Secret No. 16: What Are Your Marketing Goals?

The all absorbing aspirations for every marketing project should be large sales and giant net profits.

Together, they equal the number one reason for any marketing effort.

If you want to create an ad merely to win awards, or if your goal is to receive accolades and praise for your advertising creativity, then get yourself a job at one of the many Madison Avenue or local ad agencies.

“A man must be big enough to admit his mistakes,
smart enough to profit from them,
and strong enough to correct them.”

Unknown


For business owners like us, the only purpose of marketing or advertising is to produce profits. It doesn’t really make any difference what your business associates, employees, suppliers, spouse, kids, or friends think about the artistic merits of your advertisement.

If it brings in added profits, it works!

What should matter to you is that your prospects and clients react to your marketing by buying your product/service.

It takes total focus to create new sales and profits for your business.

Only when you are focused totally on your profit goals will you be able to roll out a successful marketing effort.

The more that you learn to trust your instincts and to analyze data results from your marketing efforts, the more successful that you’ll be in your business.

Are the goals for your marketing efforts as “profit focused” as they should be?

Posted in business, focus, marketing, profits, purpose | Leave a comment

Secret No. 15: How Organized Are Your Marketing Plans?

After you have read everything that you can about marketing (including these secrets).

After you have traveled thousands of miles in your “personal automobile university” (listening to educational CDs and tapes in your car).

After you have studied all of the information that you can find everywhere else, then it is time for you to write your marketing plan.

Gather all of your experience, education, and advice and decide what you will do to grow your business.

Begin by trying and testing your marketing ideas.

Use small and safe tests.

Estimate how long that it might take for you to see the results of your efforts by creating a marketing calendar to help to guide you along the way.

This road map will help you to see how overlapping plans and campaigns affect each other. More importantly, use your marketing calendar to track your results. This will allow you to see clearly which efforts were profitable and which should be discontinued.

Learn to keep each marketing effort that you undertake flexible. You will discover which efforts prove to be effective. You will want to use them again, expanding them into new geographic areas and markets.

“Important principles may and must be flexible.”
Abraham Lincoln

Unfortunately, you also will find out which efforts proved to be bad ideas, ideas that did not create measurable profit. These marketing efforts should be eliminated. Don’t waste valuable time and effort trying to fix them. Stick with what works or try something new.

On your calendar, use highlighter pens in different colors to indicate how long the results of each campaign should take.

If you’re a more “digital” type of person, there are many good computer programs and on-line project management to help you to track your marketing efforts.

These tools will make it easy for you to compare visually how the actual results measure up to your preimplementation expectations. This information will help you to “finetune” your ongoing efforts.

How flexible are your marketing efforts?

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Secret No. 14: How Much Money And Time Do You Spend To Bring In A New Client?

How Much Money And Time Do You Spend To Bring In A New Client?

An even more important question to ask is, “Do you know the ‘Life Time Value (LV)’ of that client?”

Very few business owners take the time to learn this important secret. They don’t understand what a “life time value” is!

In addition, they don’t realize how viewing customers with this approach can change the way that you do everything in your business.

What does “lifetime value” really mean? It’s pretty simple. Lifetime value is the average amount of money that a customer spends (and the profits that you make) from the first time that the person buys something until his/her last purchase.

“If we value the pursuit of knowledge, we must be free to follow wherever that search may lead us. The free mind is no barking dog to be tethered on a tenfoot chain.”
Adlai E. Stevenson


For example, if your average sale is $50.00 and the profit on that sale is $15.00, and your average clients buys from you 10 times per year for five years, then your sales to them are $2,500.00 with a LTV of $750.00 in profit. You should be able to determine how many “average” customers you need to have to make the profit that you desire.

If the actual figures on this are not available or are hard to calculate, use your “best guess.” Attempt to figure out what amount your average client will spend during the time that s/he is doing business with your company.

It is even more important to try to determine how much of that total amount is profit. Study the results in detail. You should be able to determine the average number of “repeat” or “backend” purchases that each customer makes after the initial sale.

When you know the average amount of LTV profit that your business will make on each customer, then you will be able to calculate how much you are willing to invest to get a new client.

From our example above, we know that we will make $750.00 of profit on the average client. Knowing this, we also know that even if we spend $250.00 to get that client to buy our products/services, there still will be $500.00 of total profit from that client.

