Ep23- Maximize Your Profitability by Understanding Your Customer's Lifetime Value
2/21/23 - Maximize Your Profitability by Understanding Your Customer’s Lifetime Value
Oftentimes service-based business owners, such as coaches and consultants, fail to consider the long-term value that they can bring to their clients. And the lifetime value of that client to their own business.
It’s a question of strategy.
Your takeaway from this session is to think about the lifetime value of your ideal customer.
And then consider:
What services can you confidently offer to prospective clients - without losing your shirt?
Does it make sense to offer that free 1-hour consultation or drop $300 on that sales dinner?
If the lifetime value of those potential clients is high (along with your ability to close the deal), the cost of time and money there might very well be worth it.
But maybe you shouldn’t be booking all those free consultations for clients that don’t have a high lifetime value.
Only you know best…but you won’t if you don’t give it some thought!
If you think a strategy session may help you, you’re in luck! I’ve opened up my waiting list and will be filling up my calendar starting this April. Get on the waitlist now by using this link: https://www.ericagoode.com/contact
And until next time, may your week be filled with love and profit!
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