Category Archives: Marketing

The original social marketing strategy?

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Be part of the conversation by helping, rather than selling

Word of mouth referrals from friends, family and other trusted sources have always been the best possible type of inbound marketing, but they’re truly brought to light in today’s social economy.

Referrals vs. traditional marketing
If you market your business the old-fashioned way, you’re probably using broadcast and outbound marketing, such as a commercial on TV or the radio. You’re hoping that: the masses watch (or hear) it, have the problem you solve, remember your name, and then go to the store and buy it.
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The Marketing Equation

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Most business owners typically focus on either one or two aspects of their business: total revenue or net profit. The common mindset is increase one, and you’ll increase the other. But total revenue and net profit are results. The only way to change a result is to influence the components that make it. Think about it: you can’t bake a better pie with the same recipe – you have to change some or all of the ingredients.

There’s a better way to grow your business – it’s called The Marketing Equation. With this simple formula, I’ll show you how to change end results, such as net profit, by focusing on the variables that influence each one.

The only numbers you’ll ever need to know:

  • Prospects X Conversion Rate = Customers
  • Customers X Transactions X Average Sale = Total Revenue
  • Total Revenue X Margin = Profit

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