If the majority of the profits that you make on your average customer come from sales made after the initial sale, then it might make sense for you to sell at cost, or even a little below cost, on your first sale. You can do this knowing that you have landed a customer who then will give you the opportunity for additional “repeat” sales.

Knowing your client LTV allows you to focus your marketing efforts. You can target new customers with special “sales” or with other offers designed to bring them in the door.

In addition, you can market to your current and prior customers with campaigns that are designed specifically to generate the repeat business that produces most of your profit. When you can answer the crucial question of “Lifetime Value,” you will be ready to determine how much you are willing to invest to bring in a new client.

Do you know what the lifetime value of your customers is?
If not, what can you do to find out?


Posted in advertising, backend, direct marketing, life time value, LTV, marketing, money | Leave a comment

Secret No. 13: How Much Information Do You Have?

How Much Information Do You Have?

The first time that I really became aware of the vast array of information available to me for use in marketing my clients’ businesses, it blew me away.

One of the best sources of information is your local library.
Call the reference desk and ask where you need to look for specific information. The librarians will lead you to many sources that you never knew existed.

Most of the recommended resources may be within the library walls or available through the library Web site. In fact, some librarians will do research for you if you just ask them for their help.

My local list broker, Ted Kelter, Vice President of Burnett Direct of Farmington Hills, Michigan, is a great information source. I call him on a regular basis and pick his brain. Ted has been an invaluable resource when I am digging for information to use to market my clients’ products/services.

His “list” advice and direct marketing expertise have been a very profitable resource for my clients.

I suggest that you call Ted 248-932-7100 or look for list brokers in your area. Get to know them and use their services.

Here are some other information source possibilities: I often consult my local Chamber of Commerce because they know who is new in town, who is leaving town, and why.

The local newspapers are great for monitoring the advertisements that your competitions are running. Also, classified ads in newspapers will tell you who is hiring. Bankruptcy lists will tell you where to buy inexpensive equipment that you can use to grow your business.

Local college business offices are another great source to find out who is hiring. They also can connect you with “interns,” college students who are inexpensive to hire and can bring fresh ideas to your business.

“You’ll never have all the information you need to make a decision. If you did, it would be a foregone conclusion, not a decision.”
David J. Mahoney, Jr.

Your local “Yellow Pages” and “Online Yellow Pages” have been a consistent source for new business.

For example: I Look for industries that spend a lot of money in the various “Yellow Pages,” and I offer my marketing services to them. The advertising in the “Yellow Pages” will inform you about how much competition you have and how your competitors advertise their services.

Another great source of information is in the Federal Government reports that are available on the Web. A starting point for finding them is www.LOC.gov (Library of Congress). There are thousands of reports available on many subjects. Some of these reports are free, while there may be a very small fee for others. Also, the Web is an endless source of information that can be found almost instantly. If you can think of it, it usually can be found.

What information do you need today that could help you to market your business tomorrow?

Where are you going to go to find it?

Posted in information, library, lists, marketing, reference, research | Leave a comment

Secret No. 12: Are You Researching Your Prospects To Improve Your Business?

Are You Researching Your Prospects To Improve Your Business?

Focus, focus, focus.

First and foremost, focus on the potential clients to whom you want to sell your products/services and not on what you are trying to sell.

If you know who your intended clients are and you can address them directly in the headlines and body copy of your print or broadcast promotions, then this will improve the rate of response to your marketing effort.

For example, the following headlines address a target market by talking to them very specifically: “Attention Homeowners, Do You Need Extra Cash? It May Be In Your Home!” and “The Complete Sales Program for Dentists.”

In order to target your prospects well, you need to do some initial research.

Ask your prospects exactly what they want by using direct questions, client surveys, and informal studies. You could mail a questionnaire or survey to your existing clients that asks them why they do business with you.

Use their answers to direct your marketing messages to the specific wants and needs of your prospects. Target only those prospective buyers that are most qualified to purchase your products or services.

It is important to research the type of clients that make up your market and what it is that they really want. Prospects want to know what added value your company can offer them, so you must be ready to provide the reasons why they should buy from you. Your research should enable you to do this well.

The more that you know about your clients and prospects, the easier that it is to give them more than they expect. You need to gather all of the information that you can about your prospects. In order to be able to sell something to someone, you have to know how they feel, how they think, what they fear, where they live, etc. Most importantly, you need to know WHY they want to buy what you have to offer!

