...in this issue...
- Leaving a legacy?
- Marketing tip
- Increase your profit programme
- Have a laugh
- Strategic direction
- What I've been up to
Leaving a legacy – we are anyway so it may as well be a good one!
Back in July I wrote about leaving a legacy and asked what yours would be. A number of people responded to the question and I want to thank them for being willing to contribute to someone else without any need or expectation of getting anything back.
The reason I’m writing about this is we have become so focussed on measuring response and ROI that I think we sometimes forget that we are part of a community and what we give out we get back sometimes 10 fold and more.
We forget that we reap what we sow. This is sometimes called the long tail in marketing and business. As marketers our job is to plant seeds, thought seeds generally, and then nurture those seeds with water and fertiliser and sunshine so that they can grow.
I’m interested in planting and nurturing the seed of what our legacy to future generations will be. I believe that this seed is one that connects with our hearts and emotions. We all want to be good (that’s my belief) and do good. And we all do the best we can, make the best decisions we can based on the information we have available.
So my job is to make information available; information that will be nurturing to the thought seed “what will my legacy be for future generations? Will I have made a difference to the big social and environmental concerns of our time or will I have lived my life as if I can have whatever I want no matter what the cost?” Read the rest of article here .
Increase your profit programme
One of the steps in this 8 week programme to increase the profitability of your business is working our the ROI on marketing. I thought I’d share here how to do that because many business questions can’t be answered without numbers.
e.g. “I’ve been in the yellow pages for years, should I continue?”
To answer that I need to know whether the yellow pages ad is working for you. So here’s how you know that.
What is the cost per lead (CPL) from the ad? (Total cost divided by the number of leads your ad generated). This is the money spent to get the prospect to raise their hand. So if you spend $100 a month and get 10 people call you or go to your website then your CPL is $10 from that media.
What is the cost per sale (CPS) from the ad? (Total cost divided by the number of clients your marketing exercise generated). This is a truly critical number that tells you the cost of acquiring each new customer.
What is the lifetime customer value (LCV) from the ad? (How much money a client or customer will generate over their lifetime including referral business). This allows you to measure the total value of each new client. This number also helps you get real about the cost of losing each client and helps you determine what you are willing to invest to acquire and keep them.
How do these values compare with other CPL, CPS and LCV from the other means you use to get customers? That’s just the beginning, but if you can’t at least tell me those, I cannot tell you whether to increase, decrease or eliminate your yellow pages ad altogether.
Once you know these numbers, you can then decide on a maximum allowable CPS
and you work at getting as many new ways of bringing in customers as possible to perform at or below that number. Hardly any business owner knows these numbers, although many think they do. Just as a car with no indicators is trouble waiting to happen, so too is a business. If you would like some help working out these numbers in your business please get in touch (click to email me
) its more than likely that you are throwing money down the drain. Or at least into YP’s and certainly not your own pocket.
It’s a very complex world and sometimes hard to know what the right strategic decisions are for our businesses. That’s why we need to keep up to date with what governments are planning. The Trans Pacific Partnership is an important agreement that is being negotiated right now. Without much public debate or consultation. I’m curious as to why it is being done so secretly.
On Monday December 3rd, two of the world's foremost critical voices on international free trade and investment agreements — Lori Wallach and Jane Kelsey — will deliver presentations and take questions on the Trans-Pacific Partnership Agreement (TPPA), a treaty being negotiated between the United States, New Zealand, and 9 other countries on the Asia-Pacific rim.
The TPPA is one the biggest political issues facing New Zealand, but one of the least publicised and least understood.
It involves eleven Asian and Pacific-rim countries — including the United States — and it being negotiated in secret with no possibility of public oversight. If it goes ahead, we risk major damage to our economy, our environment, our health, and the ability to shape our own future.
More information can be found on the It's Our Future
site, together with fact sheets on the TPPA's impact on medicines
and tobacco & alcohol
Join me at the Old Government House Lecture Theatre, University of Auckland, on Monday December 3rd at 6.30pm.
You can register here
What I've been up to
Enjoying myself at the Sustainable City Showcase
That’s me with my wonderful co-presenter Alyssia Hargest
I’m also part of the organising team for a youth leadership camp in January for 18 – 30 year olds. It is for youth by youth (with allied adult support – that’s me!) and will focus on supporting youth who are stepping up so they can become leaders in a just, thriving and sustainable world.
If you know anyone who would be interested in this camp please email me – or jump on the link and register.
GenUp Leadership Training
18 - 21 January, 2013 | Whatipu Lodge Auckland New Zealand
Learn more and apply at: www.generationwakingup.org/newzealand2013
And if you are young or know young people let them know about Powershift. Power Shift will be part conference, part festival, part workshop and part celebration of the power of hundreds of young people to change the world. Are you in?
Manaaki whenua, manaaki tangata, haere whakamua.