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A Couple Of Killer Internet Marketing Techniques
There are many simple, infallible ways to earn income, and one of the surest ways is through marketing your business on the internet. When you learn basic internet marketing techniques, you'll wonder why you haven't already jumped on the bandwagon....
FIRST: The Key to Successful Sales
GREAT sales professionals know questions can be used in increase the value of their solution, eliminate the competition, and increase the prospect’s urgency to move quickly. This article presents a model for asking effective sales questions.
In...
HOW TO GUIDE: AFFILIATE MARKETING FOR PROFIT
This FREE information is very valuable to your online success. For further training please subscribe to my training course for a more in depth way of marketing your site by sending a blank email to: elindabay@getresponse.com. or sign up at to my...
Invest Nothing - Get Nothing
People ask me all the time why I write articles. They ask me questions like:
What makes you such an expert?
Where do you learn this Internet marketing stuff?
How long have you been doing this "Internet marketing thing"?
How much money have...
Short Sale Success Secrets With Foreclosures
If you’re active in real estate investing, you may already realize one of the biggest issues real estate investors face: Finding Great Deals. FORECLOSURES AT A 52-YEAR HIGH With foreclosures at a 52-year high, there are thousands of deals...
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How to Multiply Business Sales by Up to 9 Times in Just One Week--Define the Customer Value
Do you know how much a customer is worth to you? If you don't
you should. It results in one of the biggest breakthroughs my
clients have.
Once you know what an average customer is worth, one of the
first things you'll notice is that there is likely more than one
type of customer coming to you.
We reviewed the average value of a customer for one of my
clients, discovered that there were at least 3 different types
of customers, each buying a significantly different average
amount, some were buying only one time, and others were becoming
repeat customers. Now we could clearly define who these people
were, how to find them, and decided that some were not worth our
time, others were our ideal target.
One of my customers, a construction franchise, had only done
$60K of business his first year. It went to $500K the next just
by finding the right customer based on customer worth.
When we started looking at what his customers were worth to him,
the first figure was $1,500, an average of all customers. Then
we saw that there were groups of different customers, some
buying less than $1,000, some buying $1,000-$3,000 and some
buying well over $3,000.
The ones buying under $1,000 were the hardest to deal with and
had the lowest profit margin. The ones over $3,000 were coming
back over and over, had the best profit margin, and referring
lots of other customers. Their total lifetime worth was
approaching $10,000.
This company had defined their customers according to the
national franchisor's suggestion, targeting a homeowner with
total family income averaging $50,000. But the customers buying
the most from them lived in a neighborhood where the average
income was over $75,000. So, I suggested that they send
their
next mail only to those targets.
Another thing we saw was that the people buying less than $1,000
were the $50,000 average income neighborhoods. The $3,000
customers were from $75,000 neighborhoods, and the higher the
income the more they bought, the more they came back, and they
made more referrals.
They stopped mailing low income zip codes; these also had a very
low response to their previous mail. They started targeting only
higher income zip codes, and only to the $75,000 and up families.
The result: the immediate response was a 9 times increase in
revenue on the very next mailing. The mail response rate went up
4.5 times, so they had 4.5 times more leads for the same dollars
spent only a week before. And, those customers were buying more
than twice as much. The total was 9 times more sales in just a
week for a small change.
I've seen this happen over and over as a company starts to
define how much a customer is worth to them.
So, define your average customer worth. Then track the actual
results and see if there isn't something you might learn from
being able to segment your customers by their worth to you,
total dollars on one purchase, total lifetime dollars, number of
purchases, etc.
About the author:
Alan Boyer, CEO of The Leader's Perspective, LLC is one of the
world's leading sales trainers & breakthrough specialists.
With over 35 years of business experience, he has catapulted
businesses lightyears ahead in weeks. Some double, some jump 10
times.
He helps companies worldwide reach further than they EVER
thought possible....FASTER
http://www.leaders-perspective.com/Sales-Training.aspx
mailto:AlanBoyer@leaders-perspective.com
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