It’s pretty crazy just how often the 80/20 applies to our business and life.
You’ll earn 80% of your income from just 20% of your customers.
They’re the ones who buy your monthly continuity and your high ticket offers.
They’re the ones who get the quick results and give you the best testimonials.
On the opposite side, 80% of your problems are caused by 20% of your customers.
One of the secrets of a successful business is tracking your results and figuring out where your best buyers are coming from.
Find a position that attracts the 20% best buyers while repelling the 20% who cause problems.
My friend Dr. Glenn Livingston took the 80/20 rule even further.
What if you went after the 20% of the 20% best customers?
When breaking it down, he found 50% of your profits come from just 5% of the customers.
He called these the hyper-responsives.
These are the customers who attend your high-end events, join your mastermind group, and stay long-term members in your coaching.
I have customers who’ve purchased from me for over 2 decades now.
There are members in the Monthly Mentor Club who’ve been there for over 11 years.
I have several private clients who’ve been with me more than 8 years.
The lifetime value of these customers is huge.
How are you maximizing the value of your 5% hyper-responsive customers?
If all you offer are low cost products, you’re leaving at least HALF your money on the table…and probably a whole lot more.
What else do your best customers want to buy?
Let’s say your front-end offer is a do-it-yourself digital course for under $100.
Would 20% of them be interested in a 6-week group coaching class where you provide training along with personal support to help them achieve their goals?
Perhaps they’re interested in an in-person 2-day intensive or clinic on your topic.
Either of these would sell for a much higher price.
Would 5% of them be interested in private coaching with you…or to work with you in-person?
It’s easy to underestimate what the hungriest buyers in your audience are interested in.
It’s not the course, the live event, or the in-person coaching that’s important to them.
It’s the end results.
And depending on the results you can deliver, the right customer is willing to pay a premium for those results.
This adds up to a lot more than 50% of your net income!
I have clients right now who are willing to lose money on the first sale to a customer.
They have their backend in place, and they know how much each of those customers are worth to them long-term.
It’s the 5% of hyper-responsives who help you grow to the 7-figure levels and beyond.
You’ll discover how to maximize the lifetime value of the 5% of hyper-responsives.
You’ll also discover how to put together systems that stand out as unique and new…even in the most competitive markets.
And you’ll also see my 7 favorite million dollar infoproduct recipes and how to hack each one for maximum income.
The April issue of the Club will go to print-and-mail on April 1st.