The following is a guest post from Sam Suthar, the CMO of Tagove.
Scaling your business is almost impossible until you know your customer’s value. Whether you’re going to scale a brick-and-mortar business or an online business, it doesn’t matter; it’s vitally important to understand what each customer is worth to your business.
Statistics by Unicom Group show that 50% of customers naturally churn every 5 years. Sadly, this number can increase if you fail to understand what the customer who signed up last night is worth.
Yes, it’s doable. Although very tricky. In the rest of this article, I will show you how to scale your business by first knowing the value of each customer.