WFIM is now The Little Guy Marketing, you can find our website HERE
Great article by Justin Foster on things you can or cant do about social media, check it out
This blog post was written by William Fennell an internet marketing consultant based in Michigan City. 219-210-6000
http://www.thelittleguymarketing.com/
Friday, September 11, 2009
Friday, August 28, 2009
South Bend Massage
WFIM is now The Little Guy Marketing, you can find our website HERE
If you live near South Bend Indiana or Mishawka In and need a massage you have to see Dale Huston. http://www.naturaltouchtherapy2.com/ He does deep tissue/ deep muscle massages.
This blog post was written by William Fennell an internet marketing consultant based in Michigan City. 219-210-6000 http://www.thelittleguymarketing.com
If you live near South Bend Indiana or Mishawka In and need a massage you have to see Dale Huston. http://www.naturaltouchtherapy2.com/ He does deep tissue/ deep muscle massages.
This blog post was written by William Fennell an internet marketing consultant based in Michigan City. 219-210-6000 http://www.thelittleguymarketing.com
Monday, April 13, 2009
Marketing in slow times
WFIM is now The Little Guy Marketing, you can find our website HERE
You must take advantage now and market in lean times! You need to improve your internet presence now while your competitors are licking their wounds and not taking advantage. Improve your internet marketing in Michigan City.
You also need to work on keeping track of your customers who visit your site and business and get them to buy more and buy more often! The other way it to get new customers but that is more costly.
Bill Fennell 219-210-6000 http://www.thelittleguymarketing.com
You must take advantage now and market in lean times! You need to improve your internet presence now while your competitors are licking their wounds and not taking advantage. Improve your internet marketing in Michigan City.
You also need to work on keeping track of your customers who visit your site and business and get them to buy more and buy more often! The other way it to get new customers but that is more costly.
Bill Fennell 219-210-6000 http://www.thelittleguymarketing.com
Monday, January 26, 2009
Life Time Value Lesson 3
WFIM is now The Little Guy Marketing, you can find our website HERE
How do you increase your customer margins? Are you getting all the business from your customers? Can you get them to spend more per order? Can you get them to come in more frequently? McDonald's taught a lesson when they started serving breakfast.
Disney is another success story at getting more of its customers wallet. Disney realized getting people into their parks was only part of the spending pie, they added hotels and restaurants. Brilliant!
Lets see how Starbucks does with the music business, do they need to get as big as Virgin Records? NO, Starbucks just needs to increase the spending of its customers.
Apple enjoys one of the highest margins per customer! They started by asking "What is a computer?" and "What is software?"
Do you know your share of your customers wallet?
This blog post was written by William Fennell an internet marketing consultant based in Michigan City.
http://www.thelittleguymarketing.com/
How do you increase your customer margins? Are you getting all the business from your customers? Can you get them to spend more per order? Can you get them to come in more frequently? McDonald's taught a lesson when they started serving breakfast.
Disney is another success story at getting more of its customers wallet. Disney realized getting people into their parks was only part of the spending pie, they added hotels and restaurants. Brilliant!
Lets see how Starbucks does with the music business, do they need to get as big as Virgin Records? NO, Starbucks just needs to increase the spending of its customers.
Apple enjoys one of the highest margins per customer! They started by asking "What is a computer?" and "What is software?"
Do you know your share of your customers wallet?
This blog post was written by William Fennell an internet marketing consultant based in Michigan City.
http://www.thelittleguymarketing.com/
Sunday, January 4, 2009
Life Time Value of your customer lesson 2
WFIM is now The Little Guy Marketing, you can find our website HERE
Life Time Value of a customer lesson 2. Most people understand measuring profit by a product or service. We understand that a large pepperoni is more profitable than a medium cheese pizza.
Everyone thinks that marketing is about the products, we have been brainwashed to think that way. Profitability needs to be measured bu the customer! Which customers are most profitable? How do you calculate that?
1. Sort your customers by what they spend over a period of time.
2. Group your customers into buckets for the sake of time(ie all customers who spents under $40, those who spent $41-50, $51 and up and so on for 12 months.
3. For each group subtract all costs so that your left with the difference between that and the amount spent. This amount is the individual customer profitability.
4. Take overall revenue and divide by individual profitability to get a profit percent for each bucket.
So for example the Jones spent $10,000 on pizza last year. They order every week by calling in They never know what they want so it takes longer on the phone each call. They use a coupon and live on the outer edge of the delivery area.
Customer two, Mr Roberts is 22 and lives in the area and spends $3,000 on pizza last year. He responds to your email and orders online. He always gets a loaded meat pizza and picks it up at the store.
Who is the most valuable customer? I don't know, but you need to know for your business! When you know profitability by segment you can determine how much to invest in acquiring in each segment.
You need to think about how to market to the different audiences based on their margins. If Mr Roberts starts calling instead of ordering online or starts using delivery half the time your profits might slip.
IF you can drive better coupons to the Johnsons based on their profitability and get them to order online, or get one of their neighbors to order you can spread your delivery costs, and your profit structure might change.
This blog post was written by William Fennell an internet marketing consultant based in Michigan City. 219-210-6000
http://www.thelittleguymarketing.com/
Life Time Value of a customer lesson 2. Most people understand measuring profit by a product or service. We understand that a large pepperoni is more profitable than a medium cheese pizza.
Everyone thinks that marketing is about the products, we have been brainwashed to think that way. Profitability needs to be measured bu the customer! Which customers are most profitable? How do you calculate that?
