There is quite a bit of talk about the positive impact that inbound marketing brings to any business
Especially when it comes to creating:
- brand loyalty
- a higher customer lifetime value (CLV)
- and consistent sales
And yes, this even includes small and medium sized businesses. Inbound marketing levels the playing field for small businesses. This is because any industry and any service or product you're selling needs to have a strong customer base. Customers now have the tools to do endless research for the items they want to buy. This has also changed the sales game… to learn more on the sales side of CLV pick up Frank Belzer's new book Sales Shift.
Anyhow, there are several ways inbound marketing can help ramp up CLV easily, inexpensively, and quickly. All of them tie-in to one central theme, though: educating your market.
You want to be able to show that you're an industry thought leader by developing the right kind of content and knowledge that customers want to consistently read, view, and share with others. How can you do that? Here are some ways to make major changes to your brand loyalty and customer lifetime value right now:
- Business Blog: Always have an active and quality blog with content that people actually want to read, not just boring press releases. Your business blog doesn't have to be completely filled with business lingo and jargon, either. Make it personable while also providing quality content on a weekly basis.
- Downloadable eBooks: You can also consolidate all of your blog posts into a free, downloadable ebook for your customers or even create brand new content using content such as benchmarks, statistics, and other data that is highly sought after. This will really show that you're an industry thought leader and a brand worth following and doing business with.
- Video: One of the most prominent methods of social media is video and it is only going to continue to dominate. Your business can use video to educate and entertain customers in order to cement a customer lifetime value that keeps bringing back customers.
- Infographics: We've all seen them before and they're a great piece of content that can be easily shared across multiple social networks while also bringing in more exposure and brand loyalty for your business. They're also very easy to create and rather cheap, too.
These are the four most popular and common ways to generate and keep a consistently high Customer Lifetime Value through inbound marketing. It is done by providing more ways to connect and engage with your current and new customers. Inbound marketing, blogs, eBooks, Video and Infographics are all focused on delivering remarkable content to educate your customers and help them become better at what they do. This builds trust and establishes long term relationships which in turn delivers a higher Customer Lifetime Value.
Inbound Marketing improving Customer Lifetime Value is proven time and time again with…
- lower cost of customer acquisition
- ease of retaining customers
- and also by the level of customer evangelism that starts to take place
Your marketing budget is able to include all of this and more in order to really start seeing successful sales and an even more profitable business. To learn more about inbound marketing check out the Hubspot Inbound Marketing Methodology.
More importantly step back and study what Hubspot is doing. These guys lead the pack with educating their customers, followers and