LinkedIn | David Asarnow | Life is Precious. Time is Short

Life is precious, and time is short. We never know what tomorrow holds, so why wait to make an impact? After losing my mother-in-law last week, this truth hits harder than ever.

We’re here to change lives, to make a difference. Let’s not waste the time we have on this beautiful earth—start today, and make every moment count.

Digital Marketing Expert

LinkedIn | David Asarnow | Life is Precious. Time is Short

Life is precious, and time is short. We never know what tomorrow holds, so why wait to make an impact? After losing my mother-in-law last week, this truth hits harder than ever.

We’re here to change lives, to make a difference. Let’s not waste the time we have on this beautiful earth—start today, and make every moment count.

Digital Marketing Expert

Rate Your Client Value Meter

You’ve likely heard that it’s less expensive to retain an existing client than it is to acquire a new one, right? 

Believe it or not, it’s a pretty notable difference…

The first sale always takes more time, energy, effort, and investment. Acquiring a new client can cost up to 5X more than retaining or growing an existing one. 

Plus, there’s an increased success rate of selling to a client that has previously bought from you…

A 50% increase! 

So why do so many companies get so laser focused on attracting new clients that they essentially ignore their current clients?   

To understand better, let’s first get crystal clear on what client value is…

Client value is the level of satisfaction your clients feel towards your business. It can be calculated in several ways, but for this particular case let’s think of it as how much are they spending with you year-over-year. 

As far as cost of acquisition vs. the cost of retaining. If you’re always burning through ad revenue and other acquisition channels, it adds up. 

Some of those allocated funds could go to new product development, R&D, better software, incentive bonuses, client appreciation, etc. 

There are a lot of ways to spend money to grow a business. Acquiring clients is obviously a crucial one, but sometimes solely focusing on that directs money away from some other very important activities too.

I knew two partners at a bank in Tampa years ago. One of the partners was always hustling new clients. Because he was spending so much time chasing new business, many of his existing client relationships suffered, and therefore migrated elsewhere.

His partner, a veteran Entrepreneur who had actually built and exited a few companies in his life, had four main clients that he catered to EVERY week.  He rarely got involved with chasing new business. 

To some it would seem pretty static, but year-over-year the veteran Entrepreneur outperformed his partner just by focusing on his core clients, their investments, their needs, their portfolios, etc. 

It may seem counterintuitive to think this way, but good clients that you keep delighting can help create the ultimate advantage for a business. 

Let’s never forget that raving clients turn into cheerleaders. 

Cheerleaders create referrals. 

What is the cost of a referral? 

In most cases, absolutely nothing.

Let’s also not forget what we Entrepreneurs are pretty infamous for…Shiny Object Syndrome. 

My team teases me all the time when I go off on a tangent in the middle of discussing something else on our agenda…“Squirrel!” is jokingly uttered amongst my team.  

Let’s face it. It can be fun to chase the next big client. It can be fun to rebrand and do interesting creative things with your business. It can be fun to be “out in front.” All those are good things (and of course should be done), but to focus on them completely and ignore other core business building principles is NOT going to get you where you REALLY want to go in your business in the time frame you want to get there.

Plus, remember, the constant “chase” can burn out your team (always chasing something “new” and never allowing them to finish what they’ve started). 

Here’s another biggie…Opportunity cost.  The time taken away from your existing clients…Who are primed for repeat purchases and upsells if they trust you. 

All this said, there is something else that matters too.

Your Branding. 

Sometimes people interchange branding for client value, but I’m here to tell you, they are VERY different. 

Here’s a question…Do you solely base every one of your purchasing decisions on the item’s functional value (i.e., what can it do for you)? 

Of course not. 

Products and services are purchased for reasons much more complex than simply because you “need” them.  

As human beings we’re more likely to make our purchase based on the emotions the product or service stirs up inside of us (i.e., what does it make me feel like)? As far as buying decisions are concerned, our logic informs, but our emotions persuade. 

There are three factors that come into play when determining what products and services you purchase and who you trust to deliver them: 

These are Emotional, Functional, and Social components. 

Now, when you position your product or service in relation to each of these components, what you are accomplishing is what us marketers call “branding”.  

Branding allows you to resonate with your target market on a much deeper level. Not only that, statistics have shown time and again that people are willing to pay more for brands they recognize and have positive feelings towards. 

