Great customer service, your winning strategy. Welcome to the psychology of great customer service section. I don't remember if I mentioned but I have a bachelor's degree in marketing. But I want to share that I had studied traditional marketing for four years. And I can say that universities are years behind the world of Modern Marketing. And I'm saying that with all my respect, but that's the fact.

One of the things I learned during I was studying traditional marketing is a statement by Philip Kotler. Your customer is 16 times more valuable than your profit. I cannot be sure if that's the right figure and maybe for different businesses, it will be different but as a business owner, you have to be aware of that fact. Sometimes we got caught working hard on driving traffic, creating products building funnels. Else driving new customers nothing wrong here. That's great.

But I think a lot of businesses just don't focus enough on the customers they already have. And I'm not just talking about customer service help them when they need help. I'm talking about lifetime customer value here. Smart companies know the lifetime value of their customers. When you grow your businesses, you will have many email lists, but your most valuable asset will be your customers list. You want to segment all the people who have bought from you in a separate list.

The act of buying is indicative of the fact these people trust you. And this is a very important requirement if you want to sell them more products. Your customers have a different relationship with you. Besides having trust in you and your company, they have already consumed your product in the know the valuation The quality you deliver are amazing. All that being said, it's a lot easier to sell them another product than to sell the same product to a person who has never bought from you. So do not neglect your current customers be there for them, especially they need help.

To really make my point here that we do not pay enough attention on our customers list. I want to tell you about a business model that many people do successfully in this business model is based on the fact that companies don't know what to do with their current customers. The business model is about licensing an email marketing campaign to businesses. Let me explain how that works. Let's say you're a business owner, and you've been in business for five years, you have 50 k subscribers, 50,000 subscribers and 5000 customers Eugene Rate a certain amount of revenue, but you want more, that's normal. After all, a business must grow to survive.

I'm a marketing consultant. And I come to you and say, Hey, I'm a marketing consultant, and I help businesses increase their yearly profits by 30%. All that without paying for advertising or any additional expenses. Would you like me to tell you more about how I do it? You say, Yeah, sure. I would love to increase my profits by 30%.

Tell me what you do. Well, I run marketing campaigns that have been proven to be successful, in fact, so far, have tried these campaigns from 10 different industries. And sometimes I managed to increase profits by up to 70%. Since you are in the jewelry business, I did these campaigns for Company A, which is from the same industry. They also sell jewelry online. And I in my team managed to increase their profits by 40%.

You say, Well, that sounds interesting. Tell me more about these campaigns. I say these are email marketing campaigns known as subscriber in customer activation. Basically, I run a very special for the email promotion that is designed to maximize sales. By the way, Frank Kern calls this promotion, the four day cash machine, we have found out that we can run these promotions every three months, and the results will be awesome every time. You say like, that sounds great.

How much would you charge me for that? I say, listen, because I'm so confident in these email campaigns. I will charge you $1,500 is a retainer. Just make sure we will actually do the campaigns and 20% of the profit. And this retainer will be only for the first campaign. If you are satisfied with the results.

We continue working together. I will do Just charge you the 20% of the profits. So if you make money, I make money. Would you like me to run these campaigns to own your business and see how much profit we can make? You say, Sure body mirror, let's give it a try. How can I send you the money.

That's it. That's the business model. Now, I will go ahead and run a simple campaign with a special discount special offer limited in diamond bonuses and so on. And when you have a customers list with 5000 people, and we sell them a product for 197, discounted from 497. And the offer is just for the next four days, we could expect 10% of your customers to buy that equals almost $100,000. And that's only the customers list.

I'm not counting the 50 k subscribers you have. Now, I mean these numbers up, but in many industries, it is possible to run search campaigns such promotions Expect over 10% of the customers to buy. And this is the exact model. Bob Serling was teaching several years ago in his program, million dollar licensing. He had many case studies and some of his students were killing it. If I remember correctly, his best student made like $850,000 in his first year doing that, out of curiosity, if you're thinking while licensing, you and I signed an agreement that you will not run these campaigns without me.

I'm not selling you to campaigns. I'm just licensing them. The moral of the story here is that we are marketers and we can truly run such campaigns ourselves, but it's a game of focus. Since we are constantly looking for ways to acquire new leads and customers we neglect the most valuable asset we have our customers list so please do not do that mistake. A lot of times, we pay high fees to external consultants to solve problems that we can solve ourselves. Why do you think we do it?

Or Why do you think big companies do it is because we're looking in the trees separately into external consultants. Look at the whole forest. They have a 35,000 feet view, while we think in sectors and we don't use the system approach to see the whole. Alright, let's recap. Number one, a customer is more valuable than a prospect to a person who has bought from you once is very likely to buy from you again providing he's satisfied with the quality and value you deliver. Number three, one of the most valuable assets in your business is your customers email list.

Don't neglect it. Number four, one of the most important metrics in your business Is the lifetime customer value. Number five, take some time to look at the forest, not just the trees. Thank you for watching and stay purposeful