Download - Owning a wine shop in Paris: CLV + CRV
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Owning a wine shop in Paris:
CLV+
CRV
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The Customer Lifetime Value:
CLV
The Customer Referral Value:
CRV
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CUSTOMER 1Radu:
Champion
+ Purchases+ WOM
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CUSTOMER 2Sara:
Affluent
+ Purchases- WOM
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- Purchases+ WOM
CUSTOMER 3Diana:
Advocate
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CUSTOMER 4Marig:Miser
- Purchases- WOM
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Advocates
Good CRL
Needs to be maintained
Bad CLV
Needs to be improved
Up-selling, cross-selling, reinforcing buying
Offering discounts for related product, Contracts
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Affluents
Good CLVNeeds to be maintained
Bad CRV
Needs to be improved
Encouraging them to make more references
Offering discounts if they bring some friends
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Misers
Bad RCL
Needs to be improved
Encouraging them to make more references
Offering discounts if they bring some friends
Bad CLV
Needs to be improved
Up-selling, cross-selling, reinforcing buying
Offering discounts for related product, Contracts
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Let’s be critical
Attracting new customer – 50$/customerDiscount for a contract – 200$/yearDiscount for a friend – 10$/friendAverage price of a bottle – 15$
Type of a customer CLV/year CRV/year In total
Champion 50 bottles*15$-50$=700$
10cust-2cust*12bottles=96b*15$+8*50=1840
2540$
Affluent 50 bottles*15$-50$=700$
1cust*15$+50$=75$
775$
Advocate 12 bottles*15$-50$=130$
12cust-2cust*12bottles*15$=1800+10*50$=2300
2430$
Misers 12 bottles*15$-50$=130$
1cust*15$+50$=195$
325$
Overall benefits 6070$
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Type of a customer Before Calculations After
Champion 2540$ +0 2540$
Affluent 700$ 8cust*180$-8*10$+8*50$=1040$
1815$
Advocate 2300$ 50*15$-200$=500$
2800$
Misers 195$ *Affluent 50*15$-200=500$ 695$
130$ *Advocate 10cust*12b*15$=1800-10cust*10$=700$+10*50=1200$
1330$
Overall benefits 6070$ 7850$/8485$
Let’s be critical again
Attracting new customer – 50$/customerDiscount for a contract – 200$/yearDiscount for a friend – 10$/friendAverage price of a bottle – 15$
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• Relationship• After sales
5 TIPS FOR SUCCESSFUL CRV
Tip #1: Timing
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WINBonuses, incentives
WINNew clients
Tip # 2Twice the
benefit
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Tip # 3Treasures
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Asking for a referralA long processGet information from new clients
Tip # 4Tracking
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Tip # 5Thanks
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Conclusions
68% 33%
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ConclusionsCOMPETITION
ATTACHMENT
HARD TO TRACK
REFER AGAIN?