Customers for Life, Set for Life

A lifetime customer value is absolutely critical to your success online.

Here’s a straight fact. A study conducted by Bain & Company last year showed that repeat e-commerce buyers spend more money, refer more customers, and buy a broader range of products than one and done shoppers. Other studies have shown figures as high as 34% for average repeat shoppers buying similar products.

That means once you get them in by fulfilling the want that wasn’t previously available in that market you can start offering your competitor’s products. Your customers are practically guaranteed to buy something again as long as it’s similar and in the same kind of industry to what they’ve bought already.

You’ve built credibility and rapport. They believe in you. They’ve given you their credit card number.. Hopefully you’ve done your job and they’ve had a good experience with you. You haven’t ripped them off. You haven’t lied to them or failed to deliver on a promise.

You took care of them. You gave them good customer service. You gave them great value for the dollars they invested in you. Are they going to buy from you again? Absolutely! They qualified themselves to do business with you. It’s easy to sell them again. It shows you the power of backend marketing.

When you treat every prospect visiting your webpage as a potential lifetime customer, you don’t care what they’re buying from you today. You should even be willing to lose a little money on your first sale, because it’s all about the backend. You make all the money on the repeat sale, and it costs nothing to mail to them for the rest of their lives. So if you even lose money on the front end, you’re going to make that money back by selling them again and again and again.

Don’t worry about the $20 you’re making today. Think about that customer that may be worth $2,000 over the next two years to you.

Now think about the ways you can more easily develop multiple streams of income from the internet. You find niche; passionate small markets that only take a few weeks to monopolize, and you build a website and a business that has small profits, but combined with others equal large profits.

The process moves faster because you can test your efforts quicker and easier. You know exactly if things are going to be successful even before you launch them because you can test smaller segments in 24 hours. You send emails to 1,000 people, and you know exactly how much money it’s going to make you based on that response. If it responds well, you send the email to the whole list. That’s a launch.

Before, you used to advertise in a magazine and to get results back in 30, 60 days minimum! Now, you can get results in 24 hours.

There’s no magic wand here. There’s no genius to it. This is easy, no brainer type of stuff. It’s so easy you can walk away after you’ve set things up and earn an incredible month’s income very, very quickly.

The internet’s open 24 hours a day, seven days a week. You know this already — are you taking full advantage of it?