1. Sort your customers by what they spend over a period of time.
2. Group your customers into buckets for the sake of time(ie all customers who spents under $40, those who spent $41-50, $51 and up and so on for 12 months.
3. For each group subtract all costs so that your left with the difference between that and the amount spent. This amount is the individual customer profitability.
4. Take overall revenue and divide by individual profitability to get a profit percent for each bucket.
So for example the Jones spent $10,000 on pizza last year. They order every week by calling in They never know what they want so it takes longer on the phone each call. They use a coupon and live on the outer edge of the delivery area.
Customer two, Mr Roberts is 22 and lives in the area and spends $3,000 on pizza last year. He responds to your email and orders online. He always gets a loaded meat pizza and picks it up at the store.
Who is the most valuable customer? I don't know, but you need to know for your business! When you know profitability by segment you can determine how much to invest in acquiring in each segment.
You need to think about how to market to the different audiences based on their margins. If Mr Roberts starts calling instead of ordering online or starts using delivery half the time your profits might slip.
IF you can drive better coupons to the Johnsons based on their profitability and get them to order online, or get one of their neighbors to order you can spread your delivery costs, and your profit structure might change.
This blog post was written by William Fennell an internet marketing consultant based in Michigan City. 219-210-6000
http://www.thelittleguymarketing.com/
LifeTime Value of your Customer Part 1
WFIM is now The Little Guy Marketing, you can find our website HERE
The Life Time Value of your customers or LTV, do you know what is is for your customers? By creating good relationships with your customers you can increase the LTV and convert prospects into buyers.
LTV lesson one: Do not pay too much to acquire a customer. Do not over pay to get a new customer. If your spending $500 a month on a phone book ad you need $500 a month in new business to cover that cost right? Actually no, its higher because you have lost customers that you need to make up for plus margins to meet. A brand new customer costs you more than existing customers.
Is it easier to acquire a new customer or to service an existing one an build on your relationship? Do you know what the retention rate is of your new customers? In an average business 50 percent of first time customers will not use you again! Are you average?
Things you need to know whats the average order size of a first time customer? what is your defection rate? whats the real cost of servicing a first time customer?
If you are online you may be paying for advertising clicks that do not convert to a sale! The cost of those clicks would need to be added to the cost of a newly converted customer. Most people who visit your site do not do what you want them to!
This blog post was written by William Fennell an internet marketing consultant based in Michigan City Indiana. 219-210-6000
http://www.thelittleguymarketing.com/
The Life Time Value of your customers or LTV, do you know what is is for your customers? By creating good relationships with your customers you can increase the LTV and convert prospects into buyers.
LTV lesson one: Do not pay too much to acquire a customer. Do not over pay to get a new customer. If your spending $500 a month on a phone book ad you need $500 a month in new business to cover that cost right? Actually no, its higher because you have lost customers that you need to make up for plus margins to meet. A brand new customer costs you more than existing customers.
Is it easier to acquire a new customer or to service an existing one an build on your relationship? Do you know what the retention rate is of your new customers? In an average business 50 percent of first time customers will not use you again! Are you average?
Things you need to know whats the average order size of a first time customer? what is your defection rate? whats the real cost of servicing a first time customer?
If you are online you may be paying for advertising clicks that do not convert to a sale! The cost of those clicks would need to be added to the cost of a newly converted customer. Most people who visit your site do not do what you want them to!
This blog post was written by William Fennell an internet marketing consultant based in Michigan City Indiana. 219-210-6000
http://www.thelittleguymarketing.com/
SEO Internet Marketing Michigan City Indiana 219-210-6000
WFIM is now The Little Guy Marketing, you can find our website HERE
How many web designers in Michigan City can truly say that they know about internet marketing?
There are plenty of web designers who make beautiful and technically correct websites,but for the most part they are not internet marketing savvy.
Do they know how to implement email campaigns? Or have they suggested a lead capture mechanism for your site or an auto responder? Does your web designer know what SEO is needed for your business? How much did they talk to you about key words for your site?
Do you or your web designer know what key words your customers are using to look for you and your products? Are either of you familiar with the term local search? If a web surfer in Los Angeles finds your site does it do you any good when you only sell local services?
I am an Indiana based Internet marketing consultant. I help small business owners use their websites to make money and get more customers. Contact me at 219-210-6000for a free consultation on how to use a website better and use a customer list of emails to bring more profits to your business.
This blog post was written by William Fennell an internet marketing consultant based in Michigan City. 219-210-6000
How many web designers in Michigan City can truly say that they know about internet marketing?
There are plenty of web designers who make beautiful and technically correct websites,but for the most part they are not internet marketing savvy.
Do they know how to implement email campaigns? Or have they suggested a lead capture mechanism for your site or an auto responder? Does your web designer know what SEO is needed for your business? How much did they talk to you about key words for your site?
Do you or your web designer know what key words your customers are using to look for you and your products? Are either of you familiar with the term local search? If a web surfer in Los Angeles finds your site does it do you any good when you only sell local services?
I am an Indiana based Internet marketing consultant. I help small business owners use their websites to make money and get more customers. Contact me at 219-210-6000for a free consultation on how to use a website better and use a customer list of emails to bring more profits to your business.
This blog post was written by William Fennell an internet marketing consultant based in Michigan City. 219-210-6000
Subscribe to:
Posts (Atom)