“A businessman’s judgement
is no better than his information.”

R. P. Lamont


Try to visualize a day in the life of your potential client.
What happens in it?
What does the person worry about?
What does s/he want?
What scares him/her?
What does s/he enjoy doing?

I could go on and on here, but you get the idea. Do your research. Ask a lot of questions. Think about and try to analyze why your clients do what they do. If you do this consistently, eventually you will begin to know why they buy from you, or why they don’t.

Start your research by asking your existing clients why they do business with you.

If you can find a way to do it, ask your former customers why they stopped doing business with you or what you could be doing to get their business back. The answers that you get can teach you an awful lot about how people perceive your business.

“Learn to ask for what you want.
The worst people can do is not give you what you asked for—which is precisely where you were before you asked.”

Peter Williams



Hopefully, you will learn from what you hear.


Another thing that you can do is go to the local library and read the magazines and other publications to which your clients subscribe. Learn about your clients by reading what they read. If you don’t know which publications you should be studying, then ask your customers what they read. Look up articles in back issues that are posted on the Internet. Use all of the information that you can gather to sell your prospects what they already want to buy.

Why is it that your clients buy your products/services?

Posted in headlines, marketing, questions, research | Leave a comment

Secret No. 11: What Makes Your Business, Products, And Services Unique?

What Makes Your Business, Products, And Services Unique?

It is very important to think in terms of what your business can do for the prospective customer.

A Unique Selling Proposition (USP) is the first marketing effort that you should think about for your business. Your USP is written to separate your business from your competition. It does this by telling the world what is unique about the product/service that your business offers.

Your USP should create tension, desire, and urgency in the reader’s mind. Written in one clear, concise sentence, your USP should be the essence of what you are offering.

Your USP should come immediately to your client’s mind when s/he thinks of your products/services.

Can you provide three compelling reasons for doing business with your company? For example, “Fast, cheap, and good” or “Simple, easy, and lucrative.” Your USP then should answer these questions: “How fast?” “Why is it easy?” “What’s so cost effective about it?”

Your USP should be good enough to be used as a headline in any of your marketing efforts. The best USPs are written so tightly that not a single word can be changed.

Here are some examples of great USPs:
“Good to the Last Drop;”
“Takes a Licking and Keeps on Ticking;”
“Fresh Hot Pizza Delivered in 30 Minutes, Guaranteed;”
“Because So Much Is Riding on Your Tires.”

I bet that you can name the companies to which these USPs belong.

Does your business have a concise, unique, and effective USP?

Why should someone buy your products/services?

Dan Kennedy, the author of many marketing and business books, including How to Make Millions with Your Ideas: An Entrepreneurs Guide (Plume, 1996), asks an important question: “Why should I choose your business/products/service over any/every other competitive option available to me?”

This question should help you to open up your mind and get you thinking about your USP. It should give your customers a complete answer to this question.

Does yours?

Research is to see what everybody else has seen
and to think what nobody else has thought.”

Albert Szent Gyorgyi


If you have a problem answering the vital question of why someone should choose to do business with your company, then it will be even harder for your clients and prospects to answer it. This will make it hard for him/her to buy whatever it is that you are selling.

Do you know if your customers realize why they should be buying from your company?

What are the benefits of your products/services?

Sometimes it’s hard to come up with anything unique about your business, so it may be easier for you to express the benefits that you offer to your clients.
H. Brad Antin and Alan Antin, the authors ofSecrets from the Lost Art of Common Sense Marketing (Antin Marketing Group, 1992), have devised an alternative to developing your USP.

They call it a “Statement of Benefit,” or SOB.

Ask yourself, what are the real benefits that people get when they buy from me? Dig deep. Try to identify the biggest benefit of, or the hidden benefits in, doing business with you.

Only after you learn the real reasons why people decide to buy from you can you package and present your information to your buyers from their own perspective. When you do this, you can crush the competition.

When your client or prospect is looking for an answer to a specific problem, your SOB should be able to answer it. Here are two examples of great SOBs: “When it Absolutely, Positively Has to Be There Overnight” and “Melts in Your Mouth, Not in Your Hand.” Your SOB should lead your client or prospect to you.

What “benefits” solve your client’s problems?

Posted in marketing, marketing books, research, unique, USP | Leave a comment

Secret No. 10: How Many Things Are Competing For Your Attention Right Now?

