How to Slash Your Marketing Spend and Increase Results Without Spending More Money [Part two]

3 Ways Profit Maximization Can Turbo-Charge Your Sales Growth

Marketing Spend Slasher #2 – Reduce Client Acquisition Cost

In coaching hundreds of companies, only a handful knew clearly what their cost per customer acquisition was…that is, the total marketing spend divided by the number of customers.

Why is this so important? Because, it enables you to significantly reduce your marketing spend, by first reallocating 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 tradeshow spend or
  • 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:

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More “MC’s” Equal More Sales Automatically!

Although getting more prospects interested in your products or services (a Lead) is critically important for more sales, the effectiveness of your communications, AFTER you receive the Lead, is equally important.

Examples of a “Meaningful Communication” include getting the interested prospect to:

  • Speak with you
  • Read your sales letter
  • Watch your video
  • Come into your store
  • Dive into your product page online

If a prospect needs to learn more BEFORE they will buy, then failing to engage them in some form of a Meaningful Communication will result in losing them before you ever get a chance to move them through the rest of your sales funnel… and ultimately to a new customer.

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Marketing Success Secret

What I am about to reveal to you is something many businesses don’t employ. I call it “Leveraging Your Success™”. Leveraging Your Success™ is all about identifying what you do well, making sure it is done consistently and improving upon it for even greater success.

If you have a sales force, think about your top sales person. Have you carefully reviewed why he or she is successful? Have you in turn shared his knowledge and approaches with other sales people so that they can one-up their sales performance?

What about a successful headline you have used through one advertising vehicle, such an offline print advertising? Have you used that headline in other places to gain added success and more profits for your business?

Here are some key steps to Leverage Your Success™:

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6 Simple Ways to Turn More Leads Into Customers

You’ve invested in one or more lead generation approaches to fill your sales pipeline and turn those leads into customers. Have you considered what you can do better to obtain more customers without spending additional money? Even a small percent improvement can yield significant returns lowering your overall cost of customer acquisition.

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