(To Your Small Business And Or Service!)
For sure, most resourced challenged small business owners, entrepreneurs,and or service providers, know and understand, on some level, they have to be at least semi competent, at some form of strategic lead generation, right?
They know and understand, or they quickly will discover this undeniable fact.
If they aren’t at least semi effective, at some form of proven lead generating,they will constantly be spending retail rates, in order to get in front of their semi qualified target audience,right?
Good, it’s great we agree on at least this much.
Sadly, most extremely talented start up entrepreneurs, initially think, all they have to do, is be extremely brilliant, and or on the cutting edge of something, and a stampede of semi qualified prospects, will beat their door down.(If only it were true.)
However, once they enter the real-rough and tumble world- of commerce, (on or offline), and leave the ivory tower theory behind, a harsh reality check, soon starts to emerge.
And they finally come to grips with the cold hard facts of business life! Which is, you’ve got to be and or quickly become, an effective marketer, or you’ll be left in the dust, by your major competitors, who are! Would you not agree?
So along with this startling realization, quickly comes another one, which is, in order to truly maximize your long term profit potential, -entrepreneur-, you simply have to know and understand, what a semi to fully qualified lead, is ultimately worth to your business and or service.Or else you’re potentially leaving a ton of money on the table!
So What’s The Real Reason Your Resourced Challenged Small Business And Or Service Definitely Needs To know What The Real Long Term Value Of A Semi Qualified Lead Is Truly Worth To Your Business?
Case in point; thank goodness, there is a certain percentage of extremely savvy entrepreneurs,(such as yourself!), who know and understand, no matter how they primarily market and or promote, their extremely valuable products and or services, they definitely need to comprehend, (even on the most basic level), what their ideal customer, patient and or client’s total lifetime customer value metrics are.
Because by doing so, they (or you), now have a much better and far more realistic since,of what they can actually afford to invest, in order to initially generate, their all important, first time customer, and or what to invest, in order to ethically bribe, old in active, ex customers, clients and or patients, to become active again!
And or how much they can safely afford to invest, in order to consistently generate some long term, bank account filling referrals etc.
Savvy Entrepreneurs Make It A Top Priority To Know The Real Overall Value Of A Potential Qualified Lead Is Truly Worth To Their Bottom Line!
Case in point, one of my affiliate partners, why this would be, none other, then social media content marketing experts, promorepublic.com.
One of their promo, (how to) type videos is featured in this post.
And (as of last count), at least 6,000 (can you believe that!), social media content builder and posting tools.With 6,000 ready made templates to choose from, ( and constantly growing), in order to further customize them, to meet your current and ever changing needs!
But here’s the real point.Since they currently offer, at least three alternative, (referral fee based) compensation plans for you and I to choose from.Your sure to find one, which best suits your current or anticipated future needs.
Your Well Developed Entrepreneurial Skills Can And Most Definitely Will Continually Pad Your Bank Account In More Ways Than One!
For ex, currently one of promorepublics most popular referral payment compensation plans, offers 30%, lifetime/ongoing continuity payments, for as long as a customer you originally referred to them, remains an active customer.
And get this,under this specific plan, they will gladly pay you (and I), $50 dollars, on the first sale only, irregardless of how much their referred customer(s), actually paid to become, hopefully, a long term repeat customer.Huh?
Let me (at least) attempt to partially explain,because you’re probably, at least partially, to totally confused,
and or flat out skeptical of the last paragraph,correct?
Remember: They currently have three, extremely flexible, affiliate based compensations plans, and the following explanation, pertains to one of those specific payment plans only.
So let’s say you decide to become one of their registered affiliates, like yours truly has.
Because you have the complete flexibility, to change your affiliate compensation plans, should you desire and or need to.
Anyway, let’s say you refer a potential first time customer to them, who decides to join at their-low entry- $20 dollars a month plan. Promoreplublic still pays you and I, a one time, (front end only) affiliate commission of $50 dollars. Say what?
Savvy Entrepreneurs Definitely Understand The Real Long Term Potential Of Developing Bankable Lead Generation Skills!
Obviously, these people haven’t completely lost their collective, entrepreneurial minds, correct?
