The ability to win new business is important, but sustaining current client connections may be even more essential, particularly if you’re dealing with products or services that have high add-on potential or that cater to recurring requirements.

Consideration of your customer lifetime value (CLV) is thus an essential component of any successful marketing strategy and plan. Not only do you want to increase awareness about the newest, shiniest addition, but you also want to develop a brand community by offering direct connection and discussion choices, which may convert your brand enthusiasts into real brand ambassadors.

This is one of the most important value propositions of social media. Social media platforms provide everyone with a forum to express themselves and a way to be heard, at any time and on any subject. The businesses that succeed in social media are those who pay attention to consumer feedback and are responsive to their requirements.

By maintaining these connections and expanding on them over time, social media offers an outlet for those consumers to amplify your message inside their own networks, which now span much greater distances than they did in the past, resulting in more revenue for you.

There can be huge value in this – as outlined in this new infographic from the team at GetVOIP. They illustrate various ways you can improve your CLV with examples from brands that have done just that.

Worth considering in your process.

CLV infographic