Consider these 2 scenarios:
There are 2 key indicators that you need to be aware of:
i. Inbound Marketing - Dollars spent to attract customers to website, to create content such as blog, white papers
ii. Outbound Marketing- Dollars spent to advertise about the company's products - email campaigns, TV Ads etc.
b. Sales: Salaries of inside sales team or Direct field sales teams associated with the account
c. Discounts: Any discounts or coupons given to get the customer buy the product or service
d. Free services or products: Product or service giveaways to attract customers
Customer Experience programs today are helping companies increase their customer lifetime value by up-selling and cross-selling products to existing customers and identifying ways to retain most profitable customers. If you can identify a potential customer with high CLV, then you can afford to give away products or services for free in return for the customer increasing their share of wallet with your company. If not, is the customer really worth pursuing just because you want to crush competition or increase your market share?
Growth Consulting Expert