What if when a customer buys your product you lose money
By George Barnett Reid 👀 · June 14, 2020 · Curated by George's Blog
What if when a customer buys your product you lose money
What if I told you…you can spend all of your profit on advertising…
…so when a customer purchases your product…
…you make no profit.
Sound scary?
Well what if I now said
You're going to make a loss, from every purchase
Terrifying?
But now what if I said
They'll be back next month
Then the month after
And the month after again
Would you still be terrified of the negative profit you had for the first sale?
Or would you be thinking
How can I lose more money upfront
This is only possible if you have one HUGE thing
Something that Amazon, more than anyone…
…makes all their decisions on
DATA
Your business will run completely differently
If you have data
If you know exactly how long it takes for a customer to flip from
unprofitable to profitable
Then you can spend heaps of cash on acquiring customers
You can outspend your competition by a country mile
You'll be playing a completely different game to them
And you will be winning.
#BuildTheMoat #Amazon #ItsAlwaysDayOne
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