Calculating the lifetime value of customers – Tuning into the Voice of the Customer

It goes without saying that the most important thing to your business is your customers; your current base and the ones you want to target to expand your revenue streams. Voice of the Customer can assist with this.

Aside from hammering your sales and marketing departments to meet goals from well-intended plans or fingers crossed, exceed your goals for the year, what truly is the best way or ways to attract and keep customers?

As a starting point for consideration, do you know what your customers think about your business – i.e. its services, products and processes? Or maybe, have you considered what their needs are but also what they want from a business like yours?

Cracking these questions wide-open and assembling proper plans to address them can have a snowball effect on your customer growth. Think about it, how many times do you tell your friends or family about a negative customer experience and more importantly, a very positive one that exceeded your expectations?

Word of mouth can have a powerful effect on your business, so doing things right from the get go is exceptionally important.

Read the full article in MyCustomer.

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