What is Customer Lifetime Value ? Customer Lifetime Value is the total worth of a customer to a business over the entire period of their relationship.
Why is it important ? Customer Lifetime Value is a powerful metric that can help businesses align their sales, marketing, and product management processes. This can, in turn, benefit customers and increase net profits.
How does CLV impact Marketing ? By clearly estimating LTV, marketing teams can focus more on targeting qualified leads who can be easily acquired with the lowest costs as well as helping set the maximum marketing budget for both acquiring new customers, and for maintaining relationships with existing ones.
The Simple Calculation for Customer Lifetime Value. For this, you first need to calculate the following metrics: average purchase value, average purchase frequency rate, average customer lifespan.
The Advanced Method to Calculate Customer Lifetime Value. The advanced method has more variables but it also gives you a more precise LTV. Here are the variables involved: MRR, ARPA, gross margin, Net Revenue Churn Rate.
1️. Create a Compelling Video Thumbnail
2️. Update the Date
3️. Get People to Subscribe on the Video
4️. Keyword Your Profile
5️. Optimize Keywords for Your Video
6️. Optimize Your Headline and Description
7️. Create a Compelling Outro
8️. Ask Your Current Fans to Subscribe
9️. Optimize for Google Search
10. Say Your Keywords
1️1. Promote Your Videos via Quora and Your Blog
12. Optimize for How People Consume Your Video
1️3. Hook the Audience for Retention
14. Growth Hack Interview Questions
15. Run Ads to Your Videos
16. Engage, Engage, Engage
17. Optimize Your Video Cuts
18. Check Your Analytics for Actionable Insights
19. Record Your Screen for Tutorials
Step 1: Optimize your LinkedIn profileAnalyze your profile with
Step 2️: Write engaging content on LinkedIn
➡️ How to get [result] without [problem/objection]
➡️ Explain your CTA
➡️ How they are currently doing
➡️ This is how your product can fix all of the problems
➡️ This is why 1000s of customers love [product Name]
➡️ These companies are already getting [results], when will you?
➡️ Provide an alternative CTA for the skepticals
The signup flow is one of the most critical aspects of the user experience journey as it is the initial encounter that a user has with your product. The way you design it can have a major impact on how users perceive your product. Therefore:
You should choose friction-based signup flow when :
You should choose frictionless signup flow when
Step 1: Lead Generation using the 'Upcoming' section on Product Hunt.
Step 2️: Lead Generation using Product Hunt Ship Pro
Step 3️: Lead Generation using Product Hunt Listing
Step 4️: Respect the Community
Step 1️⃣ Determine your value metric. A “value metric” is essentially what you charge for. To determine your value metric, think about what value are you directly providing your customer?
Step 2️⃣ Determine your customer profiles and segments. When used properly, quantified personas and segments are beautiful tools.
Step 3️⃣ User research + experimentation. Beyond your value metric and core segments, the monetization game becomes extremely tactical and research-based.
Rapid-dire bonus advice:
1️⃣ What is a referral marketing program & why do you need one ? A referral program is an initiative that your clients can join. A given client shares their recommendations with friends or family and in return collects points that eventually amount to receiving rewards.
2️⃣ Think about your clients first. What would they find attractive as a reward? There are different incentive models : one-side, two-side, no reward.
3️⃣ Do some research. What you should check at the very beginning are the prizes. Not only among customers but also among competitors. It's good to know the reward structure of your competitors (standard, tiered, multi-step)
4️⃣ Set your goals. The starting point for creating a program should be figuring out what you want to achieve with it. You should continually track the progress and analyze if you are on the right track to achieving your goal.
5️⃣ Choose the right tool. Thanks to using the right solution, you will be able to create a program designed for your specific needs.
6️⃣ Start your referral marketing program. If such a program is well-structured and the incentives are matched to the target audience, you can achieve not only image and marketing goals but also financial ones.
How does it look from the inside ?
1️. Ask questions and get answers
2. Share outbound sales strategies and cold email templates
3️. Have fun and share cool life stories
How to get more members in a Facebook group using cold emails?
1. Find the right target audience. A community for everyone is a community for nobody.
2️. Launch a cold email campaign. Personalize your campaign with an unusual greeting, reference to LinkedIn connection, images, etc.
