How Knowing Your Lifetime Customer Value Can Boost Your Business
In marketing, this is the golden number: Lifetime Customer Value (LCV). Yes, very, very few businesses know what their LCV is. Knowing your LCV can enable you to be extremely competitive, it can allow you to take very good calculated risks on your marketing, the kinds of calculated risks that allow for fast growth.Better Business Control By Mastering The 3 Types Of Costs
In business, the basic idea is to lower costs, without sacrificing quality, and to keep doing so. To achieve that goal, you must have a very good, clear understanding of costs. That starts by understanding the nature of the three types of costs. Strictly speaking, there are two types, fixed costs and variable costs. However, we find it beneficial to add a third type, overheads, to make it easier on our minds.3 Ways To Activate People’s Desire For Your Products
Desire: A strong feeling of wanting to have something. Activate desire, and you are in business. How do you activate it?A Good Market Has These 11 Characteristics
Not all markets are created equal. Some are bigger, better and more lucrative than others. Knowing how to evaluate a market is like knowing where to go fishing for a great catch.A Good Product Optimizes These 9 Economic Values
Think about it, we all want things quickly, we want them to be easy to use, we want them to look good, and so on. With or without thinking about it, we all consider 9 things whenever we are making a purchase. If you can master optimizing these 9 things in your product, you will be on your way to having an irresistible product.