Small Business Trends for 2018 and Why They Matter to Your Business

As we countdown the days until 2017 transforms into 2018 you’ve most likely given some thought to what the new year will bring for your business. What do you need to be prepared for so your company is ready for success in the coming year? While my crystal ball isn’t perfect, these five small business…

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5 Last Minute Holiday Marketing Ideas to Kick-Start Procrastinating Customers

Everyone looks forward to the holidays, but if your customers have not yet booked their holiday marketing arrangements, they’re going to be very grumpy elves. Deadlines are passing and it’s simply too late for almost every option available. But don’t despair, Rudolph with his red nose is here to light the way. EDDM or Every…

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Subscription Box Services; A New Business Model For Your Clients

We’ve seen incredible growth in business using the subscription based model in the last few years, but why has this been so successful and what does it mean to you and your customers’ bottom line? Let’s start with the basics (if you’re a little confused about this model and want to learn more, check out…

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#1 Six Critical Numbers to Know for a Powerful ROI and How to Calculate them

Customer Acquisition Cost (CAC): How much it costs your company to acquire a new customer. Review acquisition-marketing efforts over past 12 months; divide into efforts resulting in a direct sale separate from those that resulted in a lead that was then converted into a sale. I am not suggesting campaigns that generate lots of leads…

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#2 Six Critical Numbers to Know for a Powerful ROI and How to Calculate them

2. Customer Retention Cost (CRC): How much it costs your company to retain and market to existing customers/donors. Same as CAC, but collect expenses and results only for efforts targeted to existing customers. Remember, we are measuring total customers who responded not the total number of transactions. That way you can see how many people…

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#3 Six Critical Numbers to Know for a Powerful ROI and How to Calculate them

3. Customer Purchase Frequency Rate: The average number of times a customer purchases/donates over a certain period. Two simple ways to increase response and sales, offer more products or get customers to buy more often, told you this would be straightforward stuff. Knowing the current frequency rate is the first step toward moving the needle…

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#4 Six Critical Numbers to Know for a Powerful ROI and How to Calculate them

4. Customer Average Sales per Purchase: The average spend per purchase over a certain period. If you use an auto-billing model, this number will be super easy to project. Knowing your average sales per purchase number is especially helpful when comparing new and existing customer results. Existing customers almost always have higher average sales and…

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# 6 Six Critical Numbers to Know for a Powerful ROI and How to Calculate them

6. Customer Lifetime Value (CLV): The total value of purchases over a customer’s lifetime (or average length of time they actively buy from the company). This is the honker of them all, when you identify the Customer Lifetime Value it is like finding buried treasure. Once you know how much customers buy and for how…

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