Customer lifetime value is always the end all, be all metric you should be targeting. Your customers are what keep your lights on, they are your motivation to keep innovating, and they are the best source to identify ways to disrupt the marketplace and overthrow your competition.
Recently I had an interaction with a contacts company by the name of 1800 Contacts that was so powerful for a variety of reasons that I had to share. This episode of Funnel Friday is going to highlight the THREE KEY MARKETING STRATEGIES they deployed to remind me that lifetime value is a very real thing indeed.
Customer Lifetime Value Is Simple
Simple doesn’t mean easy. If you have a customer-first mindset, then this will come naturally to implementing with your brand in mind. Through a personal experience I had shrouded in stress and anxiety, their customer service team made the experience so rich with understanding, certainty, and clarity in time I needed it most, that I’m confident they’ll have me for life.
Customer Lifetime Value Tactics by 1800 Contacts Trailer
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The 3 Tactics You Can Leverage For Your Business
Here are the three tactics 1800 Contacts used on me that dramatically raised their customer lifetime value:
Subscription based models and services, even on a test basis, is powerful as it evokes co-creation with your end-user & ideal client while allowing you to gather information on what helps your customer to keep purchasing while staying engaged with them.
Customer Experience Using Superior Interface Design Was The Second Tactic Used To Increased Lifetime Value.
3. Customer Service
Candidly caring about what the customer wants is not only just good practice, it’s the best way to create a good experience where the customer wants to be a part of the solutions rather than a passenger. Through this transformation, you are able to yield more impactful solutions for more of your customers.
Included below you’ll also find the audio only content from our Actionable Audio: Real Profit For Real Marketers Podcast page. I’ll continue on with the insights underneath the podcast player on screen.
Customer Lifetime Value Revolves Around The Customer Experience
Customer Lifetime Value is only as strong as the experience it’s able to deliver on. There are many strategies you can deploy to better understand your customers so you can customize the experience for consumers. A favorite way to accomplish this for DeepBridge Consulting is to develop a subscription-based service whenever you can. Even if it’s just to learn more and test viability of the business strategy idea. is We talk about this a lot in parallel to our other marketing & consumer insights blog topics. In order for this to make sense, let me describe my experience.
There I was. Blinded.
No one around to help.
The worst had happened.
I had run out of contacts.
Being that I am legally blind, technically speaking, this is a major problem. I couldn’t wait the week or so it normally took to see my regular ophthalmologist and needed the contacts right away.
Not only did 1800 Contacts have an incredible new user interface where as long as you have gotten your eye exam within a certain time frame you could automatically re-order, they made it incredibly easy for you to make sure your eye didn’t need a visit to your eye doctor.
They made a phone app that has you set up the phone a certain distance (they measure so there’s no cheating) and they deliver an eye test through automated software right there in your own home.
This touches on what we talk a lot in our blog about making a game of every situation you can with consumers. People love to complete things. Even more so when there’s some sort of competition on the line.
So I got my contacts all ordered and rushed shipped them. I checked my mailbox – lo & behold, there was no package. I immediately called their customer service team. There begins the final installment of the story.
Customer Care & Quality Changes Everything
I full expected a company doing so much digital order management to have an outsourced customer care team. I was in for a shock – the call opened up with an automatic phone service warning me of how difficult it can be to understand someone from…get this…
I have to admit, the automated elevator music how certain words mean certain things did come in handy – the accent is thick.
The customer care delivered such a good experience, I almost wanted to sit around and chat with them. Absolutely no questions asked after even the most brief of explanations about how my contacts had no arrived and I checked around mailbox. They sent me out another two boxes of my prescription plus a trial pair of their brand new premium lens set to arrive on the market soon to test.
By the time I hung up, I was relieved, calm, content, and satisfied. As a customer of a company studying their customer experience funnel, it was illuminating. Enough so that I wanted to share this marketing funnel with you on Funnel Friday.
Never underestimate the power of caring about the end-user.
There’s a reason that “Customer lifetime value” begins with the word “customer” and ends with “value”.