21. Adding All Numbers Together

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Transcript

Right, by now you will have a better understanding about this winning marketing formula. And you will have seen by yourself in order to improve our business revenue apart just working on improving the number of customers coming into our business, there is also another two angle that you can work on. Number one is to improve the number of frequency every customer walk into our business, as well as improving the average spending every time our customers spend with us. So this is the overall marketing formula that I'm going to present to you. But you have not seen the actual magic yet. So what I want to do next is to add some numbers into this formula because formula without numbers is not a complete formulas right?

So I'm gonna show you if I add some numbers into this formula, and you can see the actual magic behind how this formula gonna change your marketing Strategy forever right zooming in a year's time, you have managed to generate 4000 leads using various marketing methods. Now, about 4000 people come across you every years, oh, this 4000 people, only 25% of them become your customer, meaning that your conversion rate is only 25%, a quarter of one 4000 people, meaning you will have 1000 customer every year. And this 1000 customer will come back to your business and what we view two times on average per year, and every time they will spend $1 with you, you will do the max, you will find that every year your business revenue is 200,000. All right, assuming right now you have understand new tactics and new strategy, how can you improve the inputs of this marketing formula and let's say You managed to improve a 10% on this marketing formula on the following year, next day or next year, all your inputs are able to improve by a just a 10% you will have a new number looks something like this, your 4000 people will improve to 4400 people 25% and improving by another 2.5% meaning 10% right now, you will have 27.5% you will use 4004 times 27.5% your new number of customer will become 1210 customers.

On average each of this customer will come back instead of two times. Now, on average they come back 2.2 times. And also on average the hundred dollar spending right now has also improved by a 10%. The average spending now becomes And then now, if you look at your revenue the actual output, you will be receiving this number $292,820 if you compare this new to nine to zero compared to the 200,000 before you will see a significant improve off four of these 6%. Just imagine if you are able to improve on the inputs are each of the inputs, you just need to improve a small time percent in by the end of day you will have a significant improvement. So, when you work on your marketing is not about working on the outputs is always working, how can we improve on the inputs?

So, over here there are total of four different types of inputs for you to work on. And just imagine every single one you can improve by a just small percent, you will have a significant improvement by the end. But what if, if you can do better than 10%? Let's assume hypothetically What if you can double up your effort What if you can double? Let's see the result. Let me just show you are very quick quick calculation.

What if that you can double up your effort from 4000 people become 8000 people from 25% conversion rate you you improve up to 50% conversion rate. Now, every year you will have 4000 new customers imagine this and this 4000 customer on average come back four times a year to do business review. And imagine that they have also doubled up their spending review from hundred dollar to $200. And if you do the maps you will be huge surprise the output dead Is 3.2 millions? Can you just imagine if you able to double up the effort of your inputs, your output will be tremendous. Imagine that 200,000 compared to 3.2 million, is that 16 times more.

So this is a really powerful way for you to work on your marketing every single input count. So go and spend some quality time and look into what kind of marketing strategy or input strategy you can apply, which I've already show you 100 of them. All right, so just do a very quick recap, the number of customer is equal to leads times conversion percentage, and the number of revenue is equal to customer times repeat all the time average spending. So over a hill over here, we have four different inputs. But I just want you to keep a little bit focus in terms of this four different strategy, income considering your resources, meaning that the money that you have the time and how easy to do, which of these four are you going to spend your time or resources doing it? I have already show you this is the the the kill compound, I have done it for you.

You have total a 101 a marketing strategy. I'm going to show you this. Later. In the bonus section. I'm going to record a separate video on the bonus section. And you can download this piece of material later.

But imagine this right now you have 100 strategy on your head, which which of this 100 strategy you will pick to use. So let me give you a better idea. How can you pick and choose the right strategy to implement into your marketing system? Okay, number one, start with average spending, every spending is I will consider the most easy, less costly, less time consuming thing to do, because if you just imagine how difficult for you, if you just pick three of your products and bundle them together, how difficult is that that if you get a product that you can just upsell a more expensive product or you just buy on something to the to your product. So, it is very easy for you to start auto apply on average spending, do this well, this is a four step strategy, you must look into it first. The second easy to do is conversion, because right now, every single leads that you have acquire, you have to convert this leads into customer.

So the higher the conversion you have, the better is then only you will on repeat order Repeat order is something we will take take out some some some form of investment and also some of your time because in order for you to launch a membership card or do a membership program or VIP program or this thing requires some extra effort and resources from you, so, it will be easy to take off, but it will require some planning and resources to work on. And lastly, only you will on lead generation because don't get it wrong because a lot of people will start to work on lead generation which I don't suggest because lead generation is something which require high investment number one, number two, if you have a poor conversion rating, no matter how many leads you generate. You can suss if you can successfully convert them into a customer, your lead generation effort will be in vain.

So work on this sequence. Start with the average Then conversion repeat order. And lastly only work on your lead generation. Right, I'm going to include this winning marketing framework at the download section, you can just go ahead and download this complete section and work on your own numbers. And before before you begin with working with your, the new idea or the new subject and you're going to apply, I want you to first work on your current number. Do you know every week how many new leads that you have generated?

How many of them converted into customer, on average? How many times your customer come back and do business with you? And on average, how much do they spend with you? So before you work on the new strategy, I want you to spend some time Look at your current number. And your aim is pretty simple. Your aim is just to improve 10% of of the image Put just 10% each just work on this.

So this two piece of framework is going to be available at the download section. I hope you download and if you have any questions do leave it at the comment section. I will answer as best as I could. And lastly, just before we end this session, I'm just like to give you a reminder, marketing is doing many activities to get more new and repetitive customer. So I have completed this session and I hope that you have learned something useful. See you in the next section.

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