t&c meetup #9: how to increase customer lifetime value
TRANSCRIPT
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How To Increase Customer Lifetime Value
by Ewa Wysocka & Samuel P.N. Cook
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1. STRATEGY fundamentals
2. FUNNEL psychology and mapping
3. EXECUTION process
4. Defining your NUMBERS (KPI’s)
5. CONTENT integration
6. PAID TRAFFIC integration
7. OPTIMISATION
8. CUSTOMER SERVICE process (increasing
Customer Lifetime Value)
Our 8-Step Digital Marketing Formula
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LTV > 3 x CAC
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SCENARIO #1:
LTV <= CAC
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SCENARIO #2:
CAC < LTV < 2 x CAC
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SCENARIO #3:
2 x CAC < LTV < 3 x CAC
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Brendon Burchard
Optimisation Technique that is always safe to use:
Increase your Customer Lifetime Value (LTV)!
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2 ways of maximising your Customer Lifetime
Value:
1. Product Roadmap That
Maximizes Sales
2. Awesome Pre-
Purchase and Post
Purchase Support
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Product Roadmap that maximizes sales:
Brendon Burchard
1. Front End => your main product
2. Back End or Upsell =>first upsell should be cheaper
than Front End, second more expensive
3. “Foot in The Door” or Downsell => when your client
is not ready to buy yet have a cheaper alternative!
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10 Rules of Awesome Support
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1. Pay Attention to WHO you hire
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2. Identify which funnel stage the respondent is at and adjust your message!
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3. Make Yourself Accessible:
⭑ Offer phone number, chat box
and email address visible on
every crucial step of your
purchasing cycle (especially
shopping cart).
⭑ Respond to messages within 24
hours!
⭑ Be available on all possible
channels like Facebook, Twitter
etc.
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4. Create a Support System
Brendon Burchard
⭑ Pick a System Designed for
Support (i.e. ZenDesk, etc.)
⭑ Integrate Website Chat
⭑ Integrate Social Channels
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5. Create Communication Frameworks
⭑ Make & Update an FAQ
Library
⭑ Follow-up Emails
⭑ LiveChat Templates (per
page)
⭑ Phone Call Framework
⭑ NOTE: Train Agents to
thank and support
customer.
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6. React to email unsubscribes
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7. Have simple and clear refund policy
⭑ Give even better terms than
the local laws force you to
give.
⭑ Offer a great refund rate (most
people are honest)
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8. Use KPI’s for Customer Support team
⭑ Number of Resolved and
Active Issues
⭑ Average Resolution Time
⭑ Customer Satisfaction Rating
and Net Promoter Score
⭑ Refund Saved Rate
⭑ Customer Retention Rate
⭑ Number of Closed Sales
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8*. Zappos’ KPI’s for Customer Support team
⭑ Did the agent try twice to make a
personal emotional connection
(PEC)?
⭑ Did they keep the rapport going
after the customer responded to
their attempt?
⭑ Did they address unstated needs?
⭑ Did they provide a “wow
experience?”
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9. Use “Cart Abandonment” emails and calls!
⭑ Make them helpful and
personal
⭑ Automate only if you have
a massive volume!
⭑ Best just call someone who
abandoned the cart and
assist
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10. Have customer onboarding & delight process in place
Brendon Burchard
⭑ Not only if you are a SaaS and
B2B service provider!
⭑ Just call your new customers,
they will be surprised!
⭑ Create onboarding email +
content sequence.
⭑ Wow your customers with
unexpected gifts.
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2 Day conference in November...
Until then => follow us on facebook.com/tcmeetup/
SAM! IT’S THE LAST ONE!!!!
YES... BUT IT’S NOT THE END...