Some Important Points to Remember About The Lifetime Value of a Customer

• Retained customers are more profitable. It costs less to sell to them, so they really impact your bottom line.
• Over-the-top customer service almost NEVER fails to pay off, and it improves your customers’ LTVs.
• When you lose a customer, you don’t just lose a sale—you lose his entire LTV—all his future sales and his referrals.
• Improving retention rates dramatically improves LTV.
• A customer’s order quantities and values increase proportionately with retention.
• Retention rates increase year after year. The longer you’ve got a customer, the longer you tend to keep him.
• Repeat business doesn’t simply “speak” volumes about your company; it screams them.

The bottom line: Keep growing and strengthening your customer relationships. It is the surest way to boost your profits.

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Chuck has sold over $559 million in goods and services for himself and his clients. Contact him at chuck@azmkt.org or 480-905-5570 or visit our site www.ArizonaMarketingAssociation.org