Highly Effective Marketing Secret!©
No one with even a modicum of entrepreneurial experience, who has also a least once reached any serious level of business achievement, would in any way attempt to discredit or argue the following statement;
There are many secrets of success!
In other words, to some degree, the chosen address of this site was one that was more of convenience - in terms of what was available to register - than any great revelation.
However, more so than all the other little known facts that dramatically effect success, the one concept that most people in business are either unaware of or simply don't understand is;
The true value of their existing clients/customers/patients.
To really hammer home this point - literally burning it into your brain cells so you never forget - we've both published this web site and many supporting web pages, now numbering over a hundred in total and still growing. And, in addition, we also designed a significant software program, which cost more than a million dollars to create, that is how serious we are about this particular issue!
Of course, you need to understand the importance of this education prior to sharing similar kinds of exciting expectations that are brought on by this profound knowledge. Therefore, an explanation and more are in order.
For the purposes of accomplishing just that - a basic comprehension - let's begin by shortening "those who have spent money with a business" or clients/patients/customers to just one word; Customers. Then, let us further agree that PROSPECTS must also be part of the under utilized asset of any business, not that they hold as much potential or are quite as valuable as customers but they too are more valuable than most business owners realize.
This is a serious discussion, one that may make more impact on your business future than almost any other information you ever encounter, at least in terms of third party, informal education. And it is in the visualization of this extra value that Customers and Prospective Customers (or Prospects for short) hold for businesses that is the difference to any one owner between eating hamburger or steak for lunch!
A simple explanation would be to start by saying that it is cheaper to market or sell to people who already know, like and trust a business than it is to advertise to get new customers but that is known by many business people. Whereas there are still many more that never even mail their existing customers too. But the difference is in understanding that your customers and prospects buy from other businesses, and that it is the area where business least benefits from.
To emphasis this fact, assume it costs an average of $12 to generate a new prospective customer (prospects). Further assuming that one in 7 prospects are converted to customers - in other words; become buyers. That would mean the average cost of acquisition of each new customer is $84 each. If that was all that customer was worth to you and this was your business, which earned a mere $79 net profit per sale ... would you end up saying to anyone willing to listen to you cry about your spilt milk that; "Advertising doesn't work!"
Granted, this is a very simplistic example but, carrying it through, we are studying a business that in the eyes of the business owner has no repeat or ongoing sale potential with customers (and this 'secret' is just as effective in a business that does). And the key person in charge of advertising, which is almost always the owner, believes they discovered, at least initially, that advertising fails to earn a profit. Is this the end of the story?
At this stage, perhaps the best thing to do is relate a real life story. Edison, the now famous inventor, who was well known in his day for attempting to create what is now known as the light bulb, had failed hundreds of times. A reported asked him how he felt about his failure. To this he related word to the affect of "I am not a failure, I have just successfully figured out what does not work. And that puts me closer to figuring out what does!" If there was a way to earn money from old clients again, even though this fictitious business has no repeat ordering, then it might be possible that this advertising model was not a failure.
Imagine what would have happened if Edison was discouraged and ended up quitting instead of having the attitude that he did? The modern day light bulb may not have been invented!
And, it is from within this Edison-like plodding-on-attitude that this simple business concept was first discovered. One that explains "How to generate the real profit of any Business-to-Consumer business." And the premise of this great secret is;
Customers are worth far more than you think they are!
Remembering that the use of the word CUSTOMERS above, is for simplicity, it refers to current and future customers, which naturally includes prospects too.
If you would like to learn more about this concept, you can sign up for a free educational system, without any strings attached. Simply complete the form below and we will begin to bring you up to speed on how a healthy and extremely profitable business can be run. One that generates far more profit than you ever dreamed possible!
And, have no fear, your personal information will never be shared, sold or abused in any way.
|
|
