Right now, in your business and you’re life, you’re generating a specific set of results. It’s the income you’re making, the number of new leads you get each day, the number of deals you close, the time off that you get…
To generate those result, you’re taking specific actions on a consistent basis. You’re making a certain number of sales calls, you’re writing articles on your blog or posting on social media, attending certain networking groups, or whatever it is you do with your time.
That set of activities that generates your results is what I call your “baseline strategy”. It’s like having a playbook that you follow, and if you keep running the same plays–if you keep following that baseline strategy–then guess what: you’ll keep getting those same results.
So how do we increase our results? It can be as simple as adding one new thing to our baseline strategy; adding one new page to our playbook.
A really great way to measure your results is in terms of the lifetime value of a client: how much an average client spends with you in total over the time that they work with you. The actions you’re taking consistently in your marketing–your baseline strategy–are what determine what products and services your clients buy from you, how often they buy, how much they’re willing to pay, and how long they’ll stay with you, so they determine that lifetime value.
One of the reasons I love books so much as a marketing tool is that they can have a huge value on Lifetime Value.
One of our clients, helps small and medium-sized professional firms to raise their fees and maximise their billable hours. After publishing her book, the average lifetime value of a typical client for her went from $800 to $8,000.
Another of our clients, Frank, used his book Wake Up to the Great British Breakfast Scandal, to start getting much larger clients, and his average order value went from $5,000 to $160,000 (yes, you read that right!).
And our client Colin is using his book Scale Up to bring in 14 new clients every month. With a lifetime value of $102,000 for each new client that walks through the door, that’s a LOT of additional revenue every year ($19 Million, in fact!). It should be no surprise that we’re now working on a second book with him.
So, can you see why I tell my clients they should add a book to their baseline strategy?
Now, I don’t know what a client is worth to you right now, but what if you could increase that by a factor of 10? Or 30? Or–knowing what each client is worth to you–what if you could bring in 14 more clients each month at that value? How would that change things in your business? Your life? Your family?