Business is about two things: signing new customers and keeping existing ones.
OK, so maybe it’s about a little more than just that. Sure, hitting your numbers every month is great.
However, you need to make sure that your current lead marketing is good enough to attract customers that will stay with you for years to come.
In this post, we’re telling you everything you need to know about why a strong lead marketing strategy impacts the lifetime value of your customers.
What Is Customer Lifetime Value?
Essentially, customer lifetime value is how much a customer spends on your company from their first transaction to their final one.
If you’re looking for a quick way to estimate a customer’s lifetime value, you can multiply your average retention rate by the value of your average sale by the number of sales a customer is likely to make.
Why Does It Matter?
A lead generation that’s geared towards attracting long-term customers is smart — not to mention cost-effective — for a number of reasons.
First of all, it will help to connect you to companies with bigger budgets.
It will also send a clear message that you value customer loyalty. It’s no secret that customers who feel valued will make larger and more frequent purchases. When creating your lead generation strategy, focus on the possibility of upselling your customers.
They’re also much more likely to give you referrals.
How Should My Lead Marketing Reflect Customer Lifetime Value?
You probably already know that it’s between 4-10 times more expensive to sign a new customer than to keep the ones you already have.
So, your marketing strategy needs to attract customers that will have a high lifetime value. You can’t do that if you’re using the same tired techniques that everyone else is.
You need to create lead marketing campaigns that are centered around your target market. Ask yourself how what you offer will solve their problems, make their lives easier, and help them reach their goals?
Then, answer how can you do that better than your competition.
In your lead marketing strategies, you need to make sure you stress the value of a long-term relationship with your company. You need to reassure your potential customers that working with you over many years will save them money and stress. That it will keep them ahead of the curve — for years to come.
As such, you’ll also need to stress that you will continue to evolve with their needs, as well as the overall conditions of your industry.
Where Can You Get the Help You Need?
Of course, creating a successful lead generation strategy that will result in loyal customers isn’t easy. It’s also time-consuming. It requires constant, rigorous testing, tiny tweaks, and continual analysis.
But with everything you have to do in a day, you won’t always have the time to track down these lifelong customers and make them come to you.
Luckily, we have the professional services you need, from lead generation to website design.
Get in touch with us today to start connecting with the market you deserve.