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Your Profit Cheat Sheet

by Joel
8 replies
People Will Pay More if .....
▫ You have demonstrated superior value
▫ You have demonstrated superior quality
▫ You have demonstrated superior ROI
▫ You have a 'premiere' brand

Increase Profits By .....
▫ Get new customers
▫ Increase transaction size (up-sell, cross-sell)
▫ Increase frequency of purchase
▫ Extend life of the customer
▫ Reactivate inactive customers

Chances Of Making A Sale .....
▫ Chance of selling to a new prospect, 1 in 8
▫ Chance of selling to an inactive customer, 1 in 3
▫ Chance of selling to an active customer, 1 in 2

Quick Profit Fixes .....
▫ Do more of what's already working
▫ What else would be similar to what's working now
▫ Implement a systematic referral program
▫ What joint ventures can you develop
▫ How else can you reach your prospects
#cheat #profit #sheet
  • Profile picture of the author Janice Sperry
    That is a nice cheat sheet. It sums up about 50 pages of some ebooks.
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  • Profile picture of the author EthanDenney
    Nice cheat sheet.
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  • Profile picture of the author abednego
    Yup - it can be applied to pretty much anything. You should write more and expand on each subject. Maybe create a WSO.
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  • Profile picture of the author Matt Bard
    Not sure where you got the
    Chances Of Making A Sale …..
    ▫ Chance of selling to a new prospect, 1 in 8
    is that from the old marketing saying that someone has to see your offer 7 times before they make a sale?

    If the industry average for a sales page conversion to a cold lead is 2%, then the 1 in 8 does not compute.
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    • Profile picture of the author Andyhenry
      Originally Posted by Matt M View Post

      Not sure where you got the

      is that from the old marketing saying that someone has to see your offer 7 times before they make a sale?

      If the industry average for a sales page conversion to a cold lead is 2%, then the 1 in 8 does not compute.
      Didn't you realise that 67% of all statistics are made up?
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      nothing to see here.

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  • Profile picture of the author stevecane
    1% conversion rate for some forms of advertising, though that stat applies mainly to 'blind' marketing. Where did you get the 1 in 8 new customerss to sales figure?

    S
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  • Profile picture of the author Venturetothetop
    Originally Posted by Joel View Post


    Chances Of Making A Sale .....
    ▫ Chance of selling to a new prospect, 1 in 8
    ▫ Chance of selling to an inactive customer, 1 in 3
    ▫ Chance of selling to an active customer, 1 in 2
    I agree with Matt, these figures do not make sense. 1 in 8 is amazing if your getting it, and if the pospect is hot and targeted maybe it's true, but otherwise I doubt it.

    As for active and inactive, you miss a key point which should go into another section:


    How to stay in business

    ▫ Communicate regularly with customers, not just selling but adding value
    ▫ Listen to customer feedback - make sure you give them a way to express it (forum or feedback section)
    ▫ Continuously improve your product with the aim to make it the market leader, or watch as a larger competitor comes and steals all your market share.
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    [B]

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  • Profile picture of the author DrGUID
    > Do more of what’s already working

    +1 for this! If you have found a good niche, milk it until you totally own that niche!
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