VALUESOCIETY

Last post, I talk about Customer Lifetime Value. Now I try to give some reason why it is important to you and your business. Here some reason why you must knowing about your lifetime customer value.

Your Customer Lifetime Value as a brenchmark without which you will be groping in the dark.

So when you understand and know about your Customer Lifetime Value, you can invest more today to reap a much larger profit. And also by knowing your Customer Lifetime Value, you can determine how much time, money and effort that you can afford.

You can refocus your marketing efforts.

You can begin to focus on keeping your existing customers longer and selling them repeatly, you can do it that if you already know the values of your lifetime customers. By keeping them, you don’t have to spend more money to acquiring new customers on your business.
So maximize your profits by start shifting your focus to your Customers Lifetime today.
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Your Customer Lifetime Value was the greatest asset to your business. In Sales and Marketing, so many CEOs and business owners don’t have much clue as to what Customer Lifetime Value is. To most of them, what matters most is to increase revenue by continuously acquiring new one-shot customers.

It’s a sad scenario and also the reality but this is one of the fatal mistakes that many business owners make Let me tell you something: it’ll cost you 5 times more to attract a new customer than it is to bring one of your past customers back to you. Read the rest of this entry »

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