My team works a lot on branding with Entrepreneurs and their organizations, and I’m here to tell you what you stand for does matter. How you present your company to the world matters. How you resonate with your clients and prospective clients matters.

So ask yourself this…If you have the sleekest, most beautiful brand in the world, and you don’t take care of core client needs, how long is your business REALLY going to last? 

Your branding might get them in the door, but it sure as heck won’t keep them there. 

A while back, American Express found 33% of customers will consider switching companies after just one instance of poor customer service.

Your sustainable, competitive advantage is right there in your client value. 

So how do you focus on client value more?

Honestly, it begins with eating your own “dog food”. 

Start by going through some of your processes. 

Look at your client onboarding. Look at your client journey. Look real hard at your value ladder.

Listen to how your clients are communicated to. 

Send emails with surveys and get feedback. 

Send some marketing assets and written communications to friends and family and get their feedback. 

Does it tell a clear story? Is the CTA clear? 

Does it represent you as how you want to be seen?

Working on your own process will identify where the gaps might be. 

Then ask yourself if you’re creating a connection with your clients beyond just the products themselves. Would they have a reason to care about you and what it is you sell? 

Are you telling them cool, interesting, relevant stories? 

Are you greeting them on their birthday? (Seems small, but it can feel huge in your client’s mind). 

Listen to them. Schedule 30-minute conversations with existing clients. Take the time to understand their needs. Put off some internal meetings to understand your clients better.

Don’t stop connecting with the people who have trust in you.

Do you stop focusing on branding?

NO!

Focus on both and realize there’s an interplay between them – branding helps reel them in, and their experience with you helps keep them there. 

No one cares about a funny IG photo when they can’t get their core questions answered; and in this day and age of infinite competition, no one even cares tremendously about category dominance if the customer experience suffers. 

Many giants have been slayed in the past 20 years in part because the upstarts found better ways to engage customers–faster and more intuitive. 

How can WE help you drive client value?

We’ve worked with many clients solely on their client value efforts. 

That means workflows, emails to customers, communication style, offerings, and even the hiring side of the business. Think about it. If you hire C-players, expect they will act like C-Players and treat your clients that way. If you hire the right team members, they will value your clients—creating a symbiotic ecosystem. 

However, most Entrepreneurs I know aren’t very good at hiring for their businesses. They are too busy and focused on other things. Some that are forced to hire their own team members (left to their own devices), really don’t know what to look for (in some cases they don’t know who or what they really need). We can help with that too. 

Both directly and indirectly, having the right team in place will not only help your company grow and scale, your client value will reach a new level. 

To your success, 

David 

P.S. Recruitment and Hiring is the #1 Entrepreneurial Blind Spot which is why most avoid it like the plague… 

Let’s face it, the entire process can be utterly frustrating & time consuming, AND often results in attracting and hiring the WRONG talent for your team and/or business. 

But what if ALL the heavy-lifting was done for you, and you were only handed the highest qualified candidates that checked every box you were looking for? 

Head to this link to see if Nitrogen Hiring Network™ could be your talent recruitment solution. 

P.P.S. Not sure how to find and attract more of your ideal clients? If you have a proven high ticket offer, we know EXACTLY how to fill your pipeline with a constant stream of qualified and highly-motivated leads through our exclusive Leads on Demand™ program.

Simply click this link for more details.

David Asarnow

Belief, commitment, and the wheelchair from Israel

Do you remember your real first sale? You know, that pivotal first sale that ignited your passion for service through sales? 

I remember mine like it was yesterday. It was the beginning of summer vacation and I had just arrived in Florida to visit my grandparents. Ever since I could remember, I would spend every summer break with my grandparents, and when I became old enough (4 years old), I would work right along side my grandfather in his business. 

My grandfather (who sought out to become an Entrepreneur at 50 years old) built what at the time became the largest orthotics, prosthetics and durable medical equipment company in the southeast United States. 

 

My grandfather had me cleaning wheelchairs, hospital beds, and filing. Everything everyone didn’t want to do, I did…Including cleaning the bathrooms. As I approached 12 years old, I started working with customers on the showroom floor.

