Comments on: The Most Expensive Way to Grow a Business http://www.ducttapemarketing.com/blog/2008/06/27/the-most-expensive-way-to-grow-a-business/ Small business marketing blog Sun, 22 Nov 2009 02:06:52 -0500 http://wordpress.org/?v=abc hourly 1 By: consumer product testing http://www.ducttapemarketing.com/blog/2008/06/27/the-most-expensive-way-to-grow-a-business/comment-page-1/#comment-409020 consumer product testing Sun, 23 Aug 2009 15:50:05 +0000 http://www.ducttapemarketing.com/blog/2008/06/27/the-most-expensive-way-to-grow-a-business/#comment-409020 test test

]]> By: Mark Brewerton http://www.ducttapemarketing.com/blog/2008/06/27/the-most-expensive-way-to-grow-a-business/comment-page-1/#comment-400535 Mark Brewerton Wed, 30 Jul 2008 08:37:37 +0000 http://www.ducttapemarketing.com/blog/2008/06/27/the-most-expensive-way-to-grow-a-business/#comment-400535 Hi John, All good stuff but I think that you have missed out a 5th way to grow revenues & one that is very often overlooked, particularly by SMEs, and that is 'fix the leaky bucket' and reduce your customer churn. All to often I find with our clients that they spend very little effort looking at their customer attrition rate & understanding why they lose customers. Now of course some level of attrition is unavoidable but we have found that by shinning a light on this area (normally by talking to lapsed customers directly) we are able to uncover issues with our clients proposition that causes them to lose customers. Frequently these turn out to be fixable issues but our clients simply hadn't realised the that the issue was a problem and therefore hadn't focused on it. Surprise, surprise when we help our customers address these issues their sales start to go up! Focusing on reducing customer churn is a much overlooked opportunity to grow sales! Hi John,

All good stuff but I think that you have missed out a 5th way to grow revenues & one that is very often overlooked, particularly by SMEs, and that is ‘fix the leaky bucket’ and reduce your customer churn. All to often I find with our clients that they spend very little effort looking at their customer attrition rate & understanding why they lose customers. Now of course some level of attrition is unavoidable but we have found that by shinning a light on this area (normally by talking to lapsed customers directly) we are able to uncover issues with our clients proposition that causes them to lose customers. Frequently these turn out to be fixable issues but our clients simply hadn’t realised the that the issue was a problem and therefore hadn’t focused on it. Surprise, surprise when we help our customers address these issues their sales start to go up! Focusing on reducing customer churn is a much overlooked opportunity to grow sales!

]]> By: Paul Simister http://www.ducttapemarketing.com/blog/2008/06/27/the-most-expensive-way-to-grow-a-business/comment-page-1/#comment-399930 Paul Simister Thu, 03 Jul 2008 18:19:40 +0000 http://www.ducttapemarketing.com/blog/2008/06/27/the-most-expensive-way-to-grow-a-business/#comment-399930 John I must admit to being a new boy to your ideas and I only started reading your book last night. This analogy of the business to an hour glass is really powerful. Like Jay Abraham's famous Power Parthenon model it shows how unstable a business can be, in Jay's case relying on one or two lead generation techniques and in yours without the backend where real money is made. It's looking like a very favourable review on my business coaching blog for your book so far. John I must admit to being a new boy to your ideas and I only started reading your book last night.

This analogy of the business to an hour glass is really powerful.

Like Jay Abraham’s famous Power Parthenon model it shows how unstable a business can be, in Jay’s case relying on one or two lead generation techniques and in yours without the backend where real money is made.

It’s looking like a very favourable review on my business coaching blog for your book so far.

]]> By: web Content http://www.ducttapemarketing.com/blog/2008/06/27/the-most-expensive-way-to-grow-a-business/comment-page-1/#comment-399904 web Content Thu, 03 Jul 2008 06:58:34 +0000 http://www.ducttapemarketing.com/blog/2008/06/27/the-most-expensive-way-to-grow-a-business/#comment-399904 As with everything, more isn't better... Aiming for quality, rather than quantity, is the only way to go... Boosting your number of leads is absolutely pointless if they're not leads that are highly qualified for optimum conversion.. Great post john As with everything, more isn’t better… Aiming for quality, rather than quantity, is the only way to go… Boosting your number of leads is absolutely pointless if they’re not leads that are highly qualified for optimum conversion..
Great post john

