Jay Abraham calls himself “America’s Number One Marketing Wizard”. His client list is impressive and in his 25 years he has amassed a lot of knowledge about what works – why – and when.
In this dense book (published in 2000), Jay focuses on using marketing to increase your business revenue. His book starts with a simple formula:
Number of clients * Average Client Sale * Sale Frequency = Total Income
His book then proceeds to show ways to increase the number of clients, increase the average client sale, and/or increase the sale frequency.
The book contains a very useful 50 question list to help you focus your marketing (“Where do my clients come from specifically (demographics)? When I create a new client for my business or profession, who else have I directly created a new client for? Who are my biggest competitors and what do they offer that I do not?”).
While some of Jay’s suggestions require larger budgets to achieve, some of his ideas are quite provocative:
-
Calculate the lifetime value of a client and spend appropriately to capture new ones.
-
Better than risk-free guarantees
-
Create better add-ons – what does your client need before using your product? After? Make it easier to purchase automatically.
-
Always test your marketing pieces (split-testing, telephone, email, sample, price, etc.) Measure your ROI. Consider split testing.
-
Creating host-beneficiary relationships
-
Creating a (detailed) referral system
-
Regaining inactive clients
-
Direct mail piece suggestions
-
Pre-qualifying leads
-
Telemarketing scripts
-
Bartering
Each of the chapters is full of case studies and examples that help to explain his principles. Any one of these ideas could produce a wealth of results for your business.