Posted by: Crystal | November 23, 2009

The Value of Imprinted Products

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A recent post on the well known marketing blog by Seth Godin got me thinking. The post was titled Embracing Lifetime Value. In it Seth Godin writes:

Few businesses understand (really understand) just how much a customer is worth. Add to this the additional profit you get from a delighted customer spreading the word–it can easily double or triple the lifetime value.

So, a chiropractor might see a new patient being worth $2,500, easily. And yet… how much is she spending on courting, catering to and seducing that new customer? My guess is that $50 feels like a lot to the doc. Instead of comparing what you invest to the benefit you receive from the first bill, the first visit, the first transaction, it’s important to not only recognize but embrace the true lifetime value of one more customer.

If we change the chiropractor to an optometrist the message still applies. What are you doing to create repeat business? How are you courting your customers?

One of the easiest ways to build repeat business is to keep your name in front of your customers.  Give out (or retail) products that your patients need, that also have your name and practice information imprinted on them.  This is an investment in the overall value of your customer.

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