Today I've invited Tom Feltenstein, a marketing expert from The Pizza Insider blog advisory board to submit a guest post.
Tom brings 30 years of marketing know how to the table, once serving as a senior-level marketing executive at McDonald's and now consulting for Fortune 500 companies and touring the world speaking on Four Walls Branding and Neighborhood Marketing.
Today he talks about how to increase profits by focusing on the customer who is in your own backyard.
Win the Customers in your Backyard
By Tom Feltenstein
In my work I travel constantly. I spend hundreds of nights in hotel rooms and eat thousands of meals in hotel restaurants. I’m worth about $500,000 in food, beverage, and room charges annually. But no hotel has ever called me and asked me for my business.
I live a quarter mile from a chain grocery store. I’d estimate that I’m probably worth about $10,000 a year or so in grocery store food purchases. But no one has ever asked me to come in and do my shopping at that store, which is not just in my neighborhood but practically in my backyard.
For the savvy, thinking neighborhood marketer, the customers to grow your business are right next door, just waiting to be asked to do business with you. All it takes is a little thought and effort.