Marketing Success by the Numbers

A big misconception about successful marketing (in general) and copywriting (in particular) is that it's all about creativity.

Not so.

Marketing -- defined as finding, getting, and keeping customers -- is really a numbers game.

Know your numbers and you can play the game to win. Don't, and you won't.

Here are two examples of numbers to know:

1) What is your lifetime customer value (LCV)? In other words, how much does an average customer spend with you over their entire buying lifetime?

When you know this number, you know how much you can afford to invest in customer acquisition (i.e., how much you can "buy" customers for and still profit).

2) What are your conversion rates? In other words, what percentage of people turn into customers after seeing your ad, visiting your web site, or hearing your networking pitch?

When you know this number, you know what's working, so you can do more of it. You can also fix or stop doing what's not working.

The point to all this? When you know your numbers, you can make intelligent decisions about how to spend your limited time and money.

When you don't know your numbers, you are flying blind. And you will crash, eventually.

Here's another example, which will resonate with you if you market a professional service ...

Three weeks ago, I sent 2 project quotes to prospective clients. One week later, I received 2 checks from those quotes (100% closing rate).

Two weeks ago, I sent one project quote to one prospective client. Last week, I received one check from that quote (100% closing rate).

By the numbers, there are two lessons here:

1) My 100% conversion rate either means I'm a good salesman or my prices are too low. So I'm raising rates on my copywriting services ASAP to see if profits go up, even if my conversion rate takes a hit.

2) You can bet I'm sending out more than two project quotes this week! The numbers are very clear: More project quotes = more paychecks for me. How's that for motivation?

Sidebar: I never call my quotes "quotes," or "bids," or "estimates," and neither should you. Why get lumped in with everyone else? If you do, you're competing on price -- a loser's game.

Instead, when a prospect asks for a price quote, send them an "Outline of Services," a "Project Description," or some other term of your own creation. This helps put your business in a category of one, where there's no competition.

You'll find more ideas like these in my Free Report, Guaranteed Marketing.