3️. Personalized video. Send an email with a video launched on a dynamic landing page.
Grow a Facebook community with word of mouth
1️. Activate people's engagement. Qualify new members and send a welcome email.
2️. Provide exclusive and off-the-hook content.
1️⃣ Why Pricing Is Key From The Get-Go
2️⃣ Why Monetization Often Fails
3️⃣ Three Key Rules For Monetizing New Products
4️⃣ A Final Word On Pricing
1️⃣ Tame the social media beast. Most teams are already fluent in social media. Instead of squashing that opportunity by banning sites from the workplace, leverage it as a potential communication tool. Facebook’s new Workspace, for example, is a great way to foster work and a sense of camaraderie.
2️⃣ Make video meetings the norm. Regular video meetings not only give your team a chance to discuss a work goal, but they also help build connection by allowing for some off-topic chit-chat. Start each meeting by tackling at least one small company issue, then let conversation flow naturally.
3️⃣ Don't abandon face-to-face meetings. These meetings still have their time and place for addressing work issues and building a sense of team. Who doesn't want to get together for the occasional pizza lunch?
4️⃣ Teach employees how to write a proper email. Don’t assume that everyone knows the most effective use of email. Invest in training that teaches your team how to email with clarity and conciseness.
5️⃣ Use a productivity platform. There are a slew of great tools out there to help ease remote communication. Slack is a popular choice, but there are many options depending on your goals and needs.
1️⃣ The Viral Coefficient. The first thing that we need to calculate is the number of new customers that each existing customer is able to successfully convert.
2️⃣ Understanding the Impact of the Viral Coefficient. The Viral Coefficient must be greater than 1 to have viral growth.
3️⃣ The Second Important Variable : Viral Cycle Time. The Viral Cycle Time is the time that it takes for the viral cycle to complete.
4️⃣ How Viral Cycle Time affects growth.
5️⃣ Lessons Learned
6️⃣ Hybrid Viral Models. In the hybrid viral model, you make up for the shortfall in customers by acquiring those through some other means such as paid search, or SEO.
7️⃣ Model Limitations. The model above is pretty simplistic and does not take into consideration several real world phenomena
How to create a post on LinkedIn that will command attention
Step 1 - Formulate a catchy intro
Step 2 - Write with the storytelling technique
Step 3 - Use short phrases
Step 4 - Produce long form content
Step 5 - Create posts that are targeted to your audience
Step 6 - Build a network that wants to see your content
Step 7 - Increase your reach by tagging relevant people & pages
Step 8 - Add images and videos
Step 9 - Include hashtags
Step 10 - Find the right time to post
Step 11 - Post often
Step 12 - Ask colleagues to engage
Step 13 - Get inspiration from others
Things to post on LinkedIn: 8 amazing LinkedIn post ideas
→ Share your content in an exciting way
→ Lead magnet with exclusive content
→ Lesson learned
→ Industry knowledge/insights
→ Motivational content
→ Best practices other people can use
→ Interesting experiences
→ Things from your personal & professional life
How to promote content on LinkedIn (& other social media platforms!)
→ Make a status update (post)
→ Post on the LinkedIn company page
→ Involve your team
→ Leverage your network
→ Create an article on LinkedIn
→ Make a publication (add this section to your profile)
→ Post in groups (LinkedIn and FB)
→ Comment on posts in groups (LinkedIn and Facebook)
→ Send a message to a targeted audience
→ Share on other social media sites
→ Sponsored post
Monetization as your Unique Differentiator : As Elena Verna, Head of Marketing at Miro said "Revenue is the ultimate success measure of any company. In order for you to truly own the outcome of your company, you need to own monetization strategy."
The monetization perceived challenges to tackle are the following:
1️⃣ Fear of Customer Revolt. The longer you go without changing your monetization, the bigger the eventual change you need to make. If you establish a frequency of change and communicate properly, customer revolts can be avoided. Try to provide more value or at least more packing options.
2️⃣ Stakeholders. Get a central person understanding the different points of view and orchestrating the monetization conversation from every part of the organization.
3️⃣ Massive Lift. You need the proper infrastructure to make changes. A change to one element of monetization can require updates to a lot of other parts of the system. Diving into this complexity helps you become valuable across the entire organization.
What is NPS?