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What’s an effective way to market to an entirely new bunch of potential customers so you aren’t wasting precious resources on blitz marketing? The two questions you may want to ask yourself are:

• What do prospective customers really want to buy from me?
• What related products are they already buying?

Once you figure this out you will know who is more predisposed to purchase your products/services. Then, you find other businesses with the same customer base who you can customer share with.

Create an incentive and great cross-sale package to encourage both of your customer bases to buy more from both of your businesses.

The basic concept is this: You want to find existing businesses who have customers of the type you are looking to market your products/services to. Then strike up a relationship with those business owners to work out an incentive for customers to buy from both businesses.

This win / win will increase your market audience and the other business owner generates added value from their current customer base. How do you figure this out?

Be mindful of Jay Abraham’s formula you can follow with great success.

LV = (P x F) x N – MC

Here’s what it all means:

• LV is the lifetime value of a customer
• P is the average profit margin from each sale
• F is the number of times a customer buys each year
• N is the number of years customers stay with you
• MC is the marketing cost per customer (total marketing expenses/number of customers)

Once you’ve calculated how much you should invest to attract a new customer, you will know how much of an incentive you can offer to a related business that helps you both attract new customers. So, here’s your step-by-step process:

1. Find companies that already have the customers you are looking for
2. Negotiate an incentive for them to share their customer list with you
3. Focus your marketing resources to this group of predisposed customers

If you need help working through this process, please contact us and we’ll set you up with a comprehensive system of marketing tools and resources.

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