The Laundry List
Over the past couple of months, we have talked about the Pareto Principle (80/20 rule) and looked at Dan Kennedy’s Money Pyramid. From those important lessons, we can conclude that the top 20% of our clients give us 80% of our revenue and that only the top 20% of any market can afford to...
Marketing that focuses on the features of your products and services talks all about your company. The quality, the attention to detail, how clean you get items, how great your team is, your turnaround time, your pick-up and delivery division, your state-of-the-art production workshop, and your...
Earlier this week, we talked about The Money Pyramid and how it applies to the target clients we intentionally go after.
Now, let’s look at it from a slightly different angle.
Where is your company on The Money Pyramid?
Where are you on The Money Pyramid?
Where do you want to be?
I first learned about The Money Pyramid from one of my mentors, Dan Kennedy.
He proved that on average, if you line up 100 people, clients, or companies, that you will see the following segmentation:
1% are rich
4% are prosperous
15% are making a good living
60% are struggling financially (living...
Pictured here with me last year, Jay Abraham is one of the greatest marketers ever to live.
As a mentor of mine, he taught me early on there are only 3 ways to grow your business.
Here they are:
#1 Get more clients. And these clients should look like clients in your top 20% that give you 80% of...
What is marketing?
Marketing can be a principle, strategy, or tactic.
We use marketing to grow relationships with our clients.
To attract and acquire clients.
To appreciate and ascend clients.
To retain our clients and get them to refer their friends and family.
Here's the question:
When you see...
You could have the very best marketing ideas.
The very best offers. The most exciting company news.
But if you don't have your clients' data points, you will not be able to communicate the offers and information to your clients.
I am a firm believer in delivering a similar message across many...
You can impact those around you with the vocabulary you choose to use!
As Maverick Drycleaners, we choose to be different.
I will encourage you to use the following vocabulary. These words communicate relationships and trust.
Clients (not customers) - those who pay you money for...
Your top 20% of clients give you 80% of your sales. And they trust you the most. They want a relationship with you.
Your bottom 80% of clients only give you 20% of your sales. They are not as interested in having a relationship with you. They see you as a transaction.
Build your business around...
In theory, it sounds like a great idea to treat all of your clients equal. The problem is they are NOT equal. They are NOT the same.
If you segment your client list based on their spending, you will find that the top 5% of your clients give you 40% of your sales, the next 15% give you...