This is always a sensitive subject for small business owners to talk about. Many feel that such questions are about them and can feel challenged by this concept. As much as a PMA is important for a business the numbers will tell the owner if it's working or not.
So what are these mysterious numbers?
1. What is your average customer worth on a yearly basis?
2. How many customers do you have?
3. What is your average sale?
4. How often do your current customers but from you?
5. How many years do your customers stay with you?
6. How much do you invest in gaining new customers?
7. How many does this get you?
8. How many of your customers have referred a new customer to you?
9. How much do you invest in the incentive for referred customers?
When you look at the answers to these question and get your numbers it will be obvious where the changes need to be made. For example if you need to invest more than the value of a customer in your marketing to get a new customer it might be time to look at the way you are doing that. You will also see if you have a viable business before you run into too much trouble.
It's amazing how many people are not pro active in getting referred new customers. They just rely on passive word of mouth.
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This simple blog is just one of the tools available to let you know what it is we do. Many businesses miss simple opportunities to promote themselves effectively using what is termed as social media. To put it into real terms social media is a party on line where all forms of word of mouth referral goes on. I have found a simple but effective way of promoting your business to new and existing customers. Give me a call on 07990 640 374 or email me on realtimemarketingonline@live.com
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