The ultimate goal in any company... ...is to acquire AND retain customers where costs to acquire and retain are less than expenses, which leads to profits. Boiled down to this single statement, then the most important variable in the finances is the marketing spend. Even if your other expenses are high or way out of [...]
I am a big believer in retention marketing because it works. Retention marketing is marketing you do to customers you have acquired through past purchases. It is also far cheaper to retain customers than to acquire new ones - like 5 to 25 times cheaper, depending upon your industry. My personal experience is that it [...]
This is a Quora question I was asked and here is my answer. That will depend on additional data. Do a search for a sample size calculator and you will probably see a lot of options where you can plug in your assumptions to give you the minimum sample size needed. Optimizely has a quick and easy [...]
This is a Quora question I was asked and my answer is below. These are the major considerations when selling to distributors, resellers or retailers. History/Sales Results Demonstrate prior sales results of your product either direct to your consumer, or through other distributors, resellers or retailers. You want to prove that your product sells. Marketing [...]
I have a tool that I use weekly which has become the best productivity builder in not just my business, but my entire life. The tool is based on helping me capitalize on my most valuable resource, which is time. Most people, me included, wish they had more time, and as the years go by [...]
Everyone defines business success differently, although universally, it includes profits. When I ask people who are successful in business profits what is the one thing that they owe to their success, most say it comes down to this: try a lot of things, fail at most, but through all those failures, you find a few [...]
This post answers this question I received on Quora: Does the manufacturer of robotic kits for kids have a potential to enter markets overseas by offering a 50% discount on MSRP to importers? Will the importer have enough space to markup the price before CE retailers markups his own purchasing price? The answer is unknown [...]
It's the classic chicken or the egg...which came first. We need product reviews to sell, but how do we get them if we have not sold? Unfortunately, product reviews have been completely distorted in the marketplace from their original intent: The review has nothing to do with using it to improve products or offerings, which is [...]
I am copying this word for word from Peter Diamandis. This is worth keeping in mind for entrepreneurs. My definition of an entrepreneurial or corporate Moonshot comes from my friend Astro Teller, who is the current head of X (formerly Google X). He defines it as going 10X bigger, while the rest of the world [...]
Autoresponders are traditionally thought of in terms of email; you get a subscriber to your list and a series of emails goes out to them. Or, a customer buys a product so they get a series of emails, either general emails because you also put them on your list, or specific emails related to their [...]
