What’s the lifetime value of a client?
I have clients who have been worth $100,000+.
But that’s not much in the scheme of things. Anthony Robbins has a Platinum Partnership program where he charges $85,000 a year.
There are consultants and copywriters who get royalties based on results…and generate $1,000,000+ from some projects.
I try to emphasize the importance of serving the high value clients in your audience.
It takes over 204 sales at $49 to equal one $10,000 client.
In some markets, there might not be a lot of these ‘Players with Money’, but it can transform your numbers if even 1% of your audience upgrade.
A business with 1,000 frontend sales at $49 would only earn $49,000 for the year.
If that same business upgraded just 10 members to a $10,000 offer, that’s ANOTHER $100,000 in yearly revenue.
That’s why I sometimes call this the 1% Solution.
Providing greater service for just 1% of your highest value clients can multiply the profits of your business.
No matter what numbers you’re dealing with, the principle stays true.
A lot of online entrepreneurs have told me this doesn’t apply to their market, because the majority of their audience isn’t interested in higher value offers.
That may be true. That’s why these offers are only intended for a portion of your audience.
I’ve helped clients find high ticket offers multiple times in markets you never have suspected.
Dan Kennedy has a strategy he calls a “Slack Adjustor”.
One high value sale can make up for a lot of low value transactions.
The two ways to increase the average lifetime value of a client are:
Frequency of Transactions: Sell multiple products and services on the backend. Often the best method is to create automatic ongoing revenue through a continuity program.
Average Transaction Value: Create upsells and downsells along with deluxe offers. Put together higher ticket products and services that appeal to the more affluent portion of your audience.
A third way to increase the transaction value is to go after ‘bulk’ sales where a corporation might buy 100’s or 1,000’s of memberships with you at a discount rate. This has been the best way to multiply the average transaction value for several clients, but that’s a topic for another time.
The February issue of the Monthly Mentor Club is called “Mentoring Millions”.
It’s 23 pages of proven insights from over 15 years of helping one-on-one clients.
These strategies aren’t just based in my own coaching program. I’ve also helped more than a dozen clients set-up their own coaching programs…both one-on-one and group-based programs they could scale.
- Discover how to increase the number of clients who implement and see results.
- How to target an affluent buying audience that’s a perfect fit for your coaching.
- How to repel ‘wrong’ clients that consume your time and energy.
- 4 secrets that determine the quality of the clients you attract (all within your power)
- How to charge what your solution is worth (2 primary factors that control price).
- Why free sessions suck and how to convert clients without them.
- How to consistently attract your ideal clients.
- How to scale your coaching program so you earn more in less time.
And that’s just a taste of what is included in this issue. Join the Monthly Mentor Club today and you’ll get this issue mailed out to you on February 1st.
In addition, you’ll get immediate access to dozens of special reports and videos designed to help you earn more, work less, and enjoy life!