Watch the video on Youtube: http://www.youtube.com/watch?v=yGt9PYurAcI
My marketing manager Jack Born came up with what I think is one of the most ingenious things that I’ve ever seen. It is so simple and it’s so elegant and here’s what it is. How many of you know what I’m about to talk about? Okay a few of you, some of you don’t.
Traffic, “T” is for traffic. “C” is conversion and “E” is economics and in the middle is 80/20. Everything you ever needed to know about marketing is actually on this picture. It all fits somewhere. Let me explain what this means.
Traffic comes to your website. It has to get converted and when it converts it generates money. You take the money and you buy traffic and you convert the traffic and you make more money. In your business you are always working on one of three things. You’re working on traffic, or conversion, or economics.
When you wake up tomorrow morning, when you wake up on Monday morning, you just need to ask yourself the question. Do I need to work on traffic right now? Do I need on conversion right now or do I need to work on economics? Now what do I mean by economics? By economics I mean what you sell and how much you sell it for and how much it’s worth to people and why people want to trade their money for it. The end res… sell results not procedures.
Am I going to get more people coming to my store? Am I going to do a better job convincing them when they’re here or am I going to sell them something better or different working on my products and my offerings? Everything you do in business is one of those three things.
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