by Ron Rosenberg
There’s a conversation that takes place far too often with attendees in my live programs. It goes something like this:
Me: What is the purpose of a customer?
Them: To get the sale.
Unfortunately, the truth of the matter is that it’s quite the opposite: the purpose of the sale is to get the customer!
Most people follow a very rudimentary business plan: find a prospect, call the prospect, get the sale, move on to the next one. This sounds curiously like the instructions on the back of the shampoo bottle: wet hair, lather, rinse, repeat.
And it completely ignores one of the most important marketing principles we teach: lifetime value. In fact, when we do the lifetime-value exercise in our live programs, people are frequently shocked by the actual value a single customer, client, or member can bring to their businesses – value well in excess of the initial purchase – sometimes orders of magnitude higher!
So make sure you understand what your customers are worth over your entire expected relationship with them, and do everything you can to maintain a relationship that will let you benefit from this relationship while still delivering outstanding value to them.
Latest posts by Terry Green (see all)
- How To Get The Most Bang For Your Professional Organization Buck! - August 23, 2017
- How To Capitalize on The Power of Explainer Videos! - August 21, 2017
- Connecting on LinkedIn the Right Way and the Wrong Way - August 17, 2017