The Main Reason Your Small Business Has To Know What A Lead Is Really Worth!Part Two
As you previously discovered in part one, of this ongoing series, practically every successful, small business owner, service provider and or start up entrepreneur you know, is usually pretty savvy, at some form of effective lead generating, advertising, promoting and or marketing,correct?
And on top of this, they definitely understand and totally appreciate, why both they and you, simply have to know going in,what their ideal customer,patient and or clients, total lifetime customer value metric numbers are, correct?
Otherwise, as their attempting, to seriously evaluate, whether or not, or where they should allocate, more or less, of their extremely limited, financial resources, they may more easily be misled, right?
Sadly, this all too common occurrence, happens far more than it should or needs to. By better understanding, and knowing how, to at least ball park the aforementioned concept, you can at least avoid some major pitfalls, which are -always- just around the corner and waiting to happen to those less informed. Don’t you agree?
So Why All Of This Fuss About Your Resourced Challenged Small Business Knowing And Understanding What A Semi Qualified Lead Is Truly Worth To Your Business?
As you recall from part one, (I shared with you), in full disclosure, I’m currently, a registered affiliate, for the social media marketing experts, get.promorepublic.com-s, lifetime, 30% paid commissions program.
And you also discovered, because get.promorepublic.com, totally understands, and has already calculated, measured, tested and tracked their ideal customers, total lifetime customer value metrics.
They’ve made the calculated -risk- based decision, to enthusiastically pay their registered affiliates, who are part of their 30% lifetime commissions, payment plan only, (a one time), front end referral fee commission, of $50 dollars.
Even if their first time customer, were to initially join, at the lower end of their paid services, at just $20 dollars per month. Say what? Exactly.
Extremely Successful Entrepreneurs Know Their Real Costs Of Doing And Sustaining Their Business! (And You Definitely Should Too!)
They’ve run their numbers, and their math reveals to them, of the first time paying customers, who ultimately stick around, for x amount of months or longer, a certain percentage of them, will inevitably upgrade, to some of their other, far more expensive and customized services.Bingo.
So they’ll gladly pay their registered affiliates, a one time front end only paid affiliate fee of $50 dollars, (or X), in order to remove, and or lower their first time customer acquisition cost.
Makes sense right? So going forward the next you see, one of the seven or eight figure earning a year gurus and or guruettes, promoting some front end,(digitally based) affiliate commission type of program, where they offer you (or I), some low cost front end product/service, of $27-$47 dollars.
And and allow us to keep -anywhere- from 80-100% of the -first time-, front end sale only. Rest assured, they haven’t lost their collective marketing minds!
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Instead, they’ve already internally run, tested, tracked and monitored, very closely, their ideal customers, total lifetime customer value metrics.And they already know and realize, the long term profit, they will inevitably gross on the custom designed back end of their, extremely well run sales funnel, makes it all, totally worth their while.
As You Continuously Develop And Honed Your Lead Generation Skills You’ll Open Doors You Didn’t Eve Previously Realize Existed!
Switching gears, (hopefully now), you are in a much better position, to appreciate, a familiar offline marketing example.
In which, an extremely marketing savvy jeweler, who currently targets, local women who routinely earn, high five and six figure a year incomes.And who routinely socialize with, other extremely influential ladies, who do as well!
Primarily, because these extremely influential, local females, represent their ideal clientele, because their total lifetime customer value metrics, are somewhere in the neighborhood of, $10,000 – $15,000 dollars, over the next five to seven years.
This being the case, it only makes sense, for the extremely marketing savvy jeweler, to form some type of mutually beneficial, strategic alliance, (aka) joint venture (JV) arrangement, where they all, ultimately benefit and prosper.
So the jeweler approaches, two other, non directly competing vendors. One being, a local, upscale hair salon owner, and a local, non franchised, retail appliance center owner.
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So initially, here’s what the extremely marketing savvy jeweler does, to help the hair salon owners, positive word of mouth and mouse, lead generating efforts, go viral! And then some.
Around ‘Thanksgiving’ and or any major, and or highly recognized holiday for that matter. The first 200 -400 ladies, (not all in one day mind you!)
Who enter their favorite hair dresses shop. They will be given, specially marketed, mini envelopes, and on the outside of them, the words ‘Happy Thanksgiving’ or ‘Happy Mothers’ or Happy Valentines Day” etc. will be written on it.
Inside the envelopes, these 200-400 extremely lucky and highly influential- local ladies, wild find two extremely valuable, albeit time sensitive, discount coupons and or gift certificates.
One for a $25 dollar, gift certificate, to a local supermarket, so they buy -either- their turkey,ham and or roast, or whatever.
Who Says Your Crafty Small Business Can’t Eventually Equal Some Big Time Profits?
And the other one, which is one of the jewelers, best market tested, two sided index cards. Side (A.) invites these ladies, to enter the jewelers, free monthly drawing, for their chance, to win a stunning, $3,500 dollar, diamond studded necklace!
Side (B.)not only invites these ladies to your store before a certain date. But simply for doing so, provided they bring a friend, whose at least 18, they get a free, 16 oz. bottle, of their women-s boutique store, JV partners, best selling fragrances for free!
When typically, this bottle normally retails for $79 dollars! But here’s the real marketing twist! Are you sitting down? In reality, even though the extremely marketing savvy jeweler, enthusiastically invested, a grand total of , just over $10,000 dollars!
(When you factor in the hard cost of the mini envelopes, and the print on the outside of them. (400 x $25 dollar gift certificates= a bare bones minimum investment of at $10,000 dollars.)
In reality, the jeweler, co-brokered their hard cost, to their other, non directly competing JV partner, the local retail appliance center owner.
Do You Still Honestly Think Taking The Time Necessary To Develop Some Really Effective Lead Generation Skills Is A Complete Waste Of Time!
And since the appliance dealer, normally pays, anywhere from a low of $175 – $450 dollars per semi qualified lead!They leaped at the chance to piggyback, one of their very best, market tested offers, inside the jewelers envelop, at just $50 -$100 dollars each!
So in other words, the jeweler leveraged the retail appliance dealers, normal, minimum cost per lead, of $175 dollars! (Or X.)And instead, saved them at least $75 $125 dollars per semi qualified lead.
( Extremely Important note: You really think the retail appliance dealer won’t go viral with their extremely good fortune! And thus, potentially send even more, responsive, potential JV partners, in the jewelers direction!)
So the extremely marketing savvy appliance dealer, enthusiastically invested, a bare bones minimum of $20,000 dollars, in order to get direct access, to 400, extremely influential, local ladies, who routinely earn, high five and six figure a year incomes! Makes perfect sense, right? Absolutely!
(400 semi targeted prospects x $50 dollars per lead = an initial investment of $20,000 dollars or X.)
Extremely Successful Entrepreneurs Develop Market tested Marketing Strategies And Or Tactics Which Consistently Yield Long Term Residual Benefits! (Which Is Definitely Why You Should Too!)
Are you starting to truly appreciate why, extremely savvy small business owners, and or entrepreneurs in general, definitely need to know the true value, a semi qualified lead has to their business? Great! So glad to hear this is finally the case.
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 gross 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!
