Ep. 217: Andy Cockburn | No Strings Attached: Genuine Referrals as the Secret to Earned Growth
Customer Confidential: Untold Stories of Earned Growth
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The Power of Extended Lifetime Value
The other half of a customer's value is their advocacy. You're not driving the behaviors that are going to bring in those customers who are going to actually go to the effort of telling your friends. We have incredible network charts that you can see under every single business. How many people have introduced and how it extends. I was looking at one yesterday where one customer spent $261 on a luxury fashion brand, which he kicked off a network. There was worth $530,000. She introduced four or five customers. So we would call her a dandelion customer. When you see those customers, you're like, okay, well, hang on, this is really interesting. What are
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