MARKETING HOW-TO CONTINUED ...
at month six and they haven’t bought by month nine, they are a canceled customer. Don’t fool yourself with generous numbers that make you look good. In the end, you only hurt yourself. Once you’ve calculated your customer cancellation numbers, you have all the information you need to know if you are winning or losing. To increase revenue, you can add options like instant upsells or one-time offers. A percentage of people will buy these, and that will help boost the customer’s first-year value, which will help decrease how far the company has to go negative to acquire a new customer. If you can get the point of revenue neutral in 30 days, meaning you spend a dollar on marketing and within 30 days get at least a dollar of profit back, you could run ads forever. Understanding the five numbers previously listed and working them to your benefit is how you can fix ever-increasing marketing costs. There are two final points I need to make here. If you get numbers that are B.S., you are only hurting yourself. If they all look great and you haven’t been tracking them, the numbers are wrong. Second point: It is always less expensive to keep the customers you have than it is to get new ones. Don’t make a rookie move and invest all your time and money on new leads. You need to invest in nurture and retention of leads and existing customers. –Shaun
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