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