Rich Girl Radio
Increasing Your Customer's Lifetime Value To Scale
What is a Customer Lifetime Value?
Let’s look at the numbers…
Let’s say you offer a 90 day 1:1 coaching program for $5,000 or 6 week course for $2,000 and you offer nothing after that then that is your customer lifetime value. $2000 or $5000
But let’s say instead after your work with the 1:1 you put them right into a next level group and you charge $1,000 per month for the year you have now increased your customer’s lifetime value to $14,000, $17,000
Or when you start off working with them long term you are increasing the customer lifetime value making your business more transformational than transactional.
Why do you want to increase your customer’s lifetime value?
Customer acquisition costs are rising - more people vying for customers in the industry
Advertising costs are rising with funnel fatigue
People are smart and savvy than ever online they are discerning and decisive if you are going to do the work to attract a client you want to keep them
You can go deep with less than wide with many
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