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Understanding and Increasing Your Customer LTV (Lifetime Value): Five Strategies to Make More Money From the Same Customers
Did you know that a big (BIG!) chunk of sales actually comes from existing customers?
How big? Well, I’m so glad you asked.
Think of it this way: research shows that, while most businesses make sales to anywhere between 5-20% of NEW customers, they close deals with 60-70% of EXISTING customers.
This means your likelihood of making a sale is doubled when targeting existing customers compared to acquiring new ones.
This is why your Customer Lifetime Value is so important to figure out and I’m literally giving you the formula to compute it. (It quite possibly may be my favorite math equation to…
The skinny
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