The total value of every customer is calculated by taking the total gross profit over the lifetime of that customer, less the acquisition and marketing costs over that same period. Once you have calculated this number you then know how much you can spend to acquire that customer.
Why you need to know this
It’s important to understand that a customer who has had a good experience with your company is naturally going to trust your company with other business in the future. You now have a relationship of trust and understanding. You should leverage this trust and as soon as possible make a play for selling them more of your products and services.
The cost of failing to act
After the point at which the relationship with your customer is cemented they will continue to purchase that same product or service from you, but you cannot assume that they will naturally give you more business for other products and services. You have to do the work, get out there and extract more business from them.
So, would you say you are doing that? And do you understand how to do that?
Also be aware that you can set up systems to do this for you which will save you time and money over the long run, and ensure every customer is giving you maximum possible revenue. These systems just require a little work in the beginning to set up.
So how do you learn this skill?
We’ll assist you to develop this critical skillset rapidly and effectively through our Online Course™ Coaching Program. This proven system has worked for thousands of other businesses just like yours.
For a Test Drive please visit https://increaseprofits.net.au/guidedtour