When were you last amazed? Can you remember why?
It’s all down to expectations of course!
Expectations got me a sliding hiatus hernia (and 50% corrosion of my oesophagus) in my fifties. And from that, I discovered the truly amazing solution to ridding oneself of the stress that expectations cause.
I call it my Zero Tolerance of Expectation Principle 🙂
Yet despite that most awesome of advice, I still find it amazing when I say something amazing and others find it embarrassingly not amazing at all.
And then I say something utterly un-amazing, and they are amazed.
So this morning I’m helping someone with marketing. I tell them that every word tells a story (which is obvious to me, but nevertheless, pretty damn amazing), and they are not amazed at all.
I go on to talk about PPC advertising and Returns on Investment ROI and mention that you can out-manoeuvre your competition if you take into account your Average Product Lifetime Value (APLV).
My client thinks about this for a second, and goes completely amazeballs.
She realises she’s been holding back on her budget because she had no idea how much more she could spend (and get a return) if she took APLV into account.
Here’s an example. You have a product that sells for £100. You have a 20% net profit margin (so you’ve got up to £20 to spend on marketing it). This is where most people stop.
But in her case, the average customer buys 3 of these. So in reality she has up to £60 to spend to get the customer on board.
Now she can beat her competitors with certain knowledge that she can spend more than them on winning new customers.
And it also means she can spend more on getting her existing customers to buy more or buy more often (it’s 10x easier to resell to an existing customer than get a new one – I’ve made that stat up, but you know what I mean).
You can also use Average Customer Lifetime Value (ACLV) to get an even bigger edge (and steer your customers into new directions and markets you operate in).
Amazeballs for the win.