CLTV University Podcast

Summary:- Be a guide for customers, and over time that will increasingly improve LTV- Difference between a community and an audience- How to allow your community members to connect with each other instead of it just being a megaphone from the company- Make community members a core part of your company's journey (ask feedback and get inspired by them!)- Have a goal for your community - How to set up your questions for success by coordinating with your community- Do you have a dedicated community point person or is it just another task for marketing- What community platforms work well- The challenges with using Social Networking platforms (Like Facebook)- ROI of communityCheck out the incredible content from our friends over at SPI Media via their all-access pass. You can use code "bonjoro" for a 20% discount. 

Summary: Do you know your CLTV at 30, 60, 90, and 180 days?LTV starts with the first purchaseLTV by campaign (vs. Global LTV)Most companies have a random customer journey strategy (and why that's a huge hole)LTV is not one numberUnderstanding front-end vs. back-end revenueLook at LTV/AOVHow to use your LTV data to market more effectivelyHow to reduce barriers to entry and minimize friction to maximize CLTVUnderstanding the customer journey (Of people who Buy A, what are they most likely to buy next?)LTV in B2B vs. B2CLTV by channelLTV is not a static number

-Focusing on CSAT (Customer Satisfaction) and NPS (Customer Loyalty) can be powerful leading indicators-Be proactive and check in with customers-Have tangible goals around gathering feedback-Aligning leadership around customer needs as you scale-Separate and layer customer phase-Anticipating and responding to customer challenges-Being an organization led by Voice of the Customer

-What is the MET (Minimum Effective Time) to generate X result-How to build relationships with intentionality-Using the “Mom test” to make communication accessible-Consistency in touchpoints-Personalization at scale-What extra things are you doing to build customer love?-Not B2B. Not B2C. H2H. Human to Human-Building product associations through relationships-Psychology of positioning

Things to Learn:How to write copy that provides real value“Providing Value” doesn't just mean case studies/bottom of funnel playsHow to not be disruptive in your client communications Setting expectations upfront affects CLTVBe transparent about TTV (Time to Value)Don't just “dump information”. Be tactical in how you communicate to maximize adoption

Things you will learn:Transitioning from an individual product/course to a membership modelThe reality of retention (how to think about it)KRIs (Key Retention Indicators).  Things like coming to Office Hours, showing up in member community, visiting education site, are they opening, clicking, and engaging with emailsHow to use Airtable to make your life simple (color coding insights!)How to find, and then personally engage with high-risk accountsThe magic of “Golden Offboarding”The importance of community (Kay loves Circle)Why advocacy mattersHow to bond with customers

Things you will learn:Economics of retaining existing clients vs. acquiring new onesHow to not get sucked into the “acquisition trap”The power of niching down (and it relates to CLTV)How events can impact CLTVHow to get clients that stick around for 10+ yearsHow to use experiences to create stickinessHow to get human with your customersAdd value in unique ways (like bulk buying licenses from a vendor to give to customers a tool they all need)If customers aren't growing, they are on the path to churnAsk for information (like birthday and date of joining a program) so you can deliver special surprisesDale Beaumont's business program 

Things you will learn:How things change with the subscription economyWhere to start when it comes to CLTVBenchmarks for retention (enterprise and SMB)How do we go on offense (adoption, upsells etc)Product to platform discussionWhen to evolve pricing and how to update it (think alignment!)How to not overcomplicate thingsHow TTV (Time to Value) matters in the CLTV conversationHow to model CLTVShould you always have transparent pricing?Why a healthy product release pipeline is vital for CLTVIf they are not growing, they are on the path to churnCS and Sales AlignmentNick Mehta Bio: Nick Mehta (he/him), is the CEO of Gainsight, the Customer Success Company. He works with a team of over 1000 human beings who together have helped create the Customer Success category that's currently taking over the SaaS business model worldwide. Gainsight is a five-time Forbes Cloud 100 recipient and Nick has been named the #2 CEO by the Software Report, has a 99% approval rating on Glassdoor, and was named Entrepreneur Of The Year for Northern California Award. On top of all that, he was recently rated as the #1 CEO in the world (the award committee was just his mom, but the details are irrelevant). He is a member of the Board of Directors at F5 (NASDAQ:FFIV) and has co-authored two books on Customer Success, Customer Success and The Customer Success Economy. He is passionate about family, football, philosophy, physics, fashion, feminism, parody music videos and SaaS Customer Success. People told him it's impossible to combine all of those interests, but Nick has made it his life's mission to try.

Things you will learn:8 specific tactical things to optimize CLTV (Pricing, Positioning, Features/Upsell, Annual Contracts, Expansion Revenue, Reactivations, Cancellation flows, term optimization, etc.)Relationship directly tied to revenueRise of the Subscription economyWhen should you increase pricing?Strategic vs. Tactical levers for CLTVImportance of advocacy programs and modeling of advocacyImportance of building communityWhen should I start these initiatives?Connect with Patrick Campbell Optimize your Subscription Revenue with Profitwell Connect with Casey Hill 

Things you will learn:How a focus on CLTV can allow you to outspend your competition.How to reframe the concept of “upsell”How to make your customers your advocates. How do you get people referring?How to build a human connection with your leads and customersHow small gestures can completely change a brand relationshipHow to keep it simple with CLTV (using something anyone can use)

Things you will learn:How to create memorable customer experiences (that refer you business!)Customer Success Approach to CLTV (Human-centric)How to position “extra” benefits/servicesWhat does “Going above and beyond” actually mean and how does it affect CLTVConsultative approach across departmentsCulture and it's connection to CLTVHow to spot your happy customers so you can leverage customer proofHow good Customer Support impacts CLTVHow first response time can impact CLTVBuilding a slack community for customers