Stop Wasting Your Resources

Are you tired of wasting your precious resources on "blitz marketing"? It's time to focus your efforts and get strategic about finding your target market of potential customers.

Here are two questions to ask yourself:

1. What do people really want to buy from me?
2. What related products are they already buying?

Once you figure this out, you'll know who is more likely to purchase your products or services. The next step is to find other businesses with the same customer base and "customer share" with them. What does that mean? It's all about striking up a relationship with other business owners to work out an incentive for customers to purchase from both of your stores. This way, you have an audience to market to, and they generate added value from their current base.

But how do you figure out how much you need to spend to attract a new customer? There's a formula from Jay Abraham that can help:

LV = (P x F) x N – MC

LV is the lifetime value of a customer, P is the average profit margin from each sale, F is the number of times a customer buys each year, N is the number of years customers stay with you, and MC is the marketing cost per customer (total costs/number of customers).

Once you know this, you'll know how much of an incentive you can offer to a business to help attract new customers.

Here's your step-by-step process:

1. Find companies who already have the customer base you are looking for.
2. Negotiate an incentive for them to share that customer base with you.
3. Focus your marketing resources on this group of predisposed customers.

By using this process, you'll not only save time and resources but also improve the effectiveness of your marketing efforts. Instead of trying to reach everyone, you'll be targeting a specific group of customers who are more likely to buy from you.

This approach will not only increase your sales but also help you build lasting relationships with other businesses in your industry. Collaborating with other businesses can lead to new opportunities, partnerships, and even referrals. So, don't hesitate to reach out and start building those connections. With a little bit of effort and the right mindset, you can achieve success and grow your business beyond your wildest dreams.

If you need help working through this process, don't hesitate to reach out. I'm here to help you grow your business and expand your creativity so that you can be efficient and profitable. Let's work together to make your dreams a reality!