MBA591 4 Ways to Increase Your Customer Lifetime Value

The $100 MBA Show

Omar Zenhom

Marketing, Entrepreneurship, Careers, Business

4.9 • 1.2K Ratings

🗓️ 12 April 2016

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

Acquiring a customer takes time, effort and money. It's harder than most people think. So when you do get a customer, you have to take care of them, you continue to give them value and you do everything you can to keep them happy. A customer who has bought from you already is easier to sell to than someone who has no idea who you are or what your business is about. So in this lesson, let's learn about the 4 different ways we can increase our customer lifetime value so we can keep our customers and our business thriving. Hit play to dig in!

Transcript

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0:15.8	Heyo! Welcome to the $100 MBA show! The place to go to be in the know when it comes to business building with our daily 10 minute business lessons for the real world.
0:19.9	I'm your host, your coach, your teacher, Omar is at home.
0:23.4	I'm also the co-founder of the $100 MBA,
0:26.4	a complete business training and community online.
0:29.6	If you're just getting started and you want to make sure you nail your business idea.
0:33.4	Check out our free course on idea validation.
0:36.4	It's a seven part video course completely for free.
0:39.4	Just go to 100MBA.net.net.net.N.N.
0:45.0	In today's lesson, you will learn four ways to increase your customer lifetime value.
0:50.4	It costs a lot of money and a lot of time to acquire a customer.
0:55.0	You need to make sure that you make the most of it.
0:58.0	Now I'm not saying this in a sinister way.
1:00.0	Like you've got to milk your customer for every dollar they have.
1:03.0	No, of course not.
1:04.0	But most businesses don't offer enough ways for others to get value from you.
1:09.0	There are customers that love you and would like to get more from you.
1:13.0	But you're simply not offering it.
1:15.0	There's not an easy way to get more from you.
1:18.0	And it's a lot easier to sell to somebody who's happy with your product
1:22.0	that is already a customer that's already
1:24.3	converted it's a lot easier to convince them to buy something than somebody
1:28.5	that has no idea who you are. This is why customer lifetime value is so important.
	...

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