Knowing how to calculate the Cost of Acquisition (COA) of a new customer is a critical skill needed to improve the efficiency of your marketing. Calculating COA requires that you know a variety of intermediate pieces of information to get to the COA number. COA is applicable in all areas of marketing and advertising and […]
Understanding how to calculate Life Time Value (LTV) of a customer is essential to knowing how to approach strategic decisions related to marketing. When a business has either a sporadic customer purchase cycle or a long term interval between repeat purchases it can be challenging to know what the LTV is. In this article we […]
Generally, business revenue models fall into two categories… recurring revenue models and non-recurring revenue models. A business with a recurring revenue model can be looked at like they generate an annuity revenue stream. Because of that you can use financial industry concepts to predict the Life Time Value (“LTV”) of a customer. First you have […]
Marketing Strategy Part 1 – The Economics of Marketing Understanding the economics of marketing is a critical concept that many small business owners have not either been taught or has sufficient experience to fully understand. As a result, one of the biggest mistakes small businesses make is pricing their products and services “Too Low”. What […]
Introducing a blog post series on how to construct an effective Marketing Strategy An effective marketing strategy is one of the major differences between small businesses and big businesses. Learning how to construct an effective marketing strategy is a skill that can be learned. This email series will walk you through the foundational concepts and […]
Here are Four Reasons You DON’T NEED a CRM: #1: You don’t want to grow your business. A growing business would cut into your commitment to binge watch all 635 episodes of Gunsmoke. #2: You have too many customers. Getting away from pesky customers is the main reason that you look forward to nights and […]
Cash Flow… it is all about Cash Flow. Do you have a business that someone will want to buy when you are ready to sell? What does that look like in your industry? Most entrepreneurs dream of growing a business to the point where someone will buy it and then they can retire and live […]
A CRM should have the ability to generate reports that are easily visible to the general public. Think of web pages that are generated by the CRM and can dynamically and automatically update the information being displayed without any direct manual intervention. Here is an example to consider. We have a client who operates an […]
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Managing data is a challenge for even the most sophisticated business owners. As you customize your CRM and add unique data fields the number of fields can easily overwhelm your ability to keep up with them. The above is the reason that your CRM should offer several different tools that make it easier for you […]
With a little luck you noticed the headline and thought… why not take a peak. Here is the deal… there has been a tremendous amount written about competitive advantage in business, but very little really hits the mark in terms of explaining what it is in a manner that helps the small business owner take […]
