It is important to understand the difference between a client, a qualified prospect, a lead, and a suspect. There is also a lot of marketing math, ratios, and theory that comes behind that understanding. Even sophisticated companies make simple mistakes when it comes to knowing who their clients are and understanding the relative values of various types of clients. For instance, if one category of clients has an average lifetime value of $100,000 and another category has an average value of $5,000, then it is helpful not only to know that but to back it through all your marketing channels. Meaning that you consider the costs of your marketing efforts
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