The secret to scaling is as simple as being able to pay more than your competitors to acquire new customers.
However, that’s not an easy task spending money to attract new customers can be expensive. and it’s downright dangerous if you don’t have a plan to develop a profitable relationship with them.
Instead of a scattershot approach,
billion-dollar brands think differently about their customer relationships.
they reframed the picture from one-time transactions to ongoing interactions
That way they design and optimize processes that generate more sales, uncover hidden profits and facilitate massive organizational growth.
here’s how you can learn from their model to scale your business even faster:
Would you spend $100 to market someone a $50 product?
If you consider only the surface question, it does not look like an attractive deal, right?
That’s because you’re not viewing an initial sale as the beginning of a potentially long and profitable customer relationship.
you haven’t considered the repeat purchases you could get from each customer and how that will affect future revenue.
big companies instead, leverage CLTV to get the most out of their customer relationships some of them even lose money on their front-end marketing efforts just for the sake of acquiring new customers cause they know they will end up making a lot of money down the line on the back-end paying $100 to get a $50 sale does not sound like an attractive deal at first sight but what if I told you that after 30-60-90 days that $50 customer turns into a $200 customer?
sounds like a better deal right?
and how do you do that, how do you increase your customers’ worth?
you must do specific things to maximize each customer’s CLTV
To make the relationship more profitable, you need to sell more products on an individual-buyer basis.
You have to treat customers well so they’ll stick around longer.
In short, you have to do everything in your power to get more money from the same people.
and one of the best ways to get that done is using the power of email marketing
cause through the use of flows and campaigns
you can make more money out of your current clients at no extra cost
let’s take for example this win-back flow I created for one of my clients that is making 30k/month on autopilot:
after 30 days of someone purchasing from my client’s store I send this bounce-back flow with an offer so good, customers would feel stupid saying no
which ultimately increases CLTV
or take for example
this campaign I sent to a win-back segment offering a complimentary product for purchasers in the last 90 days
all of the examples shown above are email marketing efforts that help our clients increase their CLTV.
having more money in their pockets makes them able to pay higher CPAs to acquire more new customers that will ultimately make them CASH on the back-end (using email marketing)
if you run an eCom brand wouldn’t it be great to have a proven-to-work strategy that increases your CLTV using email marketing?
If that’s you and you’re looking for help with your email and SMS marketing efforts dm me «RETENTION» and let’s talk!