The Game with Alex Hormozi How To Raise Your LTV | Ep 823
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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.
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Improve Upselling
- Bring your sales team in-house to improve your 7% upsell rate.
- Aim for at least 25%, ideally 50%, by integrating upselling into the onboarding process.
Rapid Sales Team Scaling
- Hire a sales director and use multiple recruiting firms to quickly build a sales team.
- Negotiate lower per-head costs by leveraging volume hiring.
Reduce Cancellations
- To reduce appointment cancellations, send manual text reminders 24 hours, the morning of, and 1-1.5 hours before the appointment.
- Offer personalized incentives, like free items, to increase commitment.