Tracking this information about your customer base is great and learn a few tips to increase the lifetime value (LTV) of your clients. This could add an increase to your profit margin.
Video Transcription
Sunshine: Do you know the lifetime value of your customer base?
Crystal: Welcome to For the Love of Business, I’m Crystal.
Sunshine: And I’m Sunshine. Let’s get to it.
Tudo bem, valor da vida. Sinto que sei para onde você está indo com isso. Mas talvez eu permita que você me explique. Então, eu não coloco o pé de boca novamente.
CRISTAL: parece ótimo. Portanto, pense no valor da vida útil como uma receita total por cliente ou cliente durante a vida útil do seu negócio. Portanto, pense nisso como negócios repetidos pelo tempo que você estiver nos negócios. Então, talvez eles compram uma vez por mês, talvez comprem semanalmente. Se você acha que deseja estar no negócio e possuir seus negócios por mais 30 anos, pode fazer isso por cliente, estimá -lo e fazer as contas de quanto esse total será. Então, você deseja nos dar um passo a passo sobre exatamente como obter esse número mágico de valor vitalício de um cliente.
Sunshine: So, you would factor in how often they purchase from you?
Crystal: Correct. So, maybe they purchase once a month, maybe they purchase weekly.
Sunshine: Okay.
Crystal: For the lifetime of your business, what would that total revenue? If you think you want to be in business, and own your business for 30 more years, you could do that per client, estimate it, and then do the math of how much that total will be.
Sunshine: Okay. So, do you want to give us a step by step on exactly how to get this magic number of lifetime value of a customer.
CRISTAL: Sure, three easy ways to increase your lifetime value of a customer/client. Number one, get to know your clients. Get to know their names, greet them by their names, that will make them feel special and that you care for them.
Number two, critical non-essentials, CNEs. These are small gifts for your customer that are low cost to the business but high value to the client. Now these have nothing to do with your service or product. So, for example, we had someone doing retail online, and they would put in two little tootsie rolls in their packages, surprise. People raved about it.
Number three, get customer feedback and make innovations and changes for that.
Sunshine: What’s your number one takeaway from today’s video? Leave us a comment and thanks for watching.
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