12 Months to $1 Million
Startup development
Unlock Your Business's Potential with Influencer Leverage
from 12 Months to $1 Million: How to Pick a Winning Product, Build a Real Business, and Become a Seven-Figure Entrepreneur by Ryan Daniel Moran
How to Apply This
- Evaluate the long-term value of each customer.
Consider the total revenue you anticipate each customer will generate over their relationship with your business. Ask yourself questions like, "How much am I likely to earn from this customer over time?" and "Can a significant upfront investment in customer acquisition lead to higher returns later?" If the answer is yes, you should feel confident in initially investing more, even if it doesn't yield immediate profits. - Identify the most effective marketing channels for your target audience. Determine which platforms your potential customers use the most and focus your marketing efforts there. This might include social media platforms where your audience is active, influencer partnerships that resonate with them, or local advertising if your business has a strong community presence. What's important is to tailor your strategy to where you can engage most effectively with your audience.
- Prioritize building long-term relationships with customers.
Instead of pursuing quick sales, concentrate on nurturing relationships with your customers. Consider strategies like loyalty programs, regular newsletters, and personalized follow-ups that make your customers feel valued and encourage repeat business or even referrals! - Use direct marketing strategies to take control of your sales process.
Instead of relying on third-party platforms, consider selling directly to your customers through your own channels, such as a company website. This can help you gather valuable customer data, control the customer experience, and potentially increase your margins by reducing intermediary fees. - Implement effective email marketing.
Develop a strong email marketing strategy to communicate directly with your customers. Segment your email list to provide tailored content that meets the specific needs and interests of different customer groups. Regularly test and refine your email campaigns to ensure they deliver value to your audience.
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