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Increase Client Value One Sale at a Time

By 2 Comments

Client Lifetime Value or CLV can make or break your business.

Got a Minute for a Quick Biz Tip?CLV  represents the total amount of money on average a customer spends in your business during their entire relationship with you.

A low CLV translates into more time spent finding new clients increasing your acquisition costs.

To secure the highest CLV, look at your product/service and how you package it. Create a sale that is far more than one product.

For example,

Treat clients like a treasured gardenIn my container gardening business, I sold a design and installation and provided them a “free” month of plant maintenance. This led to additional services of biweekly maintenance and seasonal replanting. Additional pots and upgraded plants were gently suggested over time easily raising the CLV over five figures.

The same planning can be applied to any landscaping or gardening business including consulting and coaching practices.

Beyond the Honeymoon Phase

Once you make a sale, the person is now your client and while they know and like you, you’re in the honeymoon phase and you want to work on the trust factor. Wow them with your product and service. Be there for them. Return their phone calls first.

Key to Increasing Client Value

The next step, if you haven’t already done this, is twofold.

First, add them to your “sold clients” email list.

Use your regular biweekly emails to help them have added success and/or enjoyment with what you delivered to them. Now you are building on their trust.

Secondly, nurture the relationship even more. Offering Clients a bouguet of beautiful purple flowers will add to your relationshipThrough your emails segmented to the sold client list, utilize a “Keep in Touch” system where you plant more seeds of ideas, shower them with appreciation to make them feel special.

The goal is to keep your clients coming back for more. More help, more advice and additional service equals a greater lifetime value and more money in your pocket.

This email is part of the “Got a Minute” series focusing on increasing sales with existing clients.

Grab Marylee’s free guide to grow your business 10% by upping the game with your current clients.

About Marylee

I am Marylee Pangman, Business and Accountability Coach. A recognized entrepreneur who has walked in your shoes. I guarantee you will reach your business goals faster than you think through strategic step by step coaching.

Why Listen to me?
I have worn all the hats you wear as a small business owner. I built my first business from a seed of an idea into an award-winning company. With a half-million dollars in annual sales, I positioned my company to sell to my first choice buyer 15 years later, two years ahead of schedule.

I am told I am a great listener. I see the big picture but easily filter all that goes on in an entrepreneur's head and organize it into a manageable work plan.
More recently, I transformed my business in semi-retirement, living on Kauai. Otherwise, I divide my time between business, playing competitive badminton and enjoying island life

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