The summer I was 12, my grandfather told me that he wasn’t going to pay me an hourly wage (like he had done every summer before). He explained by saying… 

“I've got this wheelchair that I imported from Israel and it’s just sitting there… No one has been interested in it. So, anything you sell this wheelchair for, above my cost is what you are going to make this summer. If you’re not able to sell it, you’re not going to make anything.”

Remember, I was 12 years old. I didn't complain. I didn't negotiate, I just knew I needed to sell that wheelchair. 

I thought for a few seconds and then asked him to tell me more about the wheelchair, including why someone would want it.  

That afternoon he took a picture of me in the wheelchair and he created an advertorial to put into the Tampa Bay Times. When it came out, my grandfather got a copy.

Here is the photo of me in the wheelchair

I started showing everyone (and I mean everyone) who walked into that showroom, that wheelchair.

By the end of the summer, I sold that wheelchair.  In fact, I sold it at full price and made over $1600.00. 

At the time, I felt proud of making my grandfather proud of me.  A reward from a job well done.

I didn’t know it then, but there were two lessons I learned that summer from selling that wheelchair. 

The first being… 

Whatever it is you choose to do and whatever you want to achieve IS possible if you’re willing to put your mind to it, and actually believe you will achieve it. 

All too often, our limiting beliefs are exactly what derail us from reaching our goals. In life, in business, in whatever. 

If I would have thought for one moment, “No one wants this wheelchair…It’s big, its ugly and it barely fit through a door.  I’m not going to be able to sell it!”, I would NOT have sold it. That’s the first piece. 

But it’s not just mindset. 

Mindset paired with the commitment and discipline to see it through is how I sold that wheelchair that summer. 

Looking back now, I know those were TWO huge life lessons that helped to forge my path to success in business later in life. 

My grandfather knew it. He knew I had the skill set, (heck he trained me from the age of four), I just didn't realize it at the time. He knew I had the capability before I even knew it myself. He gave me that opportunity to start seeing the potential he saw in me. 

For that, I will be forever grateful. I think about all 

the lessons I learned as a kid working every summer in my grandfather’s business. More importantly, how those life lessons prepared me for what life had in store in the future and how they directly shaped the person I am today. 

Do you remember one of those pivotal moments in your life when everything changed for you? Maybe it was your first sale, maybe it was something different. 

Whatever it was, get a clear picture of it…

What was your mindset? Did you believe with 100% certainty you could make it happen? 

Did you also have the pig-headed discipline to see it through? 

Whenever you find yourself stuck, and unable to reach the finish line, go back to that one pivotal moment, and remember what your mindset and commitment was to make it happen. Now apply that same mindset and commitment to whatever it is you want to accomplish. 

My guess is, you’ll cross that finish line before you know it.

To your success, 

David

P.S. Recruitment and Hiring is the #1 Entrepreneurial Blind Spot which is why most avoid it like the plague… 

Let’s face it, the entire process can be utterly frustrating & time consuming, AND often results in attracting and hiring the WRONG talent for your team and/or business. 

But what if ALL the heavy-lifting was done for you, and you were only handed the highest qualified candidates that checked every box you were looking for? 

Head to this link to see if Nitrogen Hiring Network™ could be your talent recruitment solution. 

P.P.S. Not sure how to find and attract more of your ideal clients? If you have a proven high ticket offer, we know EXACTLY how to fill your pipeline with a constant stream of qualified and highly-motivated leads through our exclusive Leads on Demand™ program.

Business Nitrogen

If you build it, will they come?

One of the biggest misconceptions about lead generation funnels is “Build it and they will come”. 

A lead generation funnel is not a field of dreams…(And this also applies to every other kind of  funnel). 

I am always shocked by how many business owners really struggle to make their funnels profitable. In most cases, they’ve encountered these challenges because they haven’t applied the same marketing principles to their funnel that they normally would apply to any other marketing strategy. 

I see it all the time. They spend all their time, energy, and money adding all the extra bells and whistles to the funnel itself, and they forget about the basic needs that must be met in order to attract and reach the right target avatar. 

Back in the day, I admit, I was guilty of this too! I used to think the more complicated it was, the more successful it would turn out to be. I literally tried to automate every component, and add every “frill” I could, and guess what? 

It was only when we simplified things that we became more and more successful with our funnels.  

Concentrating on 3 KEY components was all we really needed to focus on to create a massively successful funnel. 

I’m going to break down these components for you– What they are, and how to ensure you nail every single one in your lead generation funnel. 