]]> By: PPC http://www.ducttapemarketing.com/blog/2008/06/27/the-most-expensive-way-to-grow-a-business/comment-page-1/#comment-399848 PPC Tue, 01 Jul 2008 09:33:58 +0000 http://www.ducttapemarketing.com/blog/2008/06/27/the-most-expensive-way-to-grow-a-business/#comment-399848 Wonderful post. Thanks for this one, John! It is a given that generating leads are the most expensive part of one's marketing process and it follows that making the most of the leads generated, rather than being wasteful and then trying to generate more, makes the most sense. In the same breath, by upping your conversion rate on leads you are keeping your customers close at hand, happy and satisfied. Giving an arbitrary sales spiel to a potential client, and them coming away unimpressed is a double edged sword, as they surely will regale friends and associates with the unsatisfactory experience that was had when they interacted with you or your sales staff. So cherish those leads, and strive to convert them into business as optimally as possible! Thanks for a great post yet again! Wonderful post. Thanks for this one, John!

It is a given that generating leads are the most expensive part of one’s marketing process and it follows that making the most of the leads generated, rather than being wasteful and then trying to generate more, makes the most sense.

In the same breath, by upping your conversion rate on leads you are keeping your customers close at hand, happy and satisfied. Giving an arbitrary sales spiel to a potential client, and them coming away unimpressed is a double edged sword, as they surely will regale friends and associates with the unsatisfactory experience that was had when they interacted with you or your sales staff.

So cherish those leads, and strive to convert them into business as optimally as possible! Thanks for a great post yet again!

]]> By: Adrianne Machina http://www.ducttapemarketing.com/blog/2008/06/27/the-most-expensive-way-to-grow-a-business/comment-page-1/#comment-399831 Adrianne Machina Mon, 30 Jun 2008 17:43:58 +0000 http://www.ducttapemarketing.com/blog/2008/06/27/the-most-expensive-way-to-grow-a-business/#comment-399831 Your timing is PERFECT. I have a new client who's battle cry is "more leads, more leads, more leads!" However, they already have a full pipeline. What I suggested is that we start emphasize those tactics that will enhance our credibility and will increase our conversion ratio. I forwarded this post to all my clients. Adrianne Machina Duct Tape Marketing Coach in Orange County, CA http://www.tornado-marketing.com http://www.tornado-tools.com Your timing is PERFECT. I have a new client who’s battle cry is “more leads, more leads, more leads!” However, they already have a full pipeline. What I suggested is that we start emphasize those tactics that will enhance our credibility and will increase our conversion ratio. I forwarded this post to all my clients.

Adrianne Machina
Duct Tape Marketing Coach in Orange County, CA
http://www.tornado-marketing.com
http://www.tornado-tools.com

]]> By: Hendry Lee http://www.ducttapemarketing.com/blog/2008/06/27/the-most-expensive-way-to-grow-a-business/comment-page-1/#comment-399787 Hendry Lee Sat, 28 Jun 2008 12:27:17 +0000 http://www.ducttapemarketing.com/blog/2008/06/27/the-most-expensive-way-to-grow-a-business/#comment-399787 I use a similar analogy all the time. I think of it as a bucket of water. Every suboptimal phase during the lead nurturing process is like a whole in the bucket. There will always be holes. Not people will be interested in my product or service (100% conversion), but at least I try to minimize the hole so I still have some when I finally arrive home from the river side (where the water originated). I use a similar analogy all the time. I think of it as a bucket of water. Every suboptimal phase during the lead nurturing process is like a whole in the bucket.

There will always be holes. Not people will be interested in my product or service (100% conversion), but at least I try to minimize the hole so I still have some when I finally arrive home from the river side (where the water originated).

]]> By: Mike http://www.ducttapemarketing.com/blog/2008/06/27/the-most-expensive-way-to-grow-a-business/comment-page-1/#comment-399786 Mike Sat, 28 Jun 2008 12:08:52 +0000 http://www.ducttapemarketing.com/blog/2008/06/27/the-most-expensive-way-to-grow-a-business/#comment-399786 @John - I know that referrals are deeply embedded in your approach. I wanted to add the concept to the discussion because the topic is "Expensive ways to grow a business." Since referrals are arguably the "cheapest" source of new customers, a focus on referrals should be a core design element of any marketing plan rather than an afterthought. This notion ties directly to your next post about the lifetime value of a customer "when you include their potential referral value." @John – I know that referrals are deeply embedded in your approach. I wanted to add the concept to the discussion because the topic is “Expensive ways to grow a business.” Since referrals are arguably the “cheapest” source of new customers, a focus on referrals should be a core design element of any marketing plan rather than an afterthought. This notion ties directly to your next post about the lifetime value of a customer “when you include their potential referral value.”

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