Treating people like they are the most important thing to your business is common sense. But the majority of business owners very seldom realize that the game of marketing is not only getting customers, but keeping them. It is all about keeping them for life!

Here is a question some of you will find provocative. Do you know what is the residual value of your customer? Yes - residual. Because the value of a good customer - like any other good investment - can grow with time and create a residual income. The life value of your customer is how much money he or she brings to your business in the entire time you run your enterprise. Most people never think about it, did you?

Now, that's a big step up from the original $60 sale - and 30 bucks of profit, don't you agree?

But let's go further. Suppose this customer refers you to five similar customers and each of them refers you to five others as well. How much is that first customer worth to you now?

Acha! - I knew that I will make you think. Perhaps you are even reaching for pen and paper. Now your single customer is worth literally thousands of dollars!

When you realize the earning potential from just one of your customers - you can see why record companies sell you 10 CD's for 1 dollar (you knew that they don't make money on that - right?).

When you know the life value of your customer you can make a decision how much you want to spend to aquire new leads. Sometimes it makes sense to spend considerable amount of cash just to get new customers - especially when you have NO customer base. And if you get the kind of customers that will stay with you for life. One thing is for sure - it always makes sense to spend some effort just to keep your existing customer delighted! Now figure out what is better - spending money trying to get new ones - or picking up the phone and calling some of your past customers?

So... go ahead - pick up that phone!

Of course it is not about seeing your client only in terms of monetary value - but this perspective is very important. It will help you become more generous. Because if you were hesitant to give more just for the pure joy of giving, now think of it as an investment. After all in business even more than in life - what goes around, comes around.

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Wanda Loskot - Success Connection
150 Heron's Run, Suite #124 - Sarasota, FL 34232 - USA
Phone (941) 342-4203 - Fax (240) 358-7445

Professional business coach, author & speaker specializing in Internet marketing.
Business seminars, corporate training and one-on-one coaching
for self-employed sales professionals and small business owners.

wanda@loska.com