The no upfront cost to get new clients without your competitors even knowing what you are doing.
Before your prospect will buy from you, they have to know you, then like you and trust you. With trust being the most difficult as most people are wary due to their trust or someone they knows trust being taken advantage of.
One of the best ways to overcome these barriers is to find someone who is in a non-competing business. Someone who already has your prospect as their client and negotiating to do a host recipient alliance or joint venture with them. In this alliance they will market your restaurant to their existing client list.
Although this strategy overcomes the barriers above. Clients trust must never be abused or your restaurant will be short lived. If indeed you deliver anything less than a fabulous menu and service to your hosts list.
It takes much more effort and cost on your part to persuade a new client to buy from you the first time. It has been calculated between 5 and 9 times more expensive to get a new client to buy from you for the first time. As such you should always be looking for smart ways to obtain clients at the most advantageous cost to you.
Negotiating with non-competing businesses who already has persuaded your prospects to buy from them. Effectively get to buy these clients at no upfront cost to you save, the cost of running the promotion. If the promotion is electronic then there is effectively no upfront cost to the campaign.
The main reason this is such a powerful strategy is that your prospect already has a relationship with your host. As such they trust them. So, when they recommend you to their existing clients. The trust that they have for your host, projects onto you and as such they are massively more likely to purchase from you.
In order for this strategy to be effective you really need to have your restaurant set up for success. You must know your target market, your target client and what you are trying to achieve. If you don't have all of these elements clear in your mind please refer to the blog post below where I cover how to do this:
Now that you have the basics in place sit down with a piece of paper or an empty word processing document. Write down a list of all the non competing businesses who already have your target client as a client.
Contact the owner of the business and explain that you have a restaurant which their existing clients would love. That it would enhance their reputation with their existing clients by making your restaurant available to their clients. This offer will be at a preferential rate. In doing so the host will make a handsome percentage of the profits just for recommending you.
These can be very lucrative deals for you both as you gain a client at no up-front cost. Your host enhances his reputation with his existing clients and makes a handsome additional profit centre in the process.
A few caveats to this type of deal.
George Wells IEng FIHE is an author, consultant and coach. Author of 107 Marketing and Lead Generation Tips to Turbocharge Your Business in 60 Days or Less. Nomad currently travelling slowly in Mexico. George is the founder of George Wells Marketing and is on a mission to simplify marketing for 10,000 business owners over the next 5 years.