Customer Lifetime Value is Often a Head Turning Number

What's the Lifetime Value of Your Customers?

In all the years I did SEO within a digital agency or in my own business clients, a discussion of the lifetime value of a customer never came up. Nor did the value of the customer’s they referred.

Now that everyone's trying to make the most of their new "limited traffic" from Google, funnel optimization, remarketing, and lifetime value optimization are big topics. With much better tracking today, they can put a more accurate number on SEO and social derived leads.

It’s important to any business developer or entrepreneur to be able to account for where the revenue came from , which type of clients are best, and which content marketing strategies actually work (or where a bad account came from). Then you can optimize your lead funnel, re-optimize your content strategy and really ramp up profit.

I was just at Bryan Eisenberg’s blog at idealspot.com and found this case study by KissMetrics about the lifetime value of a Starbucks customer. Okay, it's a guess but those lattes do add up, and their customers always drag some unwilling friend to the coffee shop. Just think if your marketing did that!

When you have a good UVP (branding), plus excellent targeting and marketing, great accessibility for customers, and top notch customer service, your customer lifetime value really goes up.

If you’re wondering where to locate your next retail business, you may want to try out idealspot. They use big data to help you determine whether your business will succeed at a particular location.

Any discussion of lifetime value is going to raise budgets, because it becomes blatantly obvious how vital it is to the businesses ongoing well being. I think reviewing your agency's LTV could be very inspiring.

My apologies for the horrible Linkedin image below. See the original here.