The fastest way to develop customers is with conversion thinking. Based on the gross profit of a single sale and the turnover rate, we can calculate the cost of attracting target customers and use this cost as a reference to select and create a product that will attract customers to the store.
What does it mean?
Say, your product, you can get $1,000 profit for selling one.
Then you split this $1,000 profit, say into $50 each, then you can divide it into 20 units.
Find the gift related to your product, the cost of $50 (you can package a gift worth $100 or $200)
Give these 20 gifts to your ” prospective customers “.
Suppose one of these 20 ” prospective customers ” buys your product, then, is it already ” no loss “?
If your turnover rate can reach 50%, for that 20 prospective customers, how many can you close,10,right?
According to what I just said, 1 out of 20 closed is already not a loss, now 10 out of 20 closed, you make a lot of money,right?
If you figure out the above, you will really learn to develop new customers by cost converting method. Then you dare to give away for free, and you will exceed other businesses at the starting point.
Only when you know conversion thinking, will you understand why some vendors seem to be doing money-losing business. In fact, they are the real business men, the most effective and fastest strategy and means to get customers is by using conversion thinking.
You will never be short of customers in any business, and it is also the magic weapon to cut into the market quickly for any product as long as you learn the conversation thinking.