by Steve Lett | Feb 1, 2024 | Blog
I have always believed that you put dollars in the bank, not percentages. For example, it is not so much the percent of net income that’s important but rather the total dollars of profit achieved. However, in order to maximize profit dollars, it is important to manage...
by Steve Lett | Feb 1, 2024 | Blog
Catalogers typically traced 80% to 85% of their business to a specific source or key code prior to the Internet just a few short years ago. We knew where the business was coming from and we could make good sense of the results as reported by the source code report. We...
by Steve Lett | Feb 1, 2024 | Blog
Most catalogers cannot breakeven on the initial order mailing to prospects (which is why start-up catalogs have difficulty surviving). They depend on repeat purchases, i.e., turning buyers (one time purchasers) into customers (two and more time purchasers) for...
by Steve Lett | Jan 31, 2024 | Blog
Understanding and applying industry benchmarks is the subject of our column this month. Benchmarking can be described as a set of performance standards for a specific task. Although there are many industry benchmarks which can be used as “standard” for all markets,...
by Steve Lett | Jan 31, 2024 | Blog
Life-Time-Value (L-T-V) is the value of all of the purchases a given customer has made to-date plus the value of the purchases this same customer is likely to make (discounted for present value) over time. L-T-V helps determine how much you can afford to invest for a...
