Distribution and marketing – Business has two major parts. And both of them are important, You’ve got to put 50% of your time, effort and investment into distribution, that is, getting your products and services to the market place. The other half of your time should be spent on sales and marketing – getting the market place to come to your products and services.
Lifetime value – How much are you going to spend in your lifetime on something as simple as toilet paper? How much will the average customer in your business spend with you over a lifetime? You must establish this long term view of their value before you can appreciate how important it is to develop a relationship with customers and ensure everything is done to keep them as long as possible.
Test and measure. This is the KEY!!! You cannot manage what you do not measure. And how do you grow if you don’t know the areas to work on? When it comes to your business you must find out what’s working and what’s not. One of the big problems with marketing is that many people think their ad is bringing in more business than it really is because they don’t properly test and measure. Ask each and every customer and prospect where they heard about you and your business. This will give you an idea of what’s been working and what hasn’t.