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Advertising Resource Center |
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How to Make a Fortune from Unique Resistance-free Advertising
One of the most powerful offers you can use in your advertising is the word Free. But, you may well ask? how can I make a profit giving my products and services away without charging for them? Which is the exact reason why you need to understand the 'LVC Formula' which stands for the Lifetime Value of a Client! Here's how it works. Let's imagine for a moment you own a beauty salon. Now if you get a new customer, they may pay you $80 for their first treatment. But how much is this $80 client really worth? After all, most clients will continue to buy off you for many years to come. For instance, let's imagine your average client returns for a beauty treatment 8 times a year? and remains a client for 2 years. $80 (price of consultation) x 8 (purchases a year) x 2 (number of years) Now if you have a calculator handy, you'll work out the value of this client as $1280.00. And if your profit margin is 40% this calculates to a $512 profit per client. Let's imagine we sent a letter to all the nearby businesses offering women a free manicure valued at $30.00 (I'm not a beauty therapist, so please forgive me if all these figures are way out). And if the manicure costs you $7 in products and 30 minutes of your time (which if you're not busy? you'd just be sitting on your butt anyway!) So effectively the $7 investment could have just made you $512 in profit. And how easy is it to give away a free manicure? Or for other industries? ·A free car service The secret lies in giving away something which has a high perceived value, but actually costs you very little to produce. Why does it work so well? Using the word 'Free' in your advertising STOPS inertia. You see, people are happy with their current hairdresser? or their mechanic. But when they get an opportunity to trial a product or service for FREE - there's something irresistible and risk free about it, isn't there? A word of warning though. Make sure you offer the best possible service? otherwise people will not come back, and you'll get a bad name very quickly. And of course, where possible, make sure you collect a database? and measure your results. What could you offer for FREE? Write down a few ideas now? and start implementing this stuff. It could have an almost overnight effect on your sales. Scott Bywater Scott Bywater is a professional direct response copywriter and the author of Cash-Flow Advertising. To get a complimentary copy of his special report '7 Ways To Increase Your Turnover... No Matter What The State Of The Economy' (valued at $29.95) and a free subscription to his "Copywriting Selling Secrets" ezine where you'll discover how to write ads and sales letters that make people line up and practically beg you to do business with them visit his web site at http://www.copywritingthatsells.com.au
MORE RESOURCES: MetLife CEO Robert Henrikson, who vowed not to waste the financial crisis, will expand the insurer's global reach by buying an AIG unit for $15.5 billion American International Group Inc. bondholders reaped at least $3.2 billion after the bailed-out company announced deals to sell its two largest non-U.S. life insurance divisions for $51 billion. Indexes rose for a second day as a drop in wholesale inventories and improvement in corporate bond markets added to signs the economy is strengthening Shares of the following companies are having unusual moves in U.S. trading. Stock symbols are in parentheses. Prices are as of 4:05 p.m. in New York. Treasuries declined, led by shorter-maturity debt, as gains in global stocks lessened the refuge appeal of U.S. government securities. The U.S. posted its largest budget deficit on record in February as the government boosted spending to help revive the economy. What Wall Street economists and strategists had to say about key developments on Mar. 10 The cost to protect against defaults on U.S. corporate bonds declined to the lowest in almost eight weeks as a surge in company bond sales signaled increased investor confidence. Investors should buy Asian stocks outside Japan after valuations dropped and before sentiment strengthens further, Goldman Sachs Group Inc. said. NHN Corp., the owner of South Korea’s biggest Web search engine, is among the final bidders for LDH Corp.’s Livedoor Co. Internet unit, three people with knowledge of the matter said. Asian stocks rose, sending the MSCI Asia Pacific Index toward a seven-week high, on speculation Japan’s economy is recovering and that increased demand will allow commodity producers to boost prices. Nomura Holdings Inc.’s Jane Wang, vice chairman for China investment banking, resigned from the Japanese brokerage, said two people with knowledge of the matter, marking at least the fourth senior departure this month. Wall Street analyst opinions on stocks making headlines in Wednesday's market Ross Morrow, a professor at Iowa State University, talks about the possible impact of U.S. climate-change legislation on gasoline prices. Morrow also discusses the implications of higher prices for the U.S. economy. (Source: Bloomberg) Promotions and international sales let McDonald's wow investors while shares of Wendy's and Burger King languish amid a U.S. hunger for jobs Jim Rogers, chairman of Rogers Holdings, talks with Bloomberg's Betty Liu about Greece's fiscal woes. Rogers, speaking from Vienna, says a bankruptcy for Greece would benefit the euro. (This is an excerpt of the full interview. Source: Bloomberg) Although vacation bookings are rising with optimism about the economy, prices for hotel rooms and cruises will need time to rebound The jobless rate in the U.S. held at 9.7 percent in February and employment declined less than forecast even as severe winter weather may have forced some employers to temporarily close. |
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