Ep. 23: How To Increase Your Customer Lifetime Value (CLV)

May 26, 2023

Increasing customer lifetime value (CLV) is key to sustainable profits. Learn why nurturing existing customers is far more cost-effective than seeking new ones. Discover six actionable strategies to boost repeat sales, from loyalty programs to effective email and SMS marketing. Social media also plays a vital role in building trust and enhancing customer engagement. Hear personal anecdotes and useful tools for improving customer retention, plus insights on subscription management challenges in the print-on-demand space.

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Intro

00:00 • 3min

Harnessing Customer Lifetime Value for Profit

02:35 • 2min

Maximizing Customer Lifetime Value

04:53 • 16min

Maximizing Revenue Through Email and SMS Marketing

20:30 • 21min

Maximizing Customer Value Through Social Media

41:40 • 17min

The Power of Customer Loyalty Programs

59:04 • 4min

Cultivating Customer Loyalty

01:03:06 • 7min

Navigating Subscription Management and Increasing CLV

01:09:52 • 2min

"Create lifetime experiences NOT one-time experiences". 100% focus on customer acquisition will drive you out of business. All too often we forget about the huge opportunity right in front of our eyes .. our existing customers. Instead, we focus our attention on acquiring new customers which is 5x more expensive than selling to existing customers😮. Is that not insane? You know we're super excited for this episode because this is where the profits are: "the profits are in the REPEAT SALES"!

In today's episode we explain what is Customer Lifetime Value (CLV), how to calculate it, and why you should really care about it. We also share 6 core strategies to increase customer lifetime value. Strategies that you can take and apply to your business today to start increasing your sales from each customer.

So buckle up and tune in cause this episode is absolutely jam packed with gems, including the most profitable strategies for us and other brands right now, plus favorite tools, some of our rants and more. You'll definitely want to stick around and listen all the way through too because any one of these strategies alone can significantly boost your customer lifetime value.

Whether you're experienced or newer to the apparel space, if you want a sustainable and super profitable business you're going to need to start focusing on getting more out of the customers you have. This is what customer lifetime value is all about.

Let's go! #printondemandplaybook

PLUS, if you’re ready to turn your business into a 6-figure brand, check out Adrian's free 60 minute T-Shirt Legends Academy masterclass at ecomlegendsacademy.com/grow to learn the simple strategy that he uses and you can too.

Links in this episode:

Gelato Print On Demand network, ecomlegendsacademy.com/gelato

[use discount code: PODPLAYBOOK to get 60% off your first order when placed within 72 hours]

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