Customer Value Optimization is a mouth-full, so it also goes by the name of CVO.
Our friend CVO has done so much for us, as well as for the brands we work with.
If you feel like your business is stuck in the mud, OR if you just want to make even more sales, keep reading because I’m about to introduce you to your brand’s new a$$-kicking best friend.
It’s all about adjusting your marketing plan to be customer-centric.
Whether you’re a beginner or a seasoned pro, you can never lose sight of what REALLY matters: your customers.
The system I’m about to show you is the same system McDonald’s, Amazon, and Starbucks have used to build their empires. No matter what you’re selling, this system will totally change the way you look & run your business.
Ready? Let’s dive in.
Customer Value Optimization Just Flat-Out Works
Simply having a system for customer service won’t cut it.
Why? Because typical customer service routines treat people as an afterthought.
If you really want a kick-a$$ business, make people the first priority of every operation.
Missing the point? Listen to what Digital Marketer has to say:
“This system works because it exploits each and every aspect of the irrefutable law of business growth put forth by legendary marketer Jay Abraham:
There are only three ways to grow a business,
- Increase the number of customers
- Increase the average transaction value per customer
- Increase the number of transactions per customer.
These are the main beliefs that govern the Customer Value Optimization system.”
“How do you implement the Customer Value Optimization system?”
In short, the Customer Value Optimization system plays on every law of business.
It gives every customer the optimal value and experience from interacting with your brand.
The 5 Steps of Customer Value Optimization:
We can break CVO down into 5 basic steps after we identify the market your selling in & the place you want to advertise. We call it driving traffic.
Just in case you haven’t figured out the market place and where to advertise part out. We will touch on that before starting with Step 1.
(BTW, this is how a great CVO sales funnel works…)
Determine Your Product and Target Market
This is arguably the the most crucial part — choosing the right market to present your product or service to.
The customer journey can’t start until you’ve grabbed the right customer.
Determine Your Traffic Sources and Platforms (where to advertise)
In order to drive web traffic to your brand, you need to measure what your traffic is worth.
You need to get the most value from every person who visits your website.
From your email list to your blog, your web traffic efforts should attract the people who will become life-long customers.
(That’s how to really kick a$$ in marketing!)
Here is where the 5 Steps Begin:
Step 1: Offer an Amazing Lead Magnet
This step focuses on increasing your number of leads.
Lead magnets offer high-value content that offers instant gratification in exchange for their email address.
This is your first contact with them, so make sure it’s awesome!
Step 2: Offer a Tripwire
The tripwire’s goal is to turn a lead into a customer.
This low-ball offer will give them a ton of value at a low cost and kick-start your affair with them.
Though it may seem like a small loss to you, it has the potential to become a huge gain.
It’s well known in CVO that anyone who goes for the tripwire offer is way more likely to move on to the next 3 steps…
Step 3: Offer Your Core Product
Selling your flagship products has now become a walk in the park!
POP QUIZ! What’s the biggest mistake brands make?
Answer: Shoving their products on people who haven’t properly been introduced to them!
This is why it’s so important to offer a kick-a$$ lead magnet and tripwire before hand.
Step 4: Maximize Your Profit
At this step, you’re ready to introduce your profit maximizer.
You’re giving yourself the opportunity to increase the average value per customer.
Think of it this way: The laptop is the core offer. The installation and support is the profit maximizer.
Step 5: Create a Return Path
The return path increases the number of transactions per customer.
THE GOAL: To drop existing customers back at the starting line of your Customer Value Optimization funnel, where you can offer them new lead magnets, tripwires, and core offers.
Social media and email marketing campaigns are both great return paths.
BONUS STEP: Turn Your Customers Into Raving Fans
Nothing is better than having customers who can’t shut up about you.
They loved your services and products so much that they tell all their friends about your business!
There is no better way to do that than by using the Customer Value Optimization model.
Check out this infographic from Digital Marketer (we’re proud to be their certified partners!) for a visual look at how CVO works:
Just as a re-cap…
What makes CVO so kick-a$$?
If you increase the value of your customer, you will in turn increase the amount of money they’re willing to spend on you.
No matter what you’re selling, you need to write customer value optimization into your plans if you want to increase your sales.
Customer Value Optimization Case Studies:
Click below for a play by play of how we tripled a relatively unknown local business’s sales in just 6 weeks with CVO and our Conversion Website process.
How We Used This Website Template and Customer Value Optimization to Grow a Small Business
There you have it.
Even if you only include one part of the customer value optimization system, you’re bound to see results.
Better yet, you’re bound to see happy, loyal, high-value customers coming through your doors again and again.
Want some help designing your own plan for CVO domination?
You can set up a FREE 30-minute strategy session with me, so we can custom-design your very own plan of attack.
Think of us as your brain trust, and partners in kicking a$$.