use in virtually any business.
Valuable Trade Secret: The reality of this simple strategy is powerful knowledge that’ll reduce customer acquisition cost by 33%. It will also have a significant impact on advertising costs, advertising’s return on investment and new customer referrals. You’ll be very surprised at how incredibly effective this strategy can be for your company or your own self-promotion campaign!
Think about this for a moment. When you can work with another company to sell a product or deliver a service and simultaneously increase your scope of service without
creating competition, both companies are going to save thousands of dollars. Why do you think there have been so many company mergers and acquisitions over the last decade?
Look at what Pepsi did when it bought Pizza Hut. Pizza Hut has thrived in the US because they give Pepsi away for almost free when you call up Pizza Hut and order a pizza. They can offset the cost by charging fifty cents more on the pizza, but lure you in with the free 2-Liter bottle of Pepsi. They use a consolidated purchasing strategy with effective marketing to gain market share. When you see a Pizza Hut ad on television, look at what they promote. They’ll always promote pizza and Pepsi every time. They don’t have to run two television commercials anymore. What a huge savings.
Please, don’t lose focus here! This concept is applicable to you regardless of business size. It’s something you can easily do to drive your prices down, increase profits and marketing exposure. If you work for yourself or at a company and you believe you could do this for your employer, approach them with this same strategy.
How do I know this works? I just explained it to you with my previous experience in San Diego, California. I explained it to you with what I see on television with Pepsi and Pizza Hut. I also shared with you what I learned about form the manufacturers I’ve talk to at the annual Computer Electronics Show in Las Vegas, Nevada.
My hope and intention is that you learn this concept and apply it directly to your business strategy
If you’d like more information on this smart strategy and see what I’ve done to out smart thousands of other business owners, please email me at michael@thebookpowersellershate.com
Happy Holidays,
Michael Perry
Senior Media Consultant
Las Vegas, Nevada, USA