The one who does Lifetime Customer Value usually wins?
I asked my client Sharman, who has a takeaway fast food stall, what was his LCV and he didn’t know. Do you know what is your LCV, Lifetime Customer Value?
The keys are to think global (not just local) and track to calculate value. Are you tracking your lifetime customer value?
If the above 2 questions make you feel less than comfortable, that is normal. Most Gig side-business owners don’t do these things.
There are a few simple steps to scaling global and tracking. More on this later.
Remember, when you scale globally you will want to adjust for cultures to build LCV. For example some cultures have a much more challenging communication style and some have a more nurturing style.
Let’s say your content marketing is full of stories about face to face challenges. You will appeal more to one type of culture and repel people from the other type of culture.
Challenging vs. Nurturing Communication
DEFINITION: Giggers – those who have started their own Gig to live the New Gig Economy Lifestyle.
As fantastically successful digital marketer Josh Steimle says, can you? More later.
How do you rate? How do you channel your frustration into power?
Remember…
Quiz yourself at this end of this blog to see how you fair?
Doc Warren Lifestyle Coach here…
Watch to learn about Taylor Swift’s Secret of Support 2018.
With my personal coach and mentor clients, and in classes where I teach a How to Become a Life Coach Certification course, we channel frustration into power.
Giggers, channel your frustration into power. As The New Rich are effective Entrepreneurs, they have learned to channel frustration into power for experiencing optimal lifestyles.
Today we are aligning our Gigger Success Skill #7: Channel Frustration into Power with Gig Business Success Step-3: Scale your Biz Globally.
The 5 Steps so you can build your Gig business to the next level and experience your optimal income.
| Step-1: Use inexpensive digital marketing. | (Yes, for local small businesses, you can “set it and forget it” to get your BIG DATA too.) |
| Step-2: Know your CLAN and build them up. | (Get to KNOW THEM WELL.) |
| Step-3: Automate and outsource to streamline processes to reduce wasted activity and space. | (Think Disney or McDonald’s.) |
| Step-4: Scale your business globally. | (E.g. A local bakery can sell an online eBook with recipes and Ideas for Entertaining.) |
| Step-5: Enjoy your Gig business optimal freedom lifestyle. | (Your goal is a 4-Hour Work Week.) |
Just like a new restaurant packed with people digging into their grub is a sign of good food?
A market/niche filled with competition is a great sign that it’s a HOT market you want to be in. A market that’s full of hungry customers and massive demand.
Yet, for us to do well in these markets, we have to devise a way to stand out and grab our piece of the profit pie. The best way to break away from the pack, IMHO, is to offer a higher value service… and as a result?
You also get a huge leg up over the competition. Because, with higher profit margins, you’re able to outsped the competition to get a new customer!
This is huge.
If the lifetime customer value (LCV) of your competition is $297, then they can’t spend more than that on their ads to turn out any profit.
If your LCV is $1K up to $10K because you can provide more value so they stay with you? Do you see how that can help you scoop up plenty of the “green stuff” in your Gig side-business?
With a step-by-step plan you’ll learn how to start generating revenue on the side, setting yourself apart from the comp. If you have the financial foundation it is much easier to change the world.
And setting yourself up for success. You can realistically hit $10K months with this, part-time, because of the leverage big-ticket commissions brings your way.
Remember to keep your global market in mind and adjust to different cultural preferences. By scaling your biz globally, you can offer more value to your global markets the way they want.
Change the world, to make it better, to impact others for good? What’s the message you would share? Josh Steimle
Have a great day!
All the Best,
Warren Linger
Channel Frustration into Power. Exercise #12:
As a Gigger in the global Gig economy, how can you increase LCV to channel frustrations into power to build your Gig business to the next level?
Look at these examples where Giggers say they increased LCV to channel frustrations into power and found ways to overcome them to feel confident and build their Gig business to support their customer clans.
- I was frustrated not knowing my customers needs, so I’ve automated so I get regular feedback and analytics for LCV
- I’ve found I was frustrated trying to automate to understand LCV, so I hired a mentor to help me see what’s next
- I posted a webinar but was frustrated not knowing what worked and what didn’t, so learned to use LCV analytics and asked my clan for feedback
Write 3 frustrations you could build VCL to turn into unstoppable power and create your flow systems to have time to feel fully engaged developing yourself in your Gig and for your customer clan.
- –
- –
- –
Look at your list and attack 1 (only one at a time but do try a new one every month) idea to apply this week:
- Write your your idea where you could channel frustration to power.
- List steps you see to overcome (e.g. digital media) to see opportunities and values for your clan.
- Give yourself a metric to measure progress. (e.g. I will set a webinar for my customer clan feedback and learn from them when they want.)
