Long-term Loyalty and Considering the Lifetime Value of Your Customer

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We talk KPIs and analyzing data a lot when discussing the health of your business and how to really build a business that performs.

One of the most important KIPs for me? The lifetime value of a customer.

Are you tracking your customer journey and considering their value in the future or simply today? Service revenue is driven by the lifetime value (LTV) of your customers, and despite the nature of emergent disaster restoration projects, considering your LTVs gives long-term perspective in a space where the immediate transaction is often top of mind.

In the restoration space, there are weather events we anticipate based on geography and other emergency events requiring a restoration response. While we can’t anticipate the future need for our services, looking at the broader timeline does something remarkable—it forces us to focus on how our customer service and work quality today could impact repeat business over the next decade.

The lifetime value of each customer is directly affected by the attention you give today. It’s a service investment strategy. You provide the stellar service that differentiates you today, and that client is exponentially more likely to return during the next home disaster. And it’s not just their projects you’re investing in. Every job well done is laying the foundation for a robust referral network.

Are you taking time to consider the lifetime value of your customers?

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Gokul Padmanabhan

Gokul Padmanabhan is the owner and CEO of Restoration Brokers of America. With over 15 years specializing in the sale of restoration businesses, RBA builds relationships with straightforward advice and proven practices to maximize the selling price and exposure of a business to qualifed buyers. Gokul and his team leverage their experience to serve the industry by closing more sales than any group in the restoration industry.

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