In this episode, Angus Pryor, from Profit Leap, invites us to critically analyze where the bulk of our business is coming from and encourages us to have strong measurement systems in place in order to have an accurate perception of who and what is driving the performance of our business. As a marketer, Angus knows how valuable and insightful these measurements are and how based on them you are better informed and equipped to strategically and confidently adjust and improve your marketing mix: the 4 Ps of Marketing – Product, Place, Price and Promotion.
Know who your customers are. Try to identify their behavior when they deal with your business, where they spend their time and do life. This is where your focus and attention should be and where you should invest your marketing money. When you identify your ideal customer, marketing is no longer a gamble, it becomes something predictable with goals and a plan attached to it and the odds of it working is higher.
In this episode, you’ll hear:
- 3 main challenges small businesses have with their marketing efforts
- About the client lifetime value and how to calculate it
- 3 ways to grow a business
- Valuable tips to track, measure and identify ideal customer
- About the 4 P’s of Marketing and your marketing mix
- The riffle and shotgun approaches to marketing and their effectiveness
- Why it’s important to pay attention to what your competitors are doing
- How the 80/20 rule can be applied to many areas of your marketing