Client lifetime value is a coin with 2 sides:
The first is rather obvious:
How can you keep clients on longer (or even better, if your product or service pricing is appropriate for it) addicted to your solutions?
The second is more advanced:
How much is your worth to the client over your lifetime together?
(This is not to place your being’s value and worth in your work or market value, this is a strict observance of your value contribution to your clients.)
Case Study:
One of my clients increased their CLTV by 225% (which is another way of saying we doubled it and then some) simply by improving the client’s experience and delivery of results.
How?
Simple: improving the operations of the business.
From client intake, onboarding, communication, execution, and delivery mechanisms.
Lesson:
Improving the way the business interacted with clients elevated the client experience and as a result, improved the performance of clients’ accounts, thus increasing the value of the business to the client.
How can you improve your client’s experience?