Make Your Revenue Explode! Focus On Client Lifetime Value | Do This Sell More 25
Written by Dave Lorenzo on September 12, 2019 / Inside BS Podcast
Your current clients are the key to growing your revenue. In this show, I talk about recognizing the importance of customer lifetime value – how your customers help you grow over the long term.
There are three ways to bring in revenue and grow client lifetime value: find new customers, increase purchasing frequency, and increase money spent per transaction.
This is where the importance of customer value comes in. Your client relationships are valuable because you can leverage them to build revenue in all three ways.
How do your current clients help you find new customers?
– They refer you to others.
– They tell you what they read and watch, so you can create similar content.
– They lead you to their organizations, where you can get involved by sponsoring or speaking at events.
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Acknowledge the importance of customer lifetime value. Build strong relationships with your clients – educate them, solve their problems, and connect with them frequently. In return, your existing clients will help you find new clients.
Another way to grow revenue is through repeat sales:
– Communicate more often, in various ways.
– Deliver new information.
– Solve new, industry-wide problems.
– Notice upcoming industry trends and prepare for them.
– Develop a recurring offer.
– Set up auto orders based on industry best practices.
The importance of customer value is also clear when it comes to high-dollar transactions:
– Always offer options with different prices.
– Get testimonials from high-spending, satisfied customers.
– Provide a competitor analysis to show how your offer is superior.
– Demonstrate a high return on investment.
– Ask your clients to invest more in you.
Are you starting to understand the importance of customer value for growing your business? If you are interested in growing client lifetime value and for more information on leveraging your current client relationships, give me a call: 888.444.5150
Here is the podcast: