![]() ![]() Here's how you'll know when you've really embraced this–a good customer at your podiatry practice (or supermarket or tax firm) walks out the door in a huff and you turn to your partner and say, "There goes $74,000. What would happen if you spent 100% of that amount on each of your next ten new customers? That's more money than you have to spend right now, I know that, but what would happen? Imagine how fast you would grow, how quickly the word would spread. Instead of comparing what you invest to the benefit you receive from the first bill, the first visit, the first transaction, it's important to not only recognize but embrace the true lifetime value of one more customer. And yet… how much is she spending on courting, catering to and seducing that new customer? My guess is that $50 feels like a lot to the doc. So, a chiropractor might see a new patient being worth $2,500, easily. ![]() Add to this the additional profit you get from a delighted customer spreading the word–it can easily double or triple the lifetime value. If you ran a business where a customer represented an additional $2,000 in profit, how would you staff? How long would you make someone wait? If staff costs $25 an hour, how long would that extra person take to pay off?įew businesses understand (really understand) just how much a customer is worth. Given the huge gross margins at AT&T and Verizon and the standard two-year contract, I think it's easy to figure on more than $2000 in lifetime value. He gives you all of this cool stuff, connects with you emotionally, and then once in awhile tells you, no mentions, that you have the opportunity to buy his new book, apply for his programme, or sign up for an online course.If you walk into a company-owned cell phone store to sign up for a contract, what are you worth? Seth’s work is a brilliant example of how to give “value in advance”. He assumes a position of power and influence, and just lets you know that he has a new book out. He has a list of his books on the side of the blog, he’s regularly offering the chance to buy one of his courses, and he will outright ask you to do something to support one of his favoured charities.īut he doesn’t sell. What’s new on : Check updates and related news right now. ![]() When Seth is angry about something, that comes across in his writing, and when he thinks something is good, he tells you why it is good, rather than saying “that’s brilliant” or some other superlative. Seth Godins Blog on marketing, tribes and respect. He cares about the people that he is writing the blogs for. You get the feeling that Seth really cares about what is writing about. What’s interesting is that he’s actually putting across some quite complex ideas in these tiny posts. I think that this makes the writing much more accessible and easy to understand. And he writes very short sentences, in fact my English teacher, Mr Trahaerne, would probably say that these weren’t actually sentences at all. Most of Seth’s posts are less than 500 words long. Here are some of my thoughts on this, which are useful for any of us who want to be effective and/or influential online. I was trying to work out why Seth’s writing was so important for me, and the millions of other people. The man is a million times better than me at writing blogs, though I do have more practical “how-to” tips, because that’s the kind of person I am. If you haven’t come across Seth Godin’s work before, I would strongly encourage you to stop reading this and to go and read his work instead. But it still had lots of really relevant tips and useful advice when I was re-reading it 16 years later. I was surprised at just how dated it was, and then noticed that it was published in 1999. I’ve bought and read a number of his books since then, and the other day I started rereading one of his books Permission Marketing. I can’t remember how I found it, somebody probably mentioned it or linked to it. A long long time ago, and when I first set up in business for myself I discovered Seth Godin’s blog. ![]()
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