Let's have an overall view of this winning marketing formula. It just like any other formula or formula to consists of feel very important components. And the primary reason you want to do marketing is to eventually help us to improve our business revenue. But before we can work on improving our business revenue, there is also another very important components, which is can we also improve the number of customer because only we have more customer than only we can improve our business revenue. But if you look carefully, these two components are in fact the output of this formula. This is the result that we want to achieve.
So both of these are eventually the outputs of these formulas. But in order to have a significant output, we also need to plug in inputs. So in this winning marketing formulas, there are total of four very important inputs that we're going to plug in to complete the whole formulas. And the first input we're going to look into in this marketing formula is what I call leads generation is a number of new leads that we can able to generate into our business. In actual fact, we don't just market to find customer. In fact, we market to find leads, we properly would advertise on Facebook having a website or participate in any marketing exhibition, just to introduce our business to our target audience, and this group or target audience become our leads.
But not all lists who come across our business will automatically become our customer. And therefore, in between lead generation and having the output of becoming a customer we need to have a non local component called conversion, meaning that how do we convert our leads into a buying customer? Why customers don't buy from us, or at least don't buy from us at the first place? Primarily because they do not have confidence they do not know us well enough. And this is an area How can we convert our potential leads to become our customers? Once elites have purchased something from us, they have become our customer.
But our marketing formula do not stop here. After someone who have become our customer. We will want to continue to market to the same customer. How can we encourage him to come back for more repeated transaction? How can we encourage our existing customer to come back to buy more from us to have more frequent piston scrapers? So this is the end Put that we're going to look into how can we improve the in repeat transaction per customer.
And the last input that we're going to look into is can we also improve the average spending of each customer every time they come back to do business papers, for example, on your average spending for the customer is let's say by $10, can you go ahead and improve a 10% make the average spending of a customer become $11. So this will be the total components require in this marketing formula. I'm also I am also going to break this formula into two parts. The first part is the lead generation times conversion equal to number of customer and the part two, we're going to talk about the number of customer can repeat transaction times time average spending equal to revenue in the following week. Do I'm going to talk in more detail, give you more ideas and strategy and tactics. How can you improve these four different types of inputs