So let’s start with the WHO. 

Who are the most important people in any business?

Your clients, right?  

In order to attain clients, you must first attract prospects. Yes, I know you already know this…

But not just any prospects, you want to target your ideal prospects. These are the type of prospects who are most likely to convert. 

So who is YOUR ideal prospect? 

What research have you done? What type of time, care, and attention have you invested into really understanding who they are, where they are, and what do they really want? 

If you’re not sure who your ideal prospects are, just take a look at who your best clients are right now. 

Your best clients are prime subjects to study when it comes to defining your ideal prospect; as remember, at one time, they once were your prospect. 

Tip: There are a bunch of tools out there these days that are designed to mine your existing client data and uncover data patterns using a process called predictive analytics. Using a combination of stats, machine learning, and data libraries, this state-of-the art process helps you to identify your ideal client profile. 

And once you’ve dialed that in, the really fun part comes next…The HOW. 

HOW to reach them, so you can start driving traffic to your funnel. The fun part of this is, there are endless ways to reach your ideal prospects. You just need to know where they are. Part of knowing where they are is knowing who they are. 

What are their interests? What books do they read? What podcasts do they listen to? What publications might they read or subscribe to? What social media platforms do they visit frequently? The list goes on… 

Most people use paid traffic (display ads, sponsored content, social media ads or paid searches) to drive traffic to their funnel. Organic traffic is also used (it’s usually the result of unpaid search results).  

I can’t stress this enough…The best vehicle for your target audience ALL depends on YOUR audience. 

It’s different for everyone. 

What doesn’t work for someone else may work exceptionally well for you, and vice versa. 

Much of this will be uncovered when you actually take the time, dig in, and really “know” who your ideal audience is. That is really where the real competitive advantage comes into play.

Winning the Traffic Game Pointers:  

1. Don’t put all your eggs in one basket. Start testing multiple vehicles. Don’t just test one vehicle and then throw your hands up and kill the entire funnel just because that one channel didn’t return the results you were hoping it would. You MUST diversify. 

2. Start small tests with every vehicle you start testing and start scaling and creating split tests when you see positive results. This also means knowing exactly where you stand as far as your metrics (CPL, CPA, ROAS, etc.) Ensure you are confident with the stats being reported to you so can make informed data-driven decisions. 

3. Keep an open mind, and start thinking outside the box. We all know Facebook, Google and YouTube are oversaturated. Unless you have a real expert ads team working to make these platforms profitable for you, consider some other alternatives you can capture your market in. 

Here are a few alternatives to just throwing ads up on Google or Facebook: 

1. Existing Blogs– Leverage your existing content! Simply promote your blog posts to your social media audience and provide links to your funnel within them and/or at the end. 

2. LinkedIn–An untapped resource for many B2B establishments. At the very least, add your funnel link to your summary with an attention grabbing headline. 

3. Podcasts–Your own or be a guest on someone else’s that has a large following. Most don’t know this, but approximately 20% of Americans listen to at least one podcast a month. Out of that percentage, over 60% end up purchasing something promoted on the show. Yes, seriously!

4. Direct mail postcards–Another inexpensive way to sift, sort, and screen a list to identify your ideal clients and get them into your funnel. Depending on how many you mail, you can get a standard postcard printed and mailed for as little as $0.31 cents a piece if you go the presorted FC route.

Another huge benefit of knowing exactly who your ideal prospect is comes into play when you are focused on the 2nd key component to creating massively successful funnels…Which I’ll reveal in the next Infinite Business Newsletter. 

Stay tuned!

David

P.S. Recruitment and Hiring is the #1 Entrepreneurial Blind Spot which is why most avoid it like the plague… 

Let’s face it, the entire process can be utterly frustrating & time consuming, AND often results in attracting and hiring the WRONG talent for your team and/or business. 

But what if ALL the heavy-lifting was done for you, and you were only handed the highest qualified candidates that checked every box you were looking for? 

Head to this link to see if Nitrogen Hiring Network™ could be your talent recruitment solution. 

P.P.S. Not sure how to find and attract more of your ideal clients? If you have a proven high ticket offer, we know EXACTLY how to fill your pipeline with a constant stream of qualified and highly-motivated leads through our exclusive Leads on Demand™ program.

Simply click this link for more details.

David Asarnow