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24% more revenue? Do this. (January 24, 2025)

24% more revenue? Do this. (January 24, 2025)

Dave Lavinsky
January 24, 2025

Here’s what we will cover today:

Discover how upselling can significantly increase your profits by offering additional value to your customers
Get a step-by-step guide to creating an effective marketing plan in just one day
Learn about the top 100 side hustle ideas and the decline of live streamer mega deals

Quote of the Day

"Many great ideas go unexecuted, and many great executioners are without ideas. One without the other is worthless.”
~Tim Blixseth

Today’s Tip

Today I’m continuing with the interesting marketing lessons from my broken dishwasher.

We’re up to Step 5 of the process…

Step 5: I bought the dishwasher. I paid extra for installation and haul-away of my old dishwasher and bought a 3-year warranty.

Lesson: These add-on sales increased the total sales price by 24% and must have increased their profits by a lot too. And these upsells were things that I wanted. The lesson is that you must upsell your customers by offering them items that will better satisfy them.

Final lesson: My wife and I don’t represent every shopper. Not every shopper goes online to try to solve a problem themselves or to compare products. Not every shopper doesn’t care about certain product features. And not every shopper is going to take your upsells.

But, make sure you figure out your main customer segments, think about how they will buy and make decisions, and create sales and marketing strategies that are in line with this.

Today’s Resource

Want More Customers? (Do this now…)

If you want more customers, you need a better marketing plan.

A better marketing plan will focus your efforts on the activities that will actually work… so you generate more leads and customers and increase your sales and profits.

The problem is this -- creating a marketing plan from scratch could take you 100+ hours -- and you don’t have time for that!

And I’ve got good news today…

Using my proven marketing plan template, you can create an effective marketing plan in just 1 day!

Trivia

Today’s Question: The Alto computer released in 1973 was the first to feature a GUI (graphical user interface). Although Apple's far more successful Macintosh system brought the GUI to wider acclaim, what was the company that released the Alto?

Previous Question: He worked as a Consultant, and Project Leader at BCG between 1979 and 1982 before leaving to start his own company. He eventually entered academia as a professor at Harvard Business School. His theory of "disruptive innovation", introduced in his book The Innovator's Dilemma, has been called the most influential business idea of the early 21st century. Who?

Previous Answer: Clayten Christensen

Clayton M. Christensen is best known for his theory of “disruptive innovation,” introduced in his book “The Innovator’s Dilemma.” In which Christensen demonstrates how successful companies can do everything “right” and yet still lose their market leadership, as new competitors rise and take over the market.