Big Ask Question of the Day
Big Ask Question of the Day

Episode 148 · 2 weeks ago

It's time to raise the roof

ABOUT THIS EPISODE

Today's question is...

How can I double the lifetime value of my customers?

For more great questions, download my 50 favorite questions at https://youcantjuststop.com/questions

It's time for you can't just stop bigask question of the day. Welcome to you can't just stop the place for quietlystubborn entrepreneurs with big goals and Greens after encountering hundreds of highachieving athletes, entrepreneurs and world changers. I've discovered thatmany times their impact comes from the questions they ask as much as theactions they take. That's why I invite you to answer a question each in everyday to reach your don and now for today's question: How can I double the lifetime value ofmy customers? I absolutely love these mind. Expanding you know what, ifoutside the box questions, so today, it's just kind of a fantasy of like just brainstorming, how kind of doublethis value? How can I give people the opportunity to spend more money with meand that's really, I find what it comes down to for the vast majority of people.I've ever worked with...

...for them to double the lifetime valueof their customer. They can't currently because theircustomers can't spend that much money with them and not that the customerdoesn't have that much money. It's that the business doesn't have a product orservice that would even allow them to double the value would even allow thecustomer to spend that much money. I remember way back way. Back years ago,I was working with a local musician, and you know he said people just don'tspend money. Look at it, I said so. What can theybuy from you? You've got four CDs totaling, like forty eight dollars, so the most they can ever spend with.You is forty eight dollars unless they want to start buying them for theirfriends. So yeah it's going to be hard to make aliving when it's only forty eight dollars per customer and that's theentire lifetime value they could ever...

...give you now that's kind of an extremeexample. But I see this a lot with, like I said, with a lot of thebusinesses I work with, they have offers and their best customers havebought them all, have bought everything they have to offer and there's no wayfor them to double their value, even if they wanted to and believe me, some ofthem want to some of your best. Customers want to keep giving you moremoney, but you've put a ceiling, and they can't so to day. How can you blow up thatceiling? How can you raise the roof and give them kind of an unlimited optionto where they could spend more and more money with you, because trust me, someof them want to, and you just don't let them all right.That's enough for today see you tomorrow.

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