- Reward yourself after you have completed your steps to channel frustrations into unstoppable power.
Debrief: The point here is to get over your own “NO, I can’t,” response and develop yourself so you can have your business success and your optimal lifestyle.
If you are looking at this exercise and saying, “this feels awkward,” that is good. The important part is you will get used to it, as your life, family, and business depend on it.
Change the world, to make it better, to impact others for good? What’s the message you would share? Josh Steimle
NOTE: If you don’t learn to channel frustration into power, you may soon join the 80% of small businesses that fail within the first 5 years!
PS: Next time you will learn another step to your Gigger success as you channel frustration into power. If you would like more developing your Gig business to the next level and living your optimal lifestyle, email me at drwarren@cict.co.
Hope this helps.
Doc Warren Linger
@DrWarrenLINGER
PS You’ll also be able to join our private support groups on FB… so you’re never alone in getting your first few months of holiday vacation opening up.
We’ll all be there to celebrate your big successes, and to help you up if and when you should ever fall…
==> Email drwarren@cict.co NOW to coach yourself to your new optimal lifestyle freedom.
You can see examples of innovations for Optimal Experiences at JOIN THE CURATION: Google+.
Remember, come join tomorrow to see more Improving Your Engagement with Screenagers and others inspirational experiences and ideas for Optimal Engagement in the ScreenAge.
Remember to engage tomorrow.
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Engagement background of Optimal Engagement Lifestyle
As a trainer and university lecturer in the USA, I had great success in my coaching, training, and classrooms by engaging my learners in ways I had learned from my Dale Carnegie Instructor Training. (optimal engagement)
After earning my Doctoral Degree researching engaging instruction in adult education and training and development, I started a training business in Hong Kong.
But something was wrong, I was struggling in this new culture (I’m a cattle rancher’s son from Colorado, USA) to find ways to inspire and motivate my coachees and students in Hong Kong.
With my coachees and in the classroom, I preferred having clients engage in learning activities instead of just talking. This is especially effective to keep clients engaged between coaching calls.
I struggled through trying several paper worksheets and workbooks to guide students, but I wasn’t getting the results I wanted. (junk engagement)
When the smart phone with the ability to search the internet came along, I could see my clients were curating (i.e. searching, finding, collecting, commenting, changing, remixing, and sharing.)
I thought, “Why not do that for learning?”, so I started asking them to answer questions, interact with information and colleagues, and go find examples of the learning content using their mobile devices.
eWorkbook development and success
I began searching for possibilities and I struggled testing several apps, until we created best practices using eWorkbooks, and after testing them, began to use eWorkbooks as my clients always had their devices with them.
Then we used eWorkbooks (Google Forms with the training slides as well as interactive questions, curating links and tasks, example images and videos, etc.) This became powerful for my coaching clients as they were able to share ideas and get the benefits of social learning even though they were not in the training course or classroom.
My clients [Engaging Screenagers] completed eWorkbooks using their mobile devices as they were learning interactively while, at the same time, they were developing habits of learning with their devices (optimal engagement) instead of killing time with them. (junk engagement)
Students used eWorkbooks to while I lead the discussion and guided them, and after they submitted their answers, they would get their responses sent to their inbox so they could review their learning Moments of Growth. (optimal engagement)
Because the students’ responses from eWorkbooks go right into a spreadsheet in real-time, as the teacher I can monitor what students are doing to give them guidance in the moment, as well as track their learning develop over time.
Since those early days, I’ve had great luck supporting my coaching clients and entrepreneur friends use Google forms for 360° reviews for evaluations as well as use eBrochures and eMenus to test new ideas and actively engage and actively interact with customers.
All client info has been scrubbed of identifying information unless they have given me specific, written permission to quote them.
Culture success skills adapted; Cultures and Organizations: Software for the Mind. (2005) Geert Hofstede and Gert Jan Hofstede, McGraw Hill, New York.
*Entrepreneurial Foundation>Success Skills adapted from World Life Skills Expert, Jill Raiguel’s awesome book, “The Next Step,” (1991) Amethyst Books, New York.
Your Personal Coach Doc Warren LINGER, Josh Steimle Message you would share Image Facebook #OptimalLifestyle #OptimalEngagement #Best-East-West-Life-Coach
The one who does Lifetime Customer Value usually wins? Personal Coach
Learn more >-https://cict.co/the-one-who-does-lifetime-customer-value-usually-wins/
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Learn to channel frustration into power to add value to your customer clan so you can improve your business and build your optimal lifestyle. As digital marketer Josh Steimle says, can you? The New Rich learn to see their blind spots for optimal lifestyles.
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Dr Warren LINGER © 2018
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