This post is part of the 📖 1-Page Marketing Plan series.
Today, I am reading a new section Numbers Tell Us the Whole Story from Incresing Customer Lifetime Value chapter of the book The 1-Page Marketing Plan written by Author, serial entrepreneur and rebellious marketer Allan Dib.
Yesterday, I read some sections of Ascension from Delivering a World-Class Experience chapter of the book.
Tomorrow, I am going to read a new section Polluted Revenue and the Unequal Dollar from Delivering a World-Class Experience chapter the book. Look out for tomorrow’s article.
Numbers Tell Us the Whole Story
What gets measured gets managed. Marketing is a game for which you need to measure, manage and improve your numbers constantly. You don’t need a long, convoluted story. You just need the numbers because numbers tell us the whole story.
Here are some of the critical numbers you need to know:
- Conversion rate
- Average transaction value
- Break-even point
Leads: Calculate the number of new leads that come into your business.
Conversion rate: Calculate the percentage of leads you converted into paying customers.
Average transaction value: Know the average dollar amount that customers spend with you.
Break-even point: Identify the dollar amount you need to make to keep your doors open. It encompasses such things as rent, staff, utilities and any other ongoing operating expenses.
All of these numbers are typically measured monthly, but depending on the size of your business, you could measure weekly or daily.
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The main point is that measuring, managing and improving your key marketing numbers, even by an incremental amount, can have a massive impact on the result. Small hinges swing big doors.
You only need to measure a handful of key number in your business to see the health of your business.
Measuring, managing and improving your numbers daily, weekly or monthly is key to building a high growth business.
In this groundbreaking new book you’ll discover:
How to get new customers, clients or patients and how to make more profit from existing ones.
Why “big business” style marketing could kill your business and strategies that actually work for small and medium-sized businesses.
How to close sales without being pushy, needy, or obnoxious while turning the tables and having prospects begging you to take their money.
A simple step-by-step process for creating your own personalized marketing plan that is literally one page. Simply follow along and fill in each of the nine squares that make up your own 1-Page Marketing Plan.
How to annihilate competitors and make yourself the only logical choice.
How to get amazing results on a small budget using the secrets of direct response marketing.
How to charge high prices for your products and services and have customers actually thank you for it.
Author(s): Allan Dib
Part 32 of 36 in the 📖 1-Page Marketing Plan book series.