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Bio
Issue 94
5-14-04
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The
Guerrilla Marketing Coach and
Online Marketing Superstars Ezine
Weekly
Tips To Increase Your Profits
By
Mitch Meyerson
Founder of Guerrilla Marketing Coach
Author of Online Marketing Superstars.com
www.MitchMeyerson.com |
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A
Note from Mitch |
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Featured
Article: What's a Customer Worth? |
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Teleclasses |
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Market
Place |
Dear Subscriber,
Welcome to the Guerrilla Marketing Coach e-newsletter.
We've got a couple of big announcements
this week.
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First,
a free gift for you! We
have created a 25-page Online
Marketing Superstars Sampler
where you get excerpts from
five of the top Internet Marketers
of the world. This is chock-full
of amazing online marketing
tactics you can use right
now. You'll want to share it with a friend!
 Download
it here.
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In today's issue we are proud to feature another
excerpt from the Guerrilla
Marketing Toolkit. Perhaps the most
important 'number' in your business isn't
your bottom line, but the actual dollar
value of the worth of your customers. Find
out how much a customer is worth to your
business and learn why that number is so
important to your bottom line.
If you
missed last week's issue, How Guerrilla
Marketing Is Different From Traditional
Marketing, you
can read it here. We hope you enjoy
this issue.
To Your Continued Success!
Mitch
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Quote For The Day:
'Positioning is not what you do to a product. Positioning
is what you do to the mind of the prospect.' --Al
Ries and Jack Trout
What's a Customer Worth?
excerpted from
The
Guerrilla Marketing Toolkit
by Jay
Conrad Levinson and Mitch Meyerson
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Take a minute to determine a critical
marketing statistic: "What's the value of each
of your customers over his or her lifetime?"
Write down the answer and post it over your desk and
share it with your employees.
Why is this statistic
important?
Because the value of
your customers helps you determine how much you might
be willing to spend to acquire a new customer. And,
just as important, it forces you to realize how much
it costs you to lose a customer once you've got
him or her!
Federal Express is
a company that focuses on the value of a customer. If
a mid-sized company sells 30 packages a week (at $25
each), that's $750 a week, or $18,750 a year. If a customer
gets angry over a $25 shipment and switches his business
to a competitor, Federal Express loses thousands and
thousands of dollars. That's why every Federal Express
supervisor is authorized to grant a $100 refund on the
spot, no questions asked, for any delayed shipments.
A hundred dollars is a small price to pay to keep an
$18,750 a year customer.
To compute the value
of a customer, answer these simple questions:
- If you continue
to provide good service and quality, how long
will the customer patronize your business?
- How much money
will this customer spend on your products or
service in a year?
- Multiply the amount
of money spent in a year by the length of time this
customer purchases your goods and/or services.
- The result is
the lifetime value of this customer.
This number should
be engraved on your forehead and you should share
it with all your employees. It will help you focus on
the critical elements of building your business.
The
Guerrilla Marketing Toolkit takes you by the hand to
increase your bottom line. Not only will you learn What
A Customer Is Worth, you'll learn everything you need
to know to keep them happy once you've got them.
Click
here for the full scoop.
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Your
Coaching Fieldwork:
Schedule
some time this week to determine what a customer is worth to
your business. As you look at the actual
dollars, think of two ways to increase your
level of customer service, then find a way
to implement these strategies this week.
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Guerrilla
Marketing Tip
According to a recent
study, a satisfied customer tells one friend, a dissatisfied one
tells nine friends. A Guerrilla
interested in positive
word of mouth needs to focus on service. It costs six times as much money to
acquire a new customer, so it boils down to your bottom
line to keep your current customers happy.
Mitch Meyerson is a consultant, author and coach and the
CEO of Guerrilla Marketing Coach. Over the last 20 years has been
helping clients break through barriers in their personal and professional
lives.
He is the author of six personal development books and
audios including Six Keys To Creating The Life You Desire, When Is Enough
Enough? When Parents Love Too Much and Designing The Life Of Your Dreams.
His books appear in over 21 languages and he has been featured on
the Oprah
Winfrey show.
He is also the Founder and Creator of The
Guerrilla Marketing Coach Certification Program and has personally trained over
100 marketing coaches.
 He
is now accepting three new clients for individual
coaching and mentoring. If you are interested,
send
us an email and we will set up a phone
consultation.
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Let
us know what you think!
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(C) 2007 Mitch Meyerson
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