How to Improve LTV: Start. Stick. Stay.
Looking to improve your LTV (Lifetime Value of a Customer)? I have a story for you.
My friend, a former CMO now a fitness entrepreneur, told me about his version of “The Big Problem.”
I’m willing to bet it’s a lot like the biggest problem you face in your industry.
The second week of every year is the biggest week of gym membership sign-ups. Talk about a great start.
After a visit or two, 9 out of 10 of those new gym members won’t be seen at the gym again.
Fewer than 2 out of 100 will be there by the end of the year.
Think about the influx of gym membership promotions you see leading up to the new year. When putting pencil to paper, that’s a lot of money for an advertiser (like you) to spend on customer acquisition when the retention rate is less than 2%. For all the cost of acquiring 100 new gym members, more than 98 don’t stay.
I can tell you similar stories across a broad range of industries. People don’t do what they know is best for them.
More often than not, they don’t follow through on their best intentions. Your job as a marketer is to help them. And our job is to help you improve your LTV by getting your customers to not only stick, but stay.
START – STICK – STAY
Our 3Ms Model of Positive Behavior Change Marketing process sustains Motivation and increases Momentum through the Moments that Matter for getting more members from START to STAY and beyond.
When twice as many stay, you improve your LTV by twofold, your growth accelerates, and you help many more people create habits that help them flourish. And those habits mean they will stick with your brand.
Would you like to improve your LTV? To get things going, we can give you a 3Ms analysis of your industry and show you how DiGo can blow that out into great creative for your brand. And great creative is the ultimate economic multiplier.