How Many Things Are Competing For Your Attention Right Now?

In today’s world, we are overwhelmed with far more information than ever before.

TV (both network and cable), radio, the Internet, hundreds of newspapers and magazines, faxes, e­mails, cell phones, PDAs, multiple 24­hour news and sports channels, newsletters, etc., etc., etc.

Even worse, each source of information is screaming louder and louder to get our attention.

All of this information and “noise” makes it very important that you target your marketing precisely to the people who actually want to receive it.

Precise, targeted marketing is indispensa­ble for every business. When you know exactly who will buy your products or services, you can save thousands of marketing dollars by directly contacting only those people who have an ‘affinity’ to buy what you are selling.

Target your marketing where you know that your typical customer will be looking.

“Genius is recognizing the
uniqueness in the unimpressive.” ­

Anonymous

Example: I wrote a marketing plan recently for a group of financial planners who had developed a system of advice for couples who are going through a divorce.

We did some research and found out that over 14,000 couples divorced every year in the metro Detroit area, where we are located.

Even if we were only to sell the planners’ services to 1.25% of these couples, at an aver­age profit of $750.00 for the services and materials involved, the revenue in the first year would be approxi­mately $273,750.00.

That’s just the tip of the iceberg. The real income is made on the “back­end” financial planning commissions from the insurance and investments that are made for the divorcing couples.

Since divorce typically is a very private issue, we decided to market using a referral sys­tem.

Divorcing couples can locate my clients’ services through religious organizations, community and govern­ment organizations, business organizations and associa­tions, real estate associations, hospital and medical organizations and associations, arts and humanities organizations, CPAs and enrolled accountants, family marriage counselors and psychologists, and estate plan­ning specialists.

Typically, these are the groups that divorcing couples go to for advice.

Do you know who your ideal clients are and where to find them?

What can you do to target your clients and prospects precisely?

Posted in competition, information, target marketing | Leave a comment

Secret No. 9: Who Is In Your Sights?

Who Is In Your Sights?

Understanding that you can’t market to everyone is very important to your business survival.

To many business owners want to market to anyone who can steam a mirror.

But you can’t afford to market to anyone who can steam a mirror.

You don’t want to waste your valu­able time and marketing dollars.

There are people who won’t want what you are selling and perhaps others who can’t afford it.

It is a lot easier to sell to people who already have bought a similar product and either want more of it or want a different or improved version.

Known users of products/services like yours are easy to locate in your library’s reference database. They also can be located on the Internet, in the many news groups, on-line groups or blogs to which people with specific interests belong.

Find these groups. The people who belong to them are “high ­purchase probability” prospects.

“As I grow older,
I pay less attention to what men say.
I just watch what they do” ­

Andrew Carnegie

Get your hands on a contact list of people you know for sure, want and can afford what you are offering, then start your marketing process.

Do whatever it takes to reach these contacts.

Who wants what you are offering?

Posted in database, Internet marketing, reference | Leave a comment

Seven Fatal Selling Mistakes To Avoid

Here are the fatal seven “selling mistakes” that many people make.

They are not in any particular order.

You will know which ones are costing you money and need improvement.

“While one person hesitates because he feels inferior, the other is busy making mistakes and becoming superior.”
-Henry C. Link

Fatal Mistake 1:
Failing to become a welcomed guest.

Bonding and rapport is critically important part of every sales call. It does not matter if it’s a first call, fifth call or a milk run call.

Look around, find something that you have in common with your prospect/client. Find a way, anyway, to link with him/her. It could be a mutual friend, a business associate, or a leisure activity.

Try talk about your connection long enough to become comfortable with each other before talking about business. It’s far better than wasting time talking about the weather. People like to do business with people with whom they feel comfortable with.

Fatal Mistake 2:
Thinking that the prospect doesn’t have enough money.

A prospect almost always can find the money to purchase what you are selling if they need it badly enough. Explain all of the benefits that your buyer can begin to get from what you have to offer. Ask questions to create or expose needs. Find things that are so important that solving them overrides the cost.

If you can show someone that s/he can’t live without what you are selling, then that person will find the funds to purchase your solution.

The bottom line is that it’s up to your prospect to come up with the funds. It may be wise to offer them some creative payment options if that will help you close the deal, but your main job should be to create, expose and have the perfect fit solution to their needs.

