One of the most challenging parts of growing a business is acquiring valuable customers who will purchase from you regularly.
Part 3 of our Profit Series gets into the nitty-gritty details of how to increase customer lifetime value. We dive straight into customer-centric versus product-centric businesses and talk about different ways to acquire more high-value customers and share proven tactics that will help you increase customer lifetime value.
- 3:36 The first strategic decision you must make when thinking about customer lifetime value
- 6:38 The best lever to focus on to increase customer lifetime value
- 8:03 The revolutionary changes with Facebook advertising that help you reach your best customers
- 10:05 The importance of product and service offerings that tailor to high-value customers
- 11:49 Are loyalty programs a good way to increase customer lifetime value?
- 13:20 The strategy that led Best Buy to boom while their competitors got wiped out
- 15:15 The value of subscriptions and talking to your best customers
- 17:58 How to build a solid referral strategy
- 20:10 Additional tactics to increase customer lifetime value
Links and Resources: