As a cleaning business owner, it’s easy to get caught up in thinking about the success of your company in simple terms – like how many customers you have.
But there’s another number all of us should be looking at:
The lifetime value of each and every customer.
In this latest episode of the Profit Cleaners podcast, Brandon Condrey and Brandon Schoen discuss the crucial concept of customer lifetime value (CLV) in the cleaning industry. They explain how understanding CLV can help cleaning businesses grow sustainably by keeping you focused on long-term customer satisfaction.
You’ll also hear them break down how to calculate the CLV for your business and share practical strategies for increasing it, such as offering extra services and providing excellent customer service. By prioritizing customer satisfaction, businesses can turn one-time clients into loyal advocates who keep coming back – for years.
Ready to unlock the full potential of your cleaning business? Tune in now!
Also be sure to check out helpful resources on the Profit Cleaners website to further improve your business’s strategies!
Highlights:
- (01:15) The lifetime value of customers in the cleaning business, emphasizing its importance in business growth and success.
- (02:23) The referral policies and their impact on customer retention and acquisition.
- (03:46) Illustration of lifetime value through examples of long-term customers' spending over several years.
- (06:14:) The significance of customer lifetime value and its implications for business growth and marketing strategies.
- (08:18) The aggregate lifetime value and spending of the top 100 customers, highlighting the potential for revenue generation.
- (10:10) Strategies for increasing customer lifetime value, including raising average purchase value, frequency, and enhancing customer experience.
- (13:48) The attainability of significant revenue growth through customer retention and acquisition.
- (16:34) Importance of customer experience in fostering long-term relationships and customer satisfaction.
- (18:33) The leveraging existing customers for referrals and future business growth.
- (20:53) Maintaining customer relationships and fostering customer loyalty through exceptional service and experience.
- (22:41) Prioritize customer experience and growth mindset over perfection in service delivery.
Links/Resources Mentioned:
