The Importance of Customer Lifetime Value

As much profit out of your existing customers as you possibly can.

If you want to scale to 7-figures per year then you’ve gotta realise that the real money will be made in re-targeting and increasing your customer lifetime value (CLV). Which means…

…once someone has purchased from you, you CAN NOT forget about them!

These guys are now your customers. They’ve trusted you with their hard earned cash. And it’s now your job to ensure they keep coming back for more.

I hear you though…

”How can we do this if the sale has been made via Amazon. We can’t get their details?”

Well you can. You’ve just gotta be smart.

And that starts by planting a QR code on your packaging or product insert that links to your chatbot, which opens up dialogue with the customer.

Now ‘conversational commerce’ is insanely important in 2020…

Your customers want to speak to someone if they have an issue, and chatbots allow you to achieve this. Plus it’ll cost you £10 a month. So dirt cheap.

Once they’re in your chatbot flow you can then cross sell / up sell / down sell a variety of complimentary products. 

Which is where the REAL PROFIT lies, because you don’t need to go out and spend a fortune on ads to acquire a new customer.

Hence why 20-40% of savvy e-com brands sales come from repeat purchases. They know the importance of implementing this strategy and increasing the customer LTV.

If you’ve got a consumable product you can even fire them back to Amazon to set up a subscribe and save.

And because you knew when they ordered (the date they joined your chatbot flow) you can even send them a reminder if a re-order is due.

Smart strategies like this executed with military precision are what separate the 7-figure Amazon brands from you average Tom, Dick and Harry.

You just need to have the skills and blueprints necessary to put it all into action.