Some simple estimates will help you decide whether a method is worth trying.

This week we are using Mike Michalowicz’ Get Different experiment from “Get Different”.

You can get the experiment worksheet for free at: 

gogetdifferent.com/#resources

First, we have to take a guess.

How much is one of your ideal customers worth to you over the lifetime of your relationship with them.

I hear you saying “I can’t possibly know.”

You know more than you think.

If they buy a typical purchase from you once, how much profit do you make?

Now, is your offer a one–and-done, or do people come back for more?

How often is someone likely to come back?

Multiply the two numbers together

Ta da!

Lifetime value of your customer.

Tomorrow, how you use the lifetime value to help decide your marketing investment.