Like your momma said, “Just Eat It, It’s good for you!”
In this episode of the IT Provider Network, I wanted to talk about the lifetime value of a customer and why you should “Just Eat It” sometimes to keep your customers happy and keep them paying you month over month.
I also go over the Marketopia 4U2Grow conference I just attended and a little about their service offering. Marketopia is part digital marketing agency part outsourced sales appointment setter. It was a good conference but the real value was being able to vet them out as a provider and talk to some of their customers before I signed on the line for the next year.
If you know the Internet Marketeer Russell Brunson of Click Funnels fame, he always quotes one of his mentors and his philosophy on what to pay to acquire a customer. To paraphrase, “He who can pay the most for a customer wins”. This is especially true for us as MSP’s. If we can get a new customer and keep them happy it can often be worth $250,000 or more.
Is it really worth it to charge a small extra fee and risk a $250,000 client?
The big reason you should “Eat It” is the lifetime value of a customer.
I did an analysis and the lifetime value or LTV of my client base was over anywhere between 250k and 600k. In addition, I have one client with an LTV of over 8.5 million. That’s not chump change and everyone on your team should be aware of just how important your customers are to your business.
Bitcoin, Etherum and Litecoin and the whole cryptocurrency revolution – Get Some!
Coinbase is a secure online platform for buying, selling, transferring, and storing digital currency. I have used them since 2014 and they are like the TD Ameritrade of the digital currency world.
I also invited everyone to open an account with Coinbase. If you do you and I will both get $10 in bitcoin to help fund our retirement. If you haven’t gotten involved in cryptocurrency and you have a couple of bucks to gamble with I strongly encourage you to open an account at Coinbase by going to startbuyingcoins.com – I appreciate the 10 bucks in bitcoin and wish you luck with your cryptocurrency.
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