Morning, for our little chat today I want to concentrate on your #1 asset – your client list.
These are the clients you’ve invested valuable time & a significant chunk of money to attract and convert into loyal paying clients.
I assume you know the LCV – lifetime customer value – per client?
The most straightforward model is =
average order value x Average # of orders per year x expected number of years you’ll retain that client for.
This isn’t an exact science because you need to strip out marketing & acquisition costs as I’ve alluded to above, but it’s a start.
Now, look again at that formula.
Average order value x
Average number of orders per year x
Number of years you expect to keep customer
Would you agree you can improve all 3 of those?
Sweat your best asset – your email list of current clients.
Ask them what else you can do to help them?
Then give it to them
If you sell products, introduce affiliate products that compliment your range
If you sell services – productise them by packaging them as a bundle and/or introduce other affiliate products or services
All of this you can do with email of course.
Check out what I do and how it will help you make more money