3 Ways Profit Optimization Can Turbo-Charge
Your Sales Growth

Side Effect #2 - Reduce Client Acquisition Cost

By going through the optimization, systemization process you can reduce your customer acquisition cost, sometimes dramatically.

In coaching hundreds of companies, only a handful knew clearly what their cost per acquisition was…that is, the over marketing spend to obtain X number of customers.

Why is this so important? Because, it enables you to significantly reduce your marketing spend, or better yet, reallocate it towards lower cost alternatives.

Should you increase or decrease your Pay Per Click budget or pay to get higher in the rankings…or drop back into a lower position? Is SEO really paying off? How about your trade show spend…or your display advertising? Or what about the sales rep you hired? All of these will result in different costs to get a customer.

REAL WORLD EXAMPLE:

Dr D (name protected to avoid embarrassment for making the same mistake 98% of businesses make) had 7-8 different channels for getting new patients. Two of them accounted for 80% of these patients.

Dr D did not know what the cost per patient acquisition was for any of his lead generation channels, including the top two. We assisted him in calculating this cost and here are the results:

Lead Generation Method #1 - Involved a specially designed display ad that they ran in the local paper once a month… it seemed quite expensive to him.

Lead Generation Method #2 - He had used this “successfully” for years. However, he had noticed a drop of in activity as of late. It was a tried and true medium and he spent nearly 50% of their marketing budget there.

The Painful Realization

Well, the results were in after evaluating the previous three months of advertising spend and new patient that were generated from each. The result. Lead Generation Method #1 was costing about $128 a patient…not bad.

Lead Generation Method #2 was costing……. A whopping $1,100 a patient or 700% more!

Here’s the really cool part

The following month they simply stopped using lead generation method #2, pocketed some of the savings, and reallocated the rest into running the newspaper display ad twice, and sprinkling the same ad in a few outlying community papers.

The cost per patient acquisition went down below $100 the following month!

Stay Tuned for Profit Optimization Side Effect 3.

Profit Optimization - The Boring Way To Riches

ACTION YOU CAN TAKE NOW

1) Optimize your current customer profits and prospect conversion rates

2) Reinvest your “added profits” into you new customer generation efforts and play with the house money and prosper

AND…

Small Business Growth Club Member Access

Members: Click here to get instant access the Profit Optimization Workshops.

Non-Members

Visit us at www.SmallBusinessGrowthClub.com and take the tour.

It was a 90 minute jam session on personal productivity.  Something EVERY business owner can improve.

Here are some keys from the interview that you can put to use right away:

Tip 1 - Set aside 15,000 seconds a week in what Alex calls “Critical Thinking” time. – this is time you put everything aside and just think and focus on something for 50 minutes at a time. The breakthroughs that can happen in this “idle time” can transform your productivity by breaking the rat race cycle we all seem to get caught up in these days.

Alex suggests you actually use a visual and audible timer that you agree to follow.

During these sessions with yourself, capture your Big Ideas in real time.

Tip 2 - Manage your team’s time, don’t let them manage your time.

* Have them define the problem in writing – this makes them really think versus dumping the problem on you.

* Have them provide the solutions to the problem

* Have them evaluate why the problem exists

* What is the first physical action they can take to resolve the problem

Tip 3 - Schedule set times to meet with your team members individually. – this forces them to save up the discussion items vs. constantly interrupting you and destroying your own productivity.

Simple Solutions that have helped Alex turn his previous annual income into an hourly income, 16 times!
 
Scott

www.smallbusinessgrowthclub.com members – get instant access if you missed the live interview

Leveraging Profit Optimization In Order to Turbo-Charge Your Sales Growth

At the recent StomperNetLive8 event in Atlanta, I conducted a 90 minute workshop for the 600 attendees… from around the world. The audience survey results, over $32 Million in added profit by optimizing their current customer and prospect profits…without spending any money!!! (check out this 1 minute video)

Now $32M should be reason enough to want to focus on optimizing profits (95% of the attendees said they uncovered at least $10,000!). Yet, most businesses choose to want to focus on getting more customers… even though most have way more upside from optimizing their current business.

Therefore, I thought I would share the “Dynamic Duo” of Profit Optimization (actually it is a trio but we will cover that in another posting).

3 Ways Profit Optimization Can Turbo-Charge
Your Sales Growth

Side Effect #1 - Increased Sales Conversion

By focusing on optimizing your profits, we get you to focus on optimizing your sales conversion rate.

If you have not broke down the steps in your sales process recently, simply doing so, and looking for ways to make improvements (to even one element) can provide instant increases in revenue without spending a dime extra.

This is a very common mistake. Companies have a sales conversion process, whether this involves sales reps, direct mail or an online process, and they fail to continually revisit it to “one-up” the results.

REAL WORLD EXAMPLE:

Take Swindell and Associates, a consumer legal firm that gets leads from TV and Internet Marketing. They identified 13 steps in their sales process and made small changes to several of these over about 4 months. The results? They increased revenues by over 20% (using the Success Driver System we teach).

The process is easy. Simply select ONE success driver (step in the process) and do some testing…then move onto the next (we teach how to take this to a whole new level…but this will get you started and lead to measureable results).

Don’t take this lightly. When I was interviewed by Eben Pagan at his Altitude event, I talked about A’B testing…we surveyed the audience and identified those that A/B test DAILY… 6 out of 200. All six had online revenues of $3.5M and above…with the top being $50M. Remember, success leaves clues.

Stay Tuned for Profit Optimization Side Effects 2, and 3.

Profit Optimization - The Boring Way To Riches

ACTION YOU CAN TAKE NOW

1) Optimize your current customer profits and prospect conversion rates

2) Reinvest your “added profits” into you new customer generation efforts and play with the house money and prosper

AND…

Small Business Growth Club Member Access

Members: Click here to get instant access the Profit Optimization Workshops.

Non-Members

Visit us at www.SmallBusinessGrowthClub.com and take the tour.