Episode C3.011 (NA) Sales Metrics & Earn Rate

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Publish to Thrive Radio Show
Welcome to the Publish the Thrive Radio Show. Every business owner can benefit from publishing their knowledge. Publishing is more than publishing books. Publishing helps you reach new prospects, strengthen relationships with current customers and create additional revenue opportunities.

I’m your host Charles George. I am a digital direct marketer and copywriter. For about 20 years, I have consulted with businesses on creating marketing campaigns that reach new customers and sell more to their current customers. Today, I focus on building profitable online audiences and brands.

On the show we talk about marketing, sales and growth for a stage 3 businesses.
 
Show Objectives
Today we are going to talk about  sales metrics, revenue, profit and scaling a company in todays online world.  If you are looking to build a scalable business online then this show will reveal the metrics that allow you to scale your business to whichever level you desire.
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In 2013 Facebook released a pdf that talked about how to use Facebook pages to build your business. These same principles still apply today to building audiences, whether it’s Facebook pages or any other online audience.

The three stages of building an online audience are Build, Engage, and then Amplify.  

Build Engage, Convert

So today we are going to share metrics that relate to building and scaling an online business.
 
Key Issues
One of the things I do is I study direct mail letters from the past. I’m talking about companies that used direct mail as their primary marketing channel. These are long forms sales letters that can range from 4- 40 pages in length.

Now to write a sales letter that long that keeps people’s attention and then sells a product is not necessarily easy.

Direct Mail Story of each direct mail package is a sales man for your business. So if we send 10 letters a day, 100, 1000, 10,000, etc.  This company started out and after 8 years they were mailing 100,000 pieces of mail per day.

Think about this.

Today’s equivalent online channel is email.

The Value of an Email List

Why the size of your email list matter?
Whether you scale a direct mail campaign or an email campaign the metrics are very similar.  

Both have to do with understanding your metrics.
 
Segment 2 - What You Need to Know
Build Stage- during this stage we are identifying our ideal audience and then taking them from suspects to prospects. We are getting people

Identify our audience  -  Identify the email lists and Facebook interests that we are going to target

Cost per click –  The cost of each click on an advertisement.
Cost per lead – How much it costs to purchase to acquire a lead or email opt.

Landing Page Conversion Rate – The percentage of people who land on a page and then become a lead.
 
Segment 3 –
Engage – This phase is about building the initial trust
Email Open Rates – the average percentage of people who open your email rates over time.

Email Click Through Rates – The average percentage of the total number of people who open your email

Unique Open Rates – This is where each person is only counted once. Expressed as a percentage

Unique Click Through Rates  - Each person is only counted ounce of the total number of people who click on a link in your email
Unsubscribe Rate- percentage of people who unsubscribe. Track on a per email basis.

Value of Email Subscriber to the Business 
 
Segment 4- What You Need to Do​
Conversion Metrics

• Cost to Acquire a Customer
• Value of a Customer to Our Business
• Value of Email Subscriber to Our Business
•  How often people purchase
• Average Transaction Size  
• Top 1-20% Value of a Customer

 
3 Types of Media Buying

• Buying Media for a profit  - This is phase one of media buying - With this level of media buying we spend $1 to earn at least $1 or more.
• Buying media to break even - This is phase one of media buying - With this level of media buying we spend $1 to earn $1.
• Buying media at a loss - This is phase one of media buying - With this level of media buying we spend $1 to earn $1.

 
 Publish to Thrive Radio Show
Welcome to the Publish the Thrive Radio Show. Every business owner can benefit from publishing their knowledge. Publishing is more than publishing books. Publishing helps you reach new prospects, strengthen relationships with current customers and create additional revenue opportunities.

I’m your host Charles George. I am a digital direct marketer and copywriter. For about 20 years, I have consulted with businesses on creating marketing campaigns that reach new customers and sell more to their current customers. Today, I focus on building profitable online audiences and brands.

On the show we talk about marketing, sales and growth for stage 3 businesses.
 
About Charles George
Charles George is passionate about helping purpose-driven entrepreneurs create a lifestyle business by combining publishing with direct marketing.

One of the fastest and most profitable ways to build an audience is through email. Download Charles' free report 101 Ways to Increase the Size of Your Email List. http://publishtothrive.com/IBGR
 
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Previous: Episode C3.010 Customer Recovery
 Next: Episode C3.012 Summary of Season 2 Sales Stage III
 

Written by Charles George

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