how to determine client lifetime value in five minutes
TRANSCRIPT
How to Determine CLIENT LIFETIME VALUE
in Five Minutes
Presented by
At some point, these questions have likely popped into your head:At some point, these questions have likely popped into your head:
At some point, these questions have likely popped into your head:
• “Am I pricing my services right?”
At some point, these questions have likely popped into your head:
At some point, these questions have likely popped into your head:
• “Am I pricing my services right?”
• “How much time is this client worth?”
At some point, these questions have likely popped into your head:
At some point, these questions have likely popped into your head:
• “Am I pricing my services right?”
• “How much time is this client worth?”
• “How do I know how much my business is really worth?”
At some point, these questions have likely popped into your head:
To answer those questions, you need to know the “Client Lifetime Value” (or CLV) for all of your clients.
At some point, these questions have likely popped into your head:Knowing your Client Lifetime Value will help you:
At some point, these questions have likely popped into your head:
• Know how much to spend to acquire more clients.
Knowing your Client Lifetime Value will help you:
At some point, these questions have likely popped into your head:
• Know how much to spend to acquire more clients.
• Know how much to spend to keep existing clients. (This is critical.)
Knowing your Client Lifetime Value will help you:
At some point, these questions have likely popped into your head:
• Know how much to spend to acquire more clients.
• Know how much to spend to keep existing clients. (This is critical.)
• “See” how much your cleaning business is really worth.
Knowing your Client Lifetime Value will help you:
We have a free calculator that can help you determine your CLV.
But first, you need to take a step back...
We have a free calculator that can help you determine your CLV.
But first, you need to take a step back...
But first, you need to take a step back…
You need to make sure you know your target market very well.
At some point, these questions have likely popped into your head:
• WHO is my ideal client?
You want to sell more work, but you’re not ready to start marketing until you answer these two questions:
At some point, these questions have likely popped into your head:
• WHO is my ideal client?
• WHERE is my ideal client?
You want to sell more work, but you’re not ready to start marketing until you answer these two questions:
is your ideal client?
WHO
is your ideal client?
WHO Start with a mental image.
is your ideal client?
WHO Start with a mental image.
Draw or print out a picture of them.
Write the answers to these questions on the picture:
Write the answers to these questions on the picture:
• How do your services benefit the client?
Write the answers to these questions on the picture:
• How do your services benefit the client?
• What pains are you helping the client get rid of?
Write the answers to these questions on the picture:
• How do your services benefit the client?
• What pains are you helping the client get rid of?
• What makes the client want to buy from YOU?
Humanize this person.
Humanize this person.
Keep the picture in front of you.
Humanize this person.
Keep the picture in front of you.
Focus all of your marketing efforts on this person.
Now, WHERE is your target market?
Find the neighborhoods you most want to work in.
Find the neighborhoods you most want to work in.
• Are they higher income?
Find the neighborhoods you most want to work in.
• Are they higher income?
• Do they have more trees and softscaping, or larger lawns?
Find the neighborhoods you most want to work in.
• Are they higher income?
• Do they have more trees and softscaping, or larger lawns?
• What kind of competition are you looking at in this neighborhood? What can you do that the competition doesn’t do?
Find the neighborhoods you most want to work in.
• Are they higher income?
• Do they have more trees and softscaping, or larger lawns?
• What kind of competition are you looking at in this neighborhood? What can you do that the competition doesn’t do?
• How can you make this neighborhood look better?
Answering those questions will also help you figure out which areas you want to AVOID.
Answering those questions will also help you figure out which areas you want to AVOID.
Also, some neighborhoods are filled with problem clients, or might require a higher pricing for your services because of how the land is laid out.
Answering those questions will also help you figure out which areas you want to AVOID.
Also, some neighborhoods are filled with problem clients, or might require a higher pricing for your services because of how the land is laid out.
Click here to read more about route density.
Next, make sure you’re pricing correctly.
Next, make sure you’re pricing correctly.
Remember: You want the $100 per hour work, not the $10 per hour work.
Next, make sure you’re pricing correctly.
Remember: You want the $100 per hour work, not the $10 per hour work.
Use the Rate Matrix in Service Autopilot to figure out the true cost your jobs.
Next, make sure you’re pricing correctly.
Remember: You want the $100 per hour work, not the $10 per hour work.
Use the Rate Matrix in Service Autopilot to figure out the true cost your jobs.
Click here to watch Chris Sims’ video tutorial.
OK, now back to that FREE Client Lifetime Value
calculator...
Before you start using it, there is one important thing to note:
But first, you need to take a step back...
In some markets, Neighborhood A might have houses that sell for $200k, while Neighborhood B has houses that sell for $700k+.
Before you start using it, there is one important thing to note:
But first, you need to take a step back...
Residents in Neighborhood B are worth more than those in Neighborhood A, so spend more money acquiring/keeping those in Neighborhood B.
Before you start using it, there is one important thing to note:
But first, you need to take a step back...
If you have a big divide like this in your clientele, segment them. Don’t overlap the segments. This way, you’ll keep your data clean and useful.
OK, now… Download your Client Lifetime Value Calculator here.
Go use it now. Write those numbers out and paste them on the wall somewhere you can see them.
The next time you ask, “How do I know if this client will make me money?” you will have a REAL answer.
Service Autopilot offers software specifically built to help field service businesses grow.
Take a virtual tour today!