MAKING BANK is now a weekly YouTube TV show / iTunes Podcast full of #Success and #Business with Josh.
Subscribe to the Podcast MP3: http://bit.ly/TumblrSubscribe
Subscribe to iTunes: http://bit.ly/JoshF_Itunes
SUBSCRIBE for weekly episodes and bonuses: http://bit.ly/JoshFSubscribe
=== SUMMARY ===
How are you going to acquire new customers at a reasonable cost?
That—more than anything else—is the question you need to be able to answer as an entrepreneur looking to launch a business that will survive and thrive.
Customer acquisition is everything. It is the lifeblood of every business, be it nascent or fully-developed. Without consistent and reliable new customer acquisition, a business is living with one foot in the grave.
Contrary to what most entrepreneurs think, customer acquisition doesn’t need to be a profitable enterprise right off the bat. In fact, the most successful customer acquisition campaigns are quite often breakeven, or even negative at the front-end.
Think of it like this—if it costs $1000 to acquire 100 potential customers (leads) for a company, and only 10 (10%) of those leads convert into customers (purchasing a $25 per month subscription-based product), the acquisition cost at the end of month one puts the business $750 in the red.
The customer acquisition cost is NEGATIVE at this stage.
But by the conclusion of month four, the company has reached the breakeven stage, and at the end of the month five the company has made a 25% profit on its initial $1000 investment. Plus, the company gets to hang on to (and continue to market to) the other 90 leads that haven’t become customers yet.
This idea that it’s OK to not run an immediately profitable customer acquisition campaign is just ONE of the many MASSIVE takeaways shared on this week’s episode of Making Bank, where host Josh Felber, sits down with marketing funnel master Todd Brown, of Marketing Funnel Automation.
Inspired by a single piece of direct-response copy he got in the mail, Todd catapulted himself into the world of marketing 15-years ago and never looked back. Today, he’s enamored with the idea of salesmanship multiplied through readily repeatable, automated means that any entrepreneur can use to grow a healthy business.
Listen as Todd and Josh talk at length about a number of incredibly valuable marketing concepts and strategies that every entrepreneur—be they a seasoned veteran or new arrival to the game—needs to know, including…
- The danger of having ONE of ANYTHING
- Reasonable customer (lead) acquisition
- Mom N’ Pop lead acquisition versus savvy lead acquisition versus professional acquisition
- Why elite marketers are more like prosecutors than salespeople
- The under-appreciated value of numbers-knowledge
- And the THREE indispensable keys to a successful front-end funnel build
#MakingBank #JoshFelber #ToddBrown
=== ABOUT Josh Felber ===
As a High Performance Coach and Start-Up Advisor, I help business owners, entrepreneurs, & millennials understand where you can grow your business with fast proven results to obtain wealth and find freedom.
A serial entrepreneur with 28+ years of starting and growing multiple multi-million dollar companies (including one with $5 Billion annual revenues), I’ve been:
- 2x Best-Selling Author as a co-author with Steve Forbes & Brian Tracy
- Voted the Best Personal Finance Expert in 2014 (National GOBankingRates competition)
- A contributor to articles on Entrepreneur.com, Inc.com, & Forbes.com
- Recognized multiple times in the National Who’s Who of Entrepreneurs
- Expert guest on NBC, CBS, ABC, and FOX
- Keynote Speaker
- Host of Making Bank TV Show
I’ve helped my clients achieve:
- Business growth from 6 to 7 figures & doubled revenues in as short as 6 months
- Sales growth in 25% within 3 months using online and digital marketing
- Go from 0 to $30 Million company valuation in 9 years
Get daily Success Tips on FB: http://www.FB.com/JoshFelber10x
Meet Josh at his WEBSITE: bit.ly/JoshFelber
Read Josh’s BLOG on: http://bit.ly/JoshF_BLOG
Follow Josh on TWITTER: http://bit.ly/JoshF_TWITTER
Follow Josh on LINKEDIN: http://bit.ly/JoshF_LINKEDIN