by David DiNatale, CEO
Is there a way in this tough economy for your business to grow by 33% over the next 12 months? Yes! In my monthly coaching program with business owners, this is one of the foundational models they learn! I was fortunate to learn this growth formula in the early 90’s from one of my mentors, Jay Abraham. Here is the simple, but powerful, formula that will put your business on the road to 33% exponential growth!
Step #1 – YOU MUST INCREASE YOUR NUMBER OF CLIENTS BY 10%
How many clients have you done business with over the last 12 months? Do you know your number? How many clients do you have a record of in your database? You must know this number! This number establishes your baseline. Suppose you have 1,000 clients. You need to increase your client base to 1,100 clients. Now, how do you do that?
You must have a powerful Online Marketing Platform™ that is generating several new clients every week for you!
You must have an Offline Marketing Campaign that is consistently generating several new clients every week for you!
You must have a turnkey systematized referral program that rewards existing clients for referring new clients to you!
If you have these 3 programs working in your business you will easily grow your client base by 2 clients a week or 100 clients in a year.
STEP #2 – YOU MUST INCREASE YOUR AVERAGE TRANSACTION VALUE BY 10%
Let’s say your average annual client transaction value is $100. Your goal is to increase that to $110 per client! How do you do that?
- You bundle products/services together that could give you the 10% boost. A dentist could bundle x-rays, cleaning, a tooth whitening together. A plumber, AC repair, etc. could bundle a monthly maintenance package together.
- You use a monthly newsletter, text messaging, and email marketing to offer specials on new products, existing products, etc. You create an automated follow-up system that creates interest in your product line and easily creates the 10% bump in your overall transaction value!
STEP #3 – YOU INCREASE THE NUMBER OF TRANSACTIONS PER YEAR BY 10%
In our example, your business is only doing one transaction per client per year. If you gave that an overall 10% bump and increased that to just a 1.1 transactional average, that would complete the exponential effect of 33% growth you were shooting for! Here’s how you got the 33% growth:
Current Baseline: 1,000 clients x $100 transactional value x 1 transaction per year
= $100,000 in annual revenue
New Baseline: 1,100 clients x $110 transactional value x 1.1 transactions per year
= $133,100 in annual revenue!
You increased your client base by 10% to 1,100. You increased your transactional value from $100 to $110. 1,100 x $110 = $121,000. You increased your number of transactions from 1 per year to 1.1 per year or a 10% increase. We take the $121,000 x 1.1 = $133,100! That’s a 33% increase in your revenue growth! It’s that simple when you know your numbers, have mastered the growth formula, and have the tools such as the Online Marketing Platform™ by GetOnTheMap.com to make it happen!
CHANGE YOUR MINDSET, GROW YOUR BUSINESS…STARTING TODAY!
When you join GetOnTheMap.com’s Online Marketing Platform™, you receive so much more than just a dominating online presence for your business! You receive our monthly newsletter crammed full of great ideas to help your business grow! You also get to join in on my monthly educational webinars where we discuss mindset, sales, and marketing ideas. You will be constantly motivated and informed while being a part of a family of entrepreneurs who are joining forces to get this great country and our economy back on track…building businesses that will stimulate this economy and create more jobs through their growth! Will this be your business?
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