Do You Know This Key Number?
This week has been all about generating additional income
Today I want to talk about a key foundational thing we all need to be aware of
On Monday we had our guest interview, chatting with Sean Salinger about his experiences running workshops
Tuesday, we gave you an extra 4 ways to generate revenue for your business…from merchandise to retreats
Yesterday we shared with you what’s working for DKnine fitness right now
Today we want to talk about key numbers you need to know to bump up the value of that particular client
Whats that? Your life time value of a particular client 🤙🏻
If you’re new to this industry you may not know this until you’ve been running 18 months to 2 years
And what I mean by this is…
When a client jumps on board, how many months are they going to stay with you before they leave
Whatever you average is, try to figure out why they lost their motivation at that point
What made them these clients all stop turning up around a similar time?
Once you know this, build something in to keep them coming around this point, to stay an extra 3-6 months
This will make a huge difference as you won’t have to generate so many new clients
When we run FB Ads we may spend £30-£50 to make one sale
Yes, your sale may be £100 and you make a £50-£30 profit but any extra months they spend with you is more profit
Plus you dont have to spend more money on ads trying to find new clients every month
So, go figure out the average lifetime value of your clients
And try to work on improving this 🙌🏻
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