Fatal Mistake 3:
Failing to ask the right questions.

Ask prospects specific questions to find out if you actually can solve their problems with your products and services. Ask questions to qualify them as decision-makers. Ask “Who else besides yourself will be involved in the decision-making process?”

Ask questions about financial matters, such as “How will you pay for these services?” Ask questions that separate you from your competition. Try beginning most of your questions with the words: When, What, Where, Who, and How.

As an experienced sales person, you’ve heard it all before. You here common problems and objections from everyone. Use that common information and ask questions to get the real problems out on the table.

If you are just getting started in sales, ask a successful sales associate for help. Ask your mentor what questions have been successful for him/her, it will shorten on your learning curve and lead to faster sales growth.

Test and track what questions work and what questions fail. Once you have discovered the perfect questions, keep using them, hone them razor sharp and keep using them until they stop working.

Fatal Mistake 4:
Talking too much.

Ask questions. Then shut-up and listen to the answers. Talk no more than 37% of the time (even that may be too much). Get your prospect to do most of the talking. Ask pointed questions, and keep your prospect answering.

Keep full control of the conversation, but let the buyer think that s/he is controlling it. The more that you let your prospect talk about himself or herself, the more that s/he will like and trust you. This may lead him or her to close the sale for you—all you have to do is listen.

Fatal Mistake 5:
Putting down the competition.

Sell for yourself and not against someone else. Substitute the words “industry standard” for “competition.”

NEVER say one bad word about your opposition. If you have to talk about them at all, praise their work and position in the industry or community.

Then point out how you do things “differently.” What makes you, your products and services unique or unusual. Slamming the competition only comes off as sour grapes and will never help you close a sale.

Fatal Mistake 6:
Failing to follow up.

If you say you will call back at 2 p.m. on Thursday, then do it, no matter what. People WILL remember when you DON’T keep your word. Always let your customer know when you will get back to them, and make sure that you do.

Also, consistently follow up all your marketing efforts. It’s proven that one-shot marketing rarely works. It’s also proven that it takes seven or more contacts to finalize many deals. Be patient, be persistent and be profitable.

“If I had to live my life again,
I’d make the same mistakes, only sooner.”

– Tallulah Bankhead

Fatal Mistake 7:
Failing to use your time wisely.

Know the difference between “pay time” and “no pay time.” “Pay time” is the time that you spend talking to or meeting with prospects and clients.

“No pay time” is when you stop at the car wash, eat lunch alone, fill out paperwork, or do anything else that does not contribute directly to the creation of income.

Beware of email and the Internet.

They are sneaky time wasters. How many times have you open a email and follow a link to a Website… the next thing you know, you’ve waste a half-hour that you can never ever get back.

Spend 100% of your time doing those things that lead you to making money. This will separate you from the pack and increase your year-end bottom line. Schedule a given amount of time every week to spend prospecting for new business. “ABC”—Always Be Prospecting. Always have prospects in your “pipeline.”

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Fatal Bonus Mistake 8:
Placing blame on everyone and everything but yourself.

Take a look in a mirror. Most of the shortfalls of selling start from the six inches between our ears. We must commit to working smart.

Many of us are afraid of failing and forget that we learn from failure as well as success. Blame ourselves, but don’t be afraid of failing. Everything is on the other side of FEAR.

How many of these selling mistakes are you making?
How will you correct them and prosper this year?

Posted in direct marketing, sales, Salesmanship, Selling | Leave a comment

Secret No. 8: How Many Eggs Are In Your Basket?

How Many Eggs Are In Your Basket?

It is much too risky for a wise business owner to rely on only one type of market­ing.

What would happen if it failed? A business owner could lose his or her shirt and be driven out of business!

Even a very successful single marketing campaign can have pitfalls.

If a business owner clings too tightly to a single campaign (no matter how successful), then s/he might never find out what other methods of promotion could prove to work as well—or even better—than the one upon whom s/he is relying.

It’s far safer and wiser to devote a portion of your precious resources (money and time) to each of several different marketing projects. Channeling your resources to various promotional efforts allows you to have multi­ple points of marketing “impact” at the same time.

If any one effort fails, the remaining projects can continue working to keep the flow of new prospects and ongoing business coming through your door.

“When an archer misses the mark
he turns and looks for the fault within himself.
Failure to hit the bulls­ eye is never the fault of the target.” ­

Gilbert Arland

Too many businesses use only one or maybe two ways to attract new clients.

