From the Las Vegas Strip to rock-paper-scissors, zero-sum games are often alluring and entertaining. They’re also a lousy strategy in small business marketing.
Yet, why do so many business owners play this game? Rather than carefully strategizing a plan to get new customers, they opt for throwing spaghetti on the wall and hoping something sticks.
But marketing doesn’t have to be this kind of a crap-shoot. Enter the Rule of 3.
Watch my short video and learn how this simple standard preserves profit and maintains marketing alike.
Action Steps:
- Consider your next marketing plan. Is it fulfilling the Rule of 3? Is it reasonable to expect that for every $1 you spend you’ll get $3 to your bottom line?
- Comment and tell me about YOUR most recent effort in small business marketing. What kind of return did you get?
Principles:
- Spending small business marketing money just to make the same money back kills profit and is unnecessarily risky.
- The customer acquisition budget (CAB) is the lifetime bottom-line value of a customer divided by 3.
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