How Much is Each Customer Worth to You?

GET READY TO DOUBLE!
 
Today, we will turn up the heat on helping you double your business in 7 months and 7 days, by leveraging the powerful concept of the Lifetime Value of Your Customer
 
Master this concept and you will dramatically separate yourself from your competition!
 
“The plans of the diligent lead to profit as surely as haste leads to poverty.”  Proverbs 21:5
 
Calculate & Leverage the Lifetime Value of Your Customers
Yesterday, you were asked to do some homework - specifically to do a little research, a little math, and come up with answers to 5 questions about your customers.  That data will be needed to plug into the table below:
 
Here is what each customer is worth to you!

Are you beginning to see a whole new way of thinking about your customer and your business?  In looking at the table, I hope you are grasping the significance of what you now know - and oh, by the way, don’t use this exercise to beat yourself up for low numbers that you may have put in the table.  Rather, use this exercise for revelation as to where you are, and what is now possible.  Ignorance is only negative if you don’t learn and change once you gain greater knowledge.
 
Anyway, back to the power of this table.  Consider if you increase the average sale (A), with the lifetime value concept you gain the benefit of compound growth!  And when you increase the frequency of purchase (B) it too will be compounded.  We will demonstrate this for you tomorrow - in the meantime, complete your table to reflect what your current business lifetime value of your average satisfied customer is.
 
Turn Your Customers into Buying Machines
If you get your average customer to buy from you more often, the lifetime value of your customers will increase — and that means more profit for you!  One way to get them to buy from you again is to simply write a letter or send an email to your customers and ask them to.  This simple strategy is one of the fastest and most reliable ways to get repeat sales from your existing customers.
 
All you have to do is ask!  Your customers want solutions, and your products and services provide these solutions - right?  There is no law which says you have to wait until they come to you with a problem before you offer them a solution.  And when you do write to them and offer solutions, they will respond.  In fact, you will be amazed at how well they respond.
 
To implement this step, however, does require that you know their names, addresses, email, and phone numbers.  So, if you haven’t been capturing this vital information - start right away!
 
Remember, your customer base is the most valuable asset that your business has — it is more valuable that your cash in the bank, your inventory, your patents, trademarks, even real estate.
 
**Ask Your Customers to Buy From You Again - They Appreciate Solution Providers!**
DAILY PRAYER
Father, Your Son provided the model for us to follow as recorded in Luke 11:9 “So I say to you, ask, and it will be given to you, seek, and you will find, knock, and it will be opened to you.”  Check our motive for asking, seeking and knocking, convict our heart if we have selfish motives, help us to have the heart of a servant - to help others, to add more value to others, to solve problems for others.  Also, help us rest easy with the blessings that come in return.  In Jesus name, Amen.
 
Are you getting excited at the prospect of leveraging the lifetime value of your customer to help you double your business?  Tomorrow we will continue to build on this most powerful tool in your marketing arsenal.
 
May I ask you - please pass this message onto those in your sphere of influence that could benefit - perhaps with a little note of testimony from you.  It is simple, just use the “Forward email” below this box - share with all your friends!  Thank you.
 
Grace and peace multiplied to you,

Michael Stay