This is really a basic business concept, but unfortunately it’s at this level that some business people dismiss this as “obvious”, and don’t fully grasp this foundational truth of business building, therefore they completely miss out on how this simple concept will catapult your profits beyond what you are currently doing, and help turn your business into the profit-machine it can and will be.
Now let’s take a look at the numbers (let’s use $100,000 for easy math, add a zero if you like to think in the millions)…
$100,000 + 50% growth = $150,000
Yes, I know that’s a simple formula, and I know you’re thinking…
“Mark, I’ve been busting my brain for years trying to make my business have more profits – if it were that easy, I’d just wave a magic wand and do it.”
Let me introduce you to the magical concept of the “Magic Wand of Marketing Leverage” in helping you build your business.
First, let’s talk about “The Three Ways To Grow Your Business”:
- attracting more prospects
- converting more prospects to customers
- increasing the lifetime value of your current and new customers by increasing the average dollars per sale, and increasing the frequency that they purchase from you
*** Important – please read through these three ways to grow your business again ***
Alright, let’s continue…
So, instead of hoping for “pie-in-the-sky” dreams of increasing your business by 50%, we can break things down into manageable steps, and if we increase each of these three areas just a little, we create the magical effect of “Marketing Leverage”, like this…
- plus 15% increase in attracting more prospects
- plus 15% increase in converting more prospects to customers
- plus 15% increase in sales from current and new customers
Simply by increasing each of these three areas by only 15%, your profits grow exponentially to…
$152,087 !! (that’s over the 50% increase we were shooting for)
So you can appreciate how important it is to have an effective marketing program in place that leverages each of these three basic areas.
Now here’s a little secret that can work more magic for you…
In each of these three areas you’ve seen work above, there are a number of strategies and techniques that can be used to leverage up each of these three basic areas even more, creating more marketing leverage to increase the profits of your company (these are the strategies you learn in the Small Biz Success Coach Program).
So instead of only 15% leverage in each of these, it’s not unreasonable to think we could leverage one (or more) of these three marketing levers up to 50% or more!
Stop, and just imagine for a moment…what if you could:
- attract 50% more prospects, or…
- convert 50% more prospects to customers, or…
- increase the lifetime value of your current and new customers by increasing the average dollars per sale by 50%, and/or increase the frequency that they purchase from you by 50%
What would that do to the bottom line profits of your business?
Can you say… Woo Hoo!!!
Gets exciting, doesn’t it?
So, you can really see the advantages of “Marketing Leverage” and how just this one concept can create astounding results in your business, yes?
How about a bonus tip to get you thinking even more, here’s a fourth and fifth way to leverage your profits:
- increase the rate at which those first three happen… equals more profits in less time!
- increase your sales profit margins by reducing your cost of goods sold
Now we could just stop right here and you could click away and try to implement those five ideas into your business without my on-going help, but I don’t think you really want to do that, here’s why