Yesterday in Part One (link in comments) I showed you the formula for working out what your LCV – lifetime customer value – is.
We then broke down that formula:
Average order value x
Average number of orders per year x
Average number of years you expect to retain that client for.
If you also recall, last week I wrote about the only 3 ways to grow your business
Increase the order value of each client
Increase the order frequency of each client
Increase the number of clients
Some parallels there no?
Here comes the plug…
You can achieve #1 & #2 in both cases with a series of warm emails.
So now you have a double whammy don’t you?
You’ve increased the LCV of your clients and
You’ve grown your business (in part but I’ll come on to that next week)
Funny enough, I write emails for a living. Warm emails that include a call to action so you can measure the response accurately and know how effective those emails have been.
In the comments below is a link to 3 types of email sequences you can choose from. Unless you’re selling penny sweets you can’t lose…
See you tomorrow for #FluffyFriday