Greetings and Welcome!
Over the next 21 days I will be providing you with empowering, insightful, useful and valuable content. Stay tuned as I disclose marketing secrets and tactics usually only reserved for large and powerful companies.
All of the information I provide you with is battle tested. It flat out works.
As we move through the 21 days I will be revealing and explaining tactics that will catapult your marketing and revenue.
I have personally used these tactics but not as much as I should have recently. That is all changing as the timing for using these proven tactics could not be better.
So that being said let’s move on to the first of twenty one inspiring emails.
Before we can start you need to know where you are. In order to do that you need to have a few things in order.
First you need to determine the lifetime value of your customer, client or patient. This could be the most profitable thing you will ever do for your business. You need to know what the marginal net worth (lifetime value of a customer) is so you can determine what you can invest (not spend) to get more customers, clients or patients.
In simple terms the MNW is the total aggregate profit of an average customer, client or patient over the lifetime of his or her patronage (including all residual sales) less all advertising, marketing and fulfillment expense.
Here is a simple example:
A new customer brings you $125 profit on the first sale.
He or she repurchases three times a year with an average reorder of $250 and you make the same $125 in gross profit. If that customer stays with you for 3 years he or she is worth
Profit from 1st sale = $125
Profit from 1st year 3 sales = $375
Profit from 2nd year 3 sales = $375
Profit from 3rd year 3 sales + $375
Marginal Net Worth = $1,250
Once you know and understand this you can then work the numbers backwards. This works the same whether you make just one sale one time or twenty sales over three years.
You will need this info moving forward.
Without knowing the numbers moving forward will be difficult. If you don’t know these numbers you won’t know what you can afford to invest, as opposed to “spending.” You need to change your mind set as you are not spending a penny but rather investing (investing produces an ROI). The reason is you know the end result and the ROI based on the MNW number.
Have this number ready for the next email.
