How Frequently Do You Sell to Your Audience?
So speaking of list, the next factor that determines your revenue is how frequently do you sell to your audience so your goal annual income is going to fall somewhere between your production ceiling on your audience value? So we looked at I've already for on tiffany. What will you say when you say your production ceiling was maybe two hundred k it with your new product line? And what did we say your audience value was right now somewhere in like seven thousand and then like seven thousand nineteen twenty seven? So yeah, we'll round you will say thirty k, you've got a few social media followers, teo and we'll say thirty ks in your retail audience, so you've got a pretty big gap between where you are in terms of audience size and what your production ceiling is, so where you kind of fall so where you get to decide because here's, the good news where you start the year with your audience is not where you have to end the year with your audience. So where you fall in the kind of range betwe...
en the two between your current audience value and your production ceiling depends on your promotional activities and your marketing budget because you're a list is on ly valuable if you're making them an offer on a regular basis and the more often you could make great offers to your list a lot of times the more value you can get out of them that's actually why we didn't entire class on product line development because if you have new products to offer your list it's easier to get your existing customers to spend more so there are a few ways of making an offer for your list that's launching a new product or collection running a sale on your online store, sending a postcard or a line sheet to a store with a call to action we assume that our wholesale clients are like always thinking about us about your product sells out a lot of times they forget about you so a lot of times generating revenue is easy see as sending them a postcard or a line sheet or calling or emailing tour a follow up those are all ways to make an offer exhibiting at a trade show and exhibiting at a retail show so these air always that you can generate revenue and what I like about thinking this way is that puts you in the driver's seat of your revenue so you're not now we're not saying my revenue is controlled by waiting around to see who shows up in my etc shop my revenue is controllable because strategically throughout the year I am going to do these activities now if your audience value is very low compared to your productions dealing you're going to have to pair these activities with list growth but this is going to help us maximize the value of our list so our exercises that we want to create a promotional calendar for the year and I'm going to show you my promotional calendar for at least the first part of the year because this is really how I plan my revenue for the year even though I have old sales data to look at and that informs a lot of what I do, it informs the value that I think is in my email list I sit down and I plan my promotions and that's what drives my revenue so here's my retail promotional calendar this is mostly what I'm doing online, but I through and I think I have one craft show that I'm doing so I threw that on there too, so I have very strategically planned out some new product releases, so I've got a new product release I'm actually theming so I'm doing a lot of releases this year built around my contra collection and since they're extensions rather than new products, I'm theming them we're doing oval obsession tiny but tough long and lovely I'm having fun with this one, right? So this is how we're making these a note of that so I planned out kind of what I'm doing things I do a sample sale, I do a birthday sale, so I'm making this promotional calendar and you'll see as we go get further along in the year I lose some specific dates right right now I'm pretty sure there's probably going to be a new ring release in june I don't know yet well, you know we're kind of going to see what happens but I leave have been kind of target months where I know what I want to d'oh then I'm going to do the same thing with my wholesale so I'm going to do a post card mailing I'm going to email my existing stores I've got a trade show scheduled after the show follow up a catalog mailing on whoever I didn't see kind of start to get in the summer post card catalog trade show email stores so I'm planning out my promotional calendar because I want to maximize the audience value of my list now how many of you guys this idea of this running promotions making offers promotional counter thing is completely new most of you write so you're probably not going to start nor did I start with a promotional calendar looked like this the first time that I even tried this it's because I sort of accidentally ran a birthday sale and hit on an anticipation builds cell system that I realised worked really well and I've been repeating it ever since and actually teaching it ever since but I did not start with this kind of strategy I realized over time its value to me to my business, I'm now doing more of it. But so, if you're new to this aim for two to four times per year, just a couple of key promotions to start. If you haven't been doing it at all. It's going to make an impact on your business, especially if you're pairing it with list growth.