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Reputation Audit Example

Reputation Audit Examplehttps://localbiz.info/reputation-audit-example/By

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Reputation Audit Example

Reputation Audit Examplehttps://localbiz.info/reputation-audit-example/By

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Reputation Audit Example

Reputation Audit Examplehttps://localbiz.info/reputation-audit-example/By

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Online reputation management in digital marketing

Online reputation management in digital marketinghttps://localbiz.info/online-reputation-management-in-digital-marketing/By

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How to respond to positive reviews examples

How to respond to positive reviews exampleshttps://localbiz.info/how-to-respond-to-positive-reviews-examples/By

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how to respond to negative reviews on google

how to respond to negative reviews on googlehttps://localbiz.info/how-to-respond-to-negative-reviews-on-google/By

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How to respond to fake negative reviews

How to respond to fake negative reviewshttps://localbiz.info/how-to-respond-to-fake-negative-reviews/By

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80 20 Marketing Secret The Vital Few

Some Of Your Customers Will Buy More

Starbucks employ bored, listless, unengaged teenagers and make $83,902 per employee.

Mom and Pop coffee shops employ at least two people who get paid only on results, take pride in their business and want to serve the community. They make $60,580 per employee.

How do you get Starbucks performance into your small business?

The Pareto Secret

Pareto rule: some of your customers want to give you more money (if you have more value to give)

Here's a story from the book 80 / 20 marketing by Perry Marshall.

He asked 80 people in a seminar to stand up if they owned a pair of shoes.

No surprise - all of them stood up.

He asked people who owned less than 8 pairs to sit down, A bunch did, 30 still standing.

'Less than 16 pairs sit down' - 13 left standing. If you find this incredible, perhaps you're a man, because of these 13, 9 were women.

'32 pairs' - three left standing.

'Don't be embarrased anyone more than 64?' one left standing.

Three 80 20 Rule Examples

You may have noticed that 10% of your customers give you 70% of your profits.

And 5% of them give you 85% of your grief.

You have one star sales person who sells as much as her three colleagues put together.

(You get the idea, it's not always 80/20, but it is always non-linear, some things are disproportionately more important thatn others.)

How To Find Your Vital Few

So how do you benefit from this? If only you could find the people who want to give you more money. Your 'buyers in heat.'

Just as soon as you want, you can get them.

Not only to identify themselves, but have them throw money at you.

Starbucks again. Here's how they do it.

They'll sell you a coffee for a few bucks. Well, even here you choose how much you want to spend: $1.95 to $3.50.

Make your own? A french press costs $40 $130. Yes, they all work the same, but Starbucks let's you choose how much you want to pay. Oh, wait. You can buy a Versimo 580 for $138 - or a Versimo 600 for $250 - whichever you want to spend.

Then of course you have to buy the pods - locking in recurring income - but thats another story.

(They used to sell a Nuova Simonelli machine for $2750 - no longer, maybe because they make more on the Versimo+pods for life.)

More 80 20 Rule Business Examples

Here's an insight into the justifications people make for spending a lot of money:

Love this machine. Easy to use and makes a perfect latte every time. I've had it for a little over a month now and no problems. I will update this review should problems arise. Regarding the price, I have spent so much at Starbucks over the years I probably could have purchased 5 of these by now. So in the end I am saving money.

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Assets Make You Money And Save You Time

Assets - especially sales and marketing assets - work for you while you take time for yourself

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Assets Make You Money

Assets - especially sales and marketing assets - work for you while you take time for yourself