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Uploaded byBernard Keavy
20161202 master10kv22linkedin
The document outlines a framework to identify an extra £10k in business profits in just 45 minutes through a strategic focus on six key operational areas. It details the five-step profit formula, various marketing strategies, and emphasizes customer engagement and conversion optimization. Additionally, it provides insights into analyzing business metrics and improving profitability through effective marketing practices.
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20161202 master10kv22linkedin
- 1. Bernard Keavy Strategic MarketingSpecialist B.A. Econ (Hons) Chartered Financial Planner How To Find An Extra £10K in Your Business In 45 Minutes Without Spending A Cent!
- 3. Are You RunningOn All 6 Cylinders? 1. Operations 2. Finance 3. Strategy 4. Sales & marketing 5. People 6. Systems
- 4. Are You RunningOn All 6 Cylinders? 0 5 10 Start up to the promised land
- 5. £10k In 45Minutes Focus on the 5 Step Profit Formula links
- 6. Profit Graph Currently Prospects 1000 Conversionrate % 20 Customers 200 Transactions per customer 2 Transaction average value £ 1000 Turnover £ 400000 Gross margin % 60 Gross profit £ 240000 Overheads £ 150000 Net profit £ 90000
- 7. Profit Graph 2 Currently10% Increase % Increase 1. Prospects 1000 1100 2. Conversion rate % 20 22 Customers 200 242 3. Transactions per customer 2 2.2 4. Transaction average value £ 1000 1100 Turnover £ 400000 585640 5. Gross margin % 60 66 Gross profit £ 240000 386522 Overheads £ 150000 150000 Net profit £ 90000 236522
- 8. Profit Graph 3 Currently10% Increase % of previous figure 1. Prospects 1000 1100 2. Conversion rate % 20 22 Customers 200 242 3. Transactions per customer 2 2.2 4. Transaction average value £ 1000 1100 Turnover £ 400000 585640 5. Gross margin % 60 66 Gross profit £ 240000 386522 161% Overheads £ 150000 150000 Net profit £ 90000 236522 263%
- 9. Profit Graph 6 Currently50% Increase % of previous figure Prospects 1000 1500 Conversion rate % 20 30 Customers 200 450 Transactions per customer 2 3 Transaction average value £ 1000 1500 Turnover £ 400,000 2,025,000 Gross margin % 60 60 Gross profit £ 240,000 1,215,000 506% Overheads £ 150,000 150,000 Net profit £ 90,000 1,065,000 1183%
- 10. Your Break EvenOutput £’s Output FC VC TC TR Break even New TR
- 11. £10k In 45Minutes • How is your product/service offering different from your competitors… (your market dominating position)? • How do you market your business? • How much do you spend on marketing and how cost effective is it In reaching your core market? • How many clients are in your database? • How do you keep in constant touch with them?
- 12. £10k In 45Minutes • What is the most profitable aspect of your business? • What is your average gross profit % per transaction? • How many enquiries do you get per day / week / month? • What is your lead conversion % age? • How many times on average do your customers buy per year?
- 13. £10k In 45Minutes • What is your average sales value per transaction? • What is your average customer lifetime value? • What are your turnover and gross profit figures for the last 3 years? • What are they planned to be next year & how will you achieve this? • What are your 3 biggest issues that worries you most?
- 14. £10k In 45Minutes Here are the 8 strategies in the 5 Step Profit Formula I use for 95% of businesses
- 15. The wedding industry: Thisis the typical “event chain” of vendors when someone is getting married Jeweler (engagement ring) wedding planner church / chapel reception venue wedding dress florist wedding cake printer (invitations) Joint Ventures
- 16. –80% + ofALL sales occur between the 5th and the 12th point of contact between the business and the prospect £10k In 45 Minutes
- 17. • Drip Campaign: –automatically delivers a form of communication to customers or prospects on a predetermined and scheduled basis £10k In 45 Minutes
- 18. Future Buyers Soon-To-BuyBuyers! Now Buyers < 1% Understands that prospects gather information in different ways and within different timelines 99% of prospective buyers reach a buying decision this way Strategic Marketing The Key To Successful Marketing A ZB C
- 19. Future Buyers Soon-To-BuyBuyers! Now Buyers < 1% Benefits of Ownership Why SHOULD I buy? Objections to Ownership WHY SHOULDN’T I buy? Vendor Selection WHO should I buy from? The Buyers Journey £10k In 45 Minutes InformationEvidence
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- 22. Conversion Equation • Niche •Market-dominating position • Conversion equation • INTERRUPT – Headline • ENGAGE – Sub-headline • EDUCATE – Information, content, copy • OFFER – No risk, no commitment
- 23. Time “On YourBusiness” Very Urgent Not Very Urgent Very Important Do Diarise Working on your business Self development Learn and do! Not very important Delegate Dump
- 24. How To MarketYour Business • Have something good to say • Identify the right people • Find out what they want • Innovate • Tell the right people • Say it well • Say it often