January Marketing Newsletter is Now Online

I just sent out our January Monthly Marketing Newsletter.  The focus this month is on Social Media Marketing.

There are lots of links to helpful information so check it out and let me know what you think.  You can leave your notes in the comments section below.

If you would like to have the newsletter delivered directly to your inbox, use the signup form in the right column to register.

Have a great day!

To your success,
Ken Partain

What Is The Value of a New Client?

The answer to this question will be different for everyone, but I want to share with you a way to figure this out and what you can do to improve it.

The value of a new client will determine the decisions you make about pricing your products and services, hiring support staff and how much you will spend on marketing and advertising to attract your ideal client.

Let’s look at an example.  Let’s say you sell widgets.  These widgets cost you $20 to produce and you sell them for $40.  You now have a gross profit of $20 on each widget sold.

Now let’s say a typical client buys one widget a month and stays with your company for 2 years.  Each widget makes $20 in profit times 24 months, which equals $480.  That means that each new client is worth approximately $480 in profit to your small business.

Now how much money would you spend to attract that client? $10? $50? $100?

Let’s look at this from another angle.  If you are spending $1,000 on advertising and marketing and you only attract 2 new clients you are losing money, especially if those new clients don’t buy as many widgets and don’t stay with you quite as long.

Now let’s see what you can do to improve the value of a new client.  If you were to raise the price of your widget just 10% to $44 and your costs remained the same, your profit is now $24 per widget, which bumps the value of a new client up to $576 ($24 profit x 12 widgets x 2 years).

And what if your new client bought 14 widgets per year?  Now the value of a new client is up to $672 ($24 profit x 14 widgets x 2 years).

And what if your new client stayed with you for 2 1/2 years?  Now the value of a new client is $840 ($24 profit x 14 widgets x 2.5 years).

Now how much money would you spend to attract your ideal client?  By making improvements in several areas of your business, you can attract a much more profitable client, which in turn allows you to market your small business more consistently across multiple channels and attract even more clients.

I’d love to hear your thoughts on this.  Please share them by commenting below.

To your success,
Ken Partain

Calgary Strategic Marketing Coach

Glue Solutions

Fiona Friesen

920-396 11 Avenue SW
Calgary, AB T2R 0C5
Phone: 403-718-0148

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Company Description: Glue is a marketing firm that works with entrepreneurs through the process of building your business and systemizing your marketing. We work with you through strengthening your brand, creating a foundation of marketing materials and creating lead generation strategies that will work for your goals, natural tendencies and budget.

Service Area: Calgary, Alberta, Canada

Associations – Certifications – Professional Endorsements: Certified Duct Tape Marketing Coach

Glue is a marketing firm that works with entrepreneurs through the process of building your business and systemizing your marketing. We work with you through strengthening your brand, creating a foundation of marketing materials and creating lead generation strategies that will work for your goals, natural tendencies and budget.

Chicago Small Business Marketing Coach

Effective Directions, Inc.

Jeffrey Bishop
1612 Hedg Court
Naperville, IL 60565
Phone: 630-305-0609
Email: jeffb@ducttapemarketingcoach.com

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Payments Accepted:

  • Cash
  • Checks

Company Description: We offer Small Business Marketing Services for businesses with 5 to 15 employees and revenues between $500K to $2.5M. We specialize in B2B and service-based industries. We provide Marketing Strategy Development, Ideal Client Identification, and we’ll help you define your Core Message.  We will also help develop a package of your products and services and help identify ways to automate your ongoing marketing efforts.

Service Area: The Greater Chicago Area

Associations – Certifications – Professional Endorsements: Certified Duct Tape Marketing Coach.

What is a Marketing Coach?

Coaching Tools CloseupMost people I know have played some sort of team or individual sport in their lives. In every instance there was a coach who knew the rules of the game, who knew the skills required to succeed, who knew the techniques to help improve performance, and who knew that to win you had to have a strategy.

A marketing coach is just like the coach of any other sport. They are the ones who help you with your marketing strategy. They are the ones who help get your business in shape to compete. They are the ones who can teach you the techniques to stay on top of your game.

As a small business owner you are the one who has to execute. You’re the one who’s out on the field every day. You are the one who has to compete.

A marketing coach will help you get in shape so you can perform to the best of your abilities out in the real world.

And most importantly, they are the ones that will hold you accountable for achieving the goals you set for yourself and your small business.

There are lots of small business marketing coaches profiled on our site. Take a few minutes to get in touch with them, interview a few of them to see who you connect with the best and get ready to take your small business to the next level.

To your success!
Ken

Michigan Remodeler Marketing Coach

Remodel Your Marketing

Kyle Hunt
1452 Crest Road
Howell, MI 48843
Phone: 517-548-7140
Email: kyle@remodelyourmarketing.com

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Payments Accepted:

  • MasterCard
  • Visa
  • American Express
  • Discover

Company Description: I work exclusively with Remodelers here in Michigan to implement our proven, practical and effective Remodeler Marketing & Sales Systems.

It’s easy for business owners to feel stuck. Lose their passion for the business. Wear too many hats (that don’t fit.) Lose sleep because they can’t get everything done…

I help rid Remodeling business owners of all that “pain” by installing a proven Marketing & Sales System called Duct Tape Marketing into their business so they can build the profitable and thriving business they deserve.

Do you know a Remodeling business owner here in Michigan who may need my help?

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Service Area: All of Michigan! Includes: Ann Arbor, Grand Rapids, Jackson, Kalamazoo, Flint, Bay City, Lansing, Muskegon, Mount Pleasant, Traverse City.

Associations – Certifications – Professional Endorsements: Authorized Duct Tape Marketing Coach

Dallas – Ft. Worth Marketing Coach

The Marketing Twins

Randy Vaughn
P.O. Box 821003
Ft. Worth, Texas 76182
Phone: 817-657-4472
Email: randy@marketingtwins.com


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Hours of Operation: Monday-Friday 9am-5pm – available for FREE initial marketing consultations at just about any time.

Payments Accepted:

  • Cash
  • Checks
  • MasterCard
  • Visa
  • American Express

Company Description: The Marketing Twins is a faith-based creative team offering marketing solutions so you can do GREATER THINGS. As an authorized Duct Tape Marketing small business coach, we offer marking coaching for organizations and small businesses looking to install a comprehensive and systematic marketing system (instead of flying by the seat of their pants in marketing!)

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Service Area: Dallas, Fort Worth, Denton, Abilene, Midland, Lubbock, Decator, Tyler, Temple, Wichita Falls

Specialties: Randy is an Authorized Duct Tape Marketing Coach