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KOM. #C X #V X $ = R #Customers x #Visits x Average Spend $ = Revenue EXAMPLE: In a typical month, you see 1,000
KOM.
#C X #V X $ = R #Customers x #Visits x Average Spend $ = Revenue EXAMPLE: In a typical month, you see 1,000 customers only once who spend an average of $100 each visit. The math is... 1,000 x 1 x $100 = $100,000 So, think like a pizza shop owner, retailer, beautician, landscaper, visiting nurse, handyman, mechanic, therapist or consultant. Do they not want to see you yearly (Tax Accountant), quarterly (JiffyLube), monthly (GreatClips), weekly (LawnCare, MassageEnvy or MissionBBQ) or daily (Home HealthCare Nurse, Chick-fil-a or Wawa)? What about Amazon, Nike or Tesla...keep in mind that "online retail" is far different from big ticket items like a vehicle - how might they measure leverage? What impact will LOVE or a referral network have on marketing for your case...do you see differences & connections? Try your best to answer the following using the Marketing Leverage Formula for success... 1) What is the most important variable in the formula? 2) Why is that the most important variable? 3) What does that have to do with "LOVE Others" (thy Customer) or "V + C = P"...does it at all? Explain briefly.#C X #V X $ = R #Customers x #Visits x Average Spend $ = Revenue EXAMPLE: In a typical month, you see 1,000 customers only once who spend an average of $100 each visit. The math is... 1,000 x 1 x $100 = $100,000 So, think like a pizza shop owner, retailer, beautician, landscaper, visiting nurse, handyman, mechanic, therapist or consultant. Do they not want to see you yearly (Tax Accountant), quarterly (JiffyLube), monthly (GreatClips), weekly (LawnCare, MassageEnvy or MissionBBQ) or daily (Home HealthCare Nurse, Chick-fil-a or Wawa)? What about Amazon, Nike or Tesla...keep in mind that "online retail" is far different from big ticket items like a vehicle - how might they measure leverage? What impact will LOVE or a referral network have on marketing for your case...do you see differences & connections? Try your best to answer the following using the Marketing Leverage Formula for success... 1) What is the most important variable in the formula? 2) Why is that the most important variable? 3) What does that have to do with "LOVE Others" (thy Customer) or "V + C = P"...does it at all? Explain brieflyStep by Step Solution
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