The value of a customer can be deceiving. Many people ONLY look at the bottom line of that one job, and see nothing else.
For instance a one-time window cleaning job that brings in $175.00 would be viewed as simply a customer WORTH ONLY $175.00.
But that is FAR FROM THE TRUTH. The fact is that one-time customer is probably worth many times more if you play your cards right.
The fact is many customers will become LIFE-TIME customers provided you did a good job AND followed up regularly to stay in front of them. So let’s say this one-time window cleaning job for only $175.00 becomes a life-time job.
For the sake of argument we’ll define life-time as 30 years. We’ll assume that they only hire you every other year. And let’s say the price stays the same (which is unlikely but makes the math easier). So that means they will hire you roughly 15 more times at $175.00.
That will total $2,625.00. Not a ton of money, especially over 30 years, but the math doesn’t end there! It’s safe to assume that this one account will REFER YOU 5 more customers. Those 5 accounts add ANOTHER $13,125.00 (remember, each one is worth AT LEAST $2,625.00). This is starting to add up now huh?
Now it’s very plausible that you may get more referrals off this second generation group of referrals. So let’s say each one of those 5 refer you 3 more similar customers (15 times $2,625.00). This is ANOTHER $39,375.00 on top of what you already have earned.
These numbers are VERY POSSIBLE, however the amazing part is you MAY DO EVEN BETTER. What if some of those “every other year” accounts BECAME YEARLY ACCOUNTS? Wow… that math would be OFF THE CHARTS. What if you got more referrals as well? WOW!!!
The point I want to drive home is this. It’s good practice to OBSESS over making each customer a happy REPEAT customer because many of those will become a CHEERLEADER. And cheerleaders SEND YOU BUSINESS!
And that business will yield more cheerleaders which just make you more and more money. So do yourself a favor and work hard at making one-time clients a life-time client. This is the single fastest way to build wealth in a service based business.