How many times have you see this. A business first opens its doors, the owner will place a few mediocre advertisements in the local paper and then expect that they will generate a lot of traffic. This rarely is the result.

People don’t go out of their way to shop somewhere unfamiliar unless the business offers something so unique or valuable that it would succeed regardless of the marketing effort used.

Believe me, this doesn’t hap­pen very often!

Here’s what will work together to produce greatly increased profits for your business:

Four or five pro­grams designed to bring in new customers; six or more marketing efforts designed to sell to existing clients; and the use of “up­sell” and “back­end” product offerings.

The Seven Musts of marketing include personal contacts, direct mail, Internet marketing, company brochures, advertising, public relations, and the education of clients.

Don’t rely on just one single program.

Diversify and grow!

How many different ways is your business reaching its market?

Posted in advertising, direct marketing, Internet marketing, marketing, public relations | Leave a comment

Secret No. 7: Are You Paying Enough Attention To The Business World Around You?

Are You Paying Enough Attention To The Business World Around You?

Do you spend at least three hours per week reading magazines, newspapers, and Web sites that report on overall or “general” market trends? Observe what trends are starting in your geographic area, nationally, and worldwide.

Some recommended sources of valuable information with which you should become familiar are the New York Times Sunday Edition, the Wall Street Journal, Business Week, Time, Newsweek, and People, as well as all of your local newspapers and magazines.

Keep an eye out for trends that may affect your business. Things could change very fast, making what you sell obsolete or, on the other hand, needed more than ever.

Study the business trends that are happening outside of your industry for ideas that could be used in yours. Many ideas are transferable from one industry to another, and you may be able to find and implement an idea that is new to your industry.

“Basic research is what I am doing
when I don’t know what I am doing.” ­

Wernher von Braun

For example: the ballpoint pen was the basis for roll­on deodorant. Here’s another example: just after McDonald’s started expanding, one of their corporate executives was in his car, waiting to do his banking at a drive ­through window. The executive started thinking, “How could we use this at McDonald’s?” The result was the start of drive­through fast food.

Many advertising headlines are transferred from one industry to another.
Here is such a headline: “I’ll Teach You How To Quickly And Easily Get All The Credit You Ever Wanted.” It could be changed to the new headline “I’ll Show You How To Quickly And Easily Cut All The Steel Pipe You Need To Cut.”

The beauty of doing this research is that your com­petition won’t discover what you have learned or what your next marketing effort will be until it is too late for them. The information that you need to create unique marketing programs is out there waiting for you.

Where are you going to look for helpful ideas from other industries?

Posted in information, library, research, wall street journal | Leave a comment

Secret No. 26: Does Your Business Make The Same Amount Of Profit From Each Client?

The answer, obviously, is no.

Your customers are not created equal. Give or take a few percentage points, 80 percent of your sales will come from 20 percent of your customer base.

It is wise, therefore, to categorize your clients into five distinct categories. Use -5, or AE (or some other rating system that you develop), with 1 or A being your best and most profitable clients and 5 or E being the clients with whom you spend a great deal of your time but from whom you make very little profit.

” Twenty percent of the customers account
for 80 percent of the turnover; 20 percent of the components
account for 80 percent of the cost and so forth.”

Vilfredo Pareto,
Pareto’s Law

After you have categorized all of your customers, I suggest that you “fire” the ones that make up the bottom of the list. I know that this sounds like a bold thing to do, and maybe even a little bit crazy, but you will find that your business is more profitable in the end.

The easiest way to rid your business of the troublesome “low-end” clients is to raise your prices. Again, this sounds like a bold thing to do, but your better customers know that price isn’t everything.

Your business should have the service and value to back up your prices. A price increase should send your “low-end” customers to your competitors.

Believe it or not, you will benefit from this. These customers don’t care about the value that you offer and they take up a lot of your time.

These clients are not interested in anything but price. Let them go! Let them slow down your competitors and give them the headache of being busy for very little profit.

Meanwhile, you will be able to spend your valuable time working with the better customers on your list. You already know that most of your profits come from your best clients. Therefore, focus on keeping only the better clients.

Work to get all of them to the “number one” category by offering amazing value when they give you their business.

How many clients do you have in each category?

Posted in life time value, LTV, Pareto's Law, repeat customers | Leave a comment