|
|
For instance, you can offer them a better and more advanced version of the current product or service they are buying at a discounted price if they agree to upgrade it. Understanding The Numbers – Marginal Net Worth Many aspects of selling and customers rely on this figure known as the marginal net worth. Suppose that you are in the business of selling shavers. A new customer that visits you, can net you a profit of $100, due to the package of shaver and razor blades that you sell.
A ‘Starter Pack Set’ if you will. Your customers return every year, purchasing Phone Number Data a ‘Top Up Package Set’, which earns you $50 in profits. This means that the average amount you earn for reselling is $50. On average, the marginal net worth of a customer is $50, calculated by averaging their purchases per year against their average spending. When you are able to quantify a customer’s marginal net worth, you can work with the new data to further grow your business, and budget your marketing dollars accordingly. Calculate Your Marketing Budget with A Customer’s Marginal Net Worth If a customer is worth an average of $50/year and it costs $15 to win over their patronage.
A new customer will be worth $50 in sales, per year, in the following years. This gives you a better picture of how much to allocate your advertising budget to the net, you more customers. With this method, you can calculate how much you can afford to spend to secure a customer. It makes it easier to adjust your budget – after all, you can spend as much as you need to secure a customer as long as it costs less than the marginal net worth of the customer. You can start small at first based on what you can afford. After you have gathered more profits from the customer’s reordering, you can then hike up your advertising budget. Calculating your customer’s marginal net worth gives you an added advantage over your other competitors in the industry.
|
|
發表於 16:16:32