This Quarter’s “Letter from the CEO” is going to be a little different, friend…

I’ve been talking to a lot of business owners who currently feel overwhelmed.

I get it, times are tough, and achieving sales is harder than it’s EVER been.

On top of that, you’re stuck in tactical hell…

You don’t know what really works when it comes to ecommerce and brick-and-mortar growth. So, you try ten things at once and move one inch in ten directions.

You feel stuck, confused, and maybe a bit of self-doubt too.

Trust me, I have been there – and a lot longer than I wanted.

So, I wanted to share what I do when I feel this way

Forgive the cliché… But, I just go back to basics. But it’s not what you think…

I focus on three things, and three things only!

By doing this we have been able to grow year over year in double digits since we started.

If your actions, meetings, to-do lists, phone calls, and texts are not centered around these. Don’t do it! Everything else is a distraction.

So, what are these 3 things?

1. Customers (C)
2. Frequency (F)
3. Average Order Value (AOV)

C x F x AOV = Sales

Let me explain…

You MUST have a process for:

1. Increasing Customers

Not having the right PROCESS in place for consistently acquiring customers is frustrating & not a good game plan!

Without a clear understanding of the target audience, an effective strategy, and the ability to analyze and refine results, you will struggle to achieve your customer acquisition goals.

You need a process that involves multiple digital channels, where success requires a deep understanding of the customer journey, data analysis, and conversion optimization.

When the right process is in place, you can optimize your marketing efforts for maximum ROI and achieve your customer acquisition goals.

2. Increasing Frequency

Churn is the killer of businesses.

Increasing customer frequency and reducing churn requires a well-defined process, including understanding customer needs, identifying pain points, analyzing data, implementing targeted solutions, and constantly monitoring and adjusting the process.

We’ve learned with the right process you can foster stronger customer relationships, boost retention rates, and drive long-term growth and success.

3. Increasing AOV (Average Order Value)

Increasing the average order value (AOV) is a crucial component of growing revenue for any business, and it requires a strategic process to achieve success.

Our process involves analyzing customer behavior and purchase data, identifying opportunities for upselling and cross-selling, creating targeted promotions, pricing tiers, and product bundles, and continuously monitoring and adjusting the process based on results.

There are only 2 ways to increase AOV: Sell more or sell better.

• If you focus on selling more than one of anything you will increase your AOV.
• If you focus on selling better quality at a higher price, hence upselling, you will increase your AOV.

By having a well-defined process in place for increasing AOV, you can maximize revenue, improve customer satisfaction, and ultimately drive long-term growth and success.

I know these are very general concepts. But when I get stuck, I always revert back to these three pillars.

Remember: C x F x AOV = Sales.

It has worked for me, and I hope it works for you too!

Best,
Tony
CEO, Wholesale Jewelry Website

P.S. My Marketing team is at your disposal. If you’re still feeling stuck or just want to chat about new ideas, just let me know and I’ll get them to reach out and schedule some time to talk!