August 25, 2022: Identifying opportunities and boost ROI
Brett Denton joined us to share the 5-step proven profit formula that has been doubling profits for his clients.
How to get more clients?
Generate more leads
Have more conversions
What does it take to produce more revenue?
Consider your overhead expenses and find ways to increase your profit margin
5 critical steps to address to attract new clients and generate more revenue
Leads
Conversions
Average sale value
Number of transactions
Profit margins
Optimizing these 5 factors is primary to growing your clients and revenue.
Brett took our mentees through an exercise of establishing a profit graph with set baseline numbers for the above factors and showing how the numbers can increase with certain strategies.
Increasing lead generation through
Email campaign
Referral program
Endorsement partnerships
Increasing the conversion rate
Drip campaign-minimum of 6 marketing messages before a prospect responds
Increasing the number of transactions
Brett took us through this amazing example of how a florist can come up with an innovative membership product and compel a guy to buy from them 5 times a year instead of once.
Increasing the profit margins
Identify the ideal customers who buy more, then target them.
The cost of acquisition should go down when talking to an ideal client.