(And How Much It May Be Costing You!)
Have you ever run a paid ad campaign of any kind? Think about how much doing so initially cost you. And you and I have to first recover our cost.
Before we can begin to determine if or how much profit was made, correct? Which is why it’s critical for you and I. To have a realistic idea of your/our true customer acquisition costs. Don’t you agree?
Enough With The Missed Opportunities!
Take notice of the featured image for this particular post. Strictly for hypothetical marketing illustration purposes only. There are six women featured in the photo, correct? Let’s say two of the six women are employees of this particular popular women’s clothing store.
And the other four are customers. And let’s further say all four customers. Came in because of a quarter or a half a page ad. In one of the most circulated local throwaway guides.
So it costs the owner(s) X per lead, correct? But they came alone. In order to generate more 1st time customers. Typically the business owners and or service providers will need to spend more money on the initial front end, correct?
And since it typically cost 500% more in front end advertising and promotional cost. To generate a 1st time customer. These type of ongoing costs.
Are what continuously eats into a small business owners or service providers overall gross profit margins. And why typically 20 or X% of them close their doors within their first year of operation.
Because 90-95% are solely dependent on earning a profit on the initial front end of their business and or service.
And they have no reliable back end revenue streams to help shoulder or relieve the financial burdens of running their business and or service.
(Be sure and checkout the featured video with this particular posts. Because the featured expert Candy Messer. Explains one of the most common credit card traps!
Far too many extremely hard working small business owners and service providers often fall into! Because they don’t fully understand the terms of certain types of credit card debt!)
Leverage Your Extremely Close Marketing Opportunities!
(BTW, before going any further ladies & gentlemen. Those of you who are not only regulars readers of my blog. Thank you! But your relevant video(s) could occasionally be featured in some of my relevant posts.)
As I was saying. Let’s say two of the four customers. Were drug by their friend. Who’s not only already a customer. But the customer is also one of the clothing stores opt in email subscribers.
And they got an extremely time sensitive email message. Ethically bribing/rewarding them for dragging friend with them who’s at least 18.
Entrepreneur each time that particular dynamic happens. You and or your major competitors just saved a bare bones minimum of seven to twenty touches!
Meaningful you didn’t have to run that many additional paid ads! In order to generate a paying customer. Those savings, or at least part of them! Can and definitely should be invested back into your business and or service, agreed?
Whether you primarily market online or off. There’s no law which says you can’t be or get creative and systematic about lowering your potentially expensive. Customer acquisition costs. Don’t you agree?
You Definitely Don’t Have To Be A Fortune 500 Company To Compound Your Marketing Efforts!
P.S. Now as is customary during this part of our show. Please share your extremely valuable comments (in the comments section below) that you can apply to your business, product or service in the next 30 days or less!
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Extremely important note: And if by chance, you happen to know any of the lesser known podcasters, (or radio show host) who also target small business owners, service providers or aspiring startups entrepreneurs etc.
And they’re pro-actively looking for potential guest speakers. Please don’t hesitate to-either- pass their name and contact information directly to me or vice versa! Thanks!
(While you’re at it. Be sure and schedule your free 30 minute brainstorming session now! It’s a $125 dollar value!)
(And be sure you head over to Spotify.com and setup your free account. This way you can listen to my podcast “The Marketing Minute” and leave me a greatly appreciated 5 star review. Provided you honestly feel it warrants it. Thanks!)
(Click the link just below, and watch the first video at the top of the page, if you’d like to see the entire 33 minute replay, of a guest podcast on marketing your small business or service. I Recently appeared on.)
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And help you master your effective communication in marketing skills.(No matter what your particular niche market is.) It’s a $97 dollar value and it’s FREE! Please note some links on this page are affiliate (income producing) links.
