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| About John Jantsch |
| John Jantsch is a veteran marketing coach, award winning blogger and author of Duct Tape Marketing - The World's Most Practical Small Business Marketing Guide (foreword by Michael Gerber, author of The E-Myth) published by Thomas Nelson - due out in the fall of 2006 He is the creator of the Duct Tape Marketing small business marketing system and Duct Tape Marketing Authorized Coach Network. His Duct Tape Marketing Blog was chosen as a Forbes favorite for small business and marketing and is a Harvard Business School featured marketing site. His blog was also chosen as "Best Small Business Marketing Blog" in 2004, 2005 and 2006 by the readers of Marketing Sherpa. |
Recent Article:
Lifetime Value of a Customer is Unlimited
- For more on John Jantsch visit www.ducttapemarketing.com
Maybe you’ve heard of this term that some marketers use called “Lifetime Value.” The idea is to calculate what a customer might be worth over the course of doing business with you perhaps for years as opposed to a single transaction. The determination of this number might change the way you look at how much you are willing to invest to get each new customer.
For businesses that can offer a customer multiple transactions over time this is a significant concept. For businesses such home remodelers, who might only work with a customer once in their lifetime, this might not seem to matter.
Here’s my take. The lifetime value of every single customer is unlimited when you factor in a customer’s ability to make referrals. A logically and emotionally satisfied single transaction customer might be a source of business for years. In fact, I’ve personally witnessed a single customer send substantial amounts of business to a customer of mine over a ten year period.
So how can this concept inform your marketing approach? In a way you could take this concept to the extreme and actually give away your products and services to customers, make certain they are thrilled, set the expectation for referrals and never have to go looking for business again. Could you target customers with significant referral capabilities and test this?
Interesting concept, now how can you apply it?
Lifetime Value of a Customer is Unlimited - To learn more about this author, visit John Jantsch's Website.
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Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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