But simply by knowing and understanding, their ideal customers, total lifetime customer value metrics, they realize, by fairly compensating their affiliates, with more than reasonable compensation on the initial front end of their market tested sales funnel.
The odds dramatically increase, for at least two more things consistently happening.
1.) Likely probability # one: Their top two-ten percent, of their most successful affiliates, who choose the 30% lifetime affiliate commission payment option.Will continuously go out of their way, to constantly send them quality paying customers.On some level or another.
So the affiliate can earn their one time $50 dollar front end payment, irregardless, of how much the customer pays, for their very first month of service!
2.) Likely probability # two: Promorepublic, knows and understands all too well.Their ongoing, initial customer acquisition costs, and long term, repeat customer retention percentages, are merely a function of their overall numbers, correct?
Meaning, they already have built into their long term marketing -customer acquisition equation-, the vast majority of their registered affiliates, (roughly a staggering 98%), will do little or nothing meaningful!
Don’t Let Your Small Business Label Define Your Companies Long Term Potential!
And at least 40- 60% of their first time customers, who get referred to them, via their affiliates, will probably not stick around for longer than six months!
But it’s still dramatically less expensive, to pay their affiliates, under their 30% lifetime commissions, affiliate payment plan, a one time $50 dollar, front end payment only, to help them identify a potential, long term repeat customer! Make sense? I sincerely hope so!
That’s why you may just wanna check out promorepublic for yourself! And see exactly what they have to offer!And it’s also ‘why’, extremely savvy small business owners,and or entrepreneurs, definitely need to really know, what a potentially qualified lead, is truly worth to their businesses bottom line! Don’t you agree?
P.S.Now as is customary during this part of our show.
Please share your extremely valuable comments (in the comments section below)
that you can apply to your business, product or service in the next 30 days or less!
As always, if you got any value out of this post, please Google Plus or tweet this.Thanks!
And be sure you grab your explosive free 22 step small business marketing idea kit series,
because it will help you increase your profits by as much as 25% in the next 90 days or less.
And help you master your effective communication in marketing skills.
(No matter what your particular niche market is.)It’s a $97 dollar value and it’s free!
Hi Mark,
It’s really so important to know the “long time” or lifetime value (LTV) or your prospect.
It you can put a dollar amount to it, like $50 or $300 or whatever… then you know how much you can spend in bringing them into your business.
Facebook ads, solo ads or whatever… costs money.
So you need to know how much you can expect in return, then you know how much to invest.
Even your time is worth something. So if you’re pitching via free methods like a Twitter strategy… that’s a lot of your time.
Is it worth it?
That depends on what the LTV or your prospect is.
It depends on what your prospect if really worth, as you say.
-Donna
Donna Merrill recently posted…Importance of Taking Action in Sales When a Lead Shows Interest
Excellent points Donna
And as you wisely pointed out, if you are going
to go hog wild, down the free marketing strategies approach.
Be mindful, of what you’r time is truly worth vs, your potential
pay off, once or if, you generate any paying customers and or client etc.
Sadly, we’re both well aware, how many aspiring marketers, on or offline,
simply have no realistic idea whatsoever, what their number are, and or how to
accurately calculate them!LOL!
Thanks for taking the time to stop by and share your real world
feedback Coach! i always look forward to it, and greatly appreciate it!
Mark Newsome recently posted…Since Your Small Business Can Generate Marketing Leverage Why Pay For Advertising? Part Three
First off, your point about knowing the value of a lead is so right on! In business – traditional or entrepreneurial – it always comes down to ROI doesn’t it? I’m not too proud to admit I had to read your review of this affiliate program a couple of times to understand how it works, but I think I get it and it does make sense. I’m not an affiliate marketer but I enjoy learning so I’m going to take a closer look – never know what the future will bring! 🙂
Marquita Herald recently posted…How to Have Conversations That Matter
Your thinking is so spot on M!LOL!
Because as you so wisely pointed out, simply by
gaining a much deeper and practical understanding of how
something or situation really works, it opens the doors to
other potential opportunities.
Some of which, without your newly gained knowledge and understanding, you
simply can’t fully benefit from!LOL!
Always glad to see you and benefit from your extremely helpful
insights M!Thanks!
Mark Newsome recently posted…How Some Of Your Best Marketing Strategies Initially Start Out As Inexpensive Test!