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The Game with Alex Hormozi
How To Raise Your LTV | Ep 823
Jan 10, 2025
Explore the delicate balance between customer acquisition costs and lifetime value with insightful sales strategies. Discover techniques to enhance customer retention and improve upsell conversion rates. Learn how to boost appointment attendance through personalized reminders while evaluating ownership models. Gain practical advice for navigating the challenges of customer acquisition in a women-focused finance business. Plus, find out about a free Scaling Roadmap to help optimize your business growth.
29:39
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Quick takeaways
- Improving customer experience through structured call sequences and goal-setting discussions can significantly enhance conversion rates and engagement.
- Addressing high cancellation rates with personalized reminders and integrity tie-down questions is essential for maintaining revenue in appointment-based businesses.
Deep dives
Customer Acquisition Challenges
A significant challenge in customer acquisition is the high Customer Acquisition Cost (CAC) to Lifetime Value (LTV) ratio, which indicates inefficiencies in scaling the business. The current CAC stands at $1,500 against an LTV of $2,400, leading to a concerning return on investment. The low Average Order Value (AOV) of approximately $900 and low upsell rate—only 7%—contributes to this issue. Improving these metrics may require transitioning to an in-house sales team for better control and integration during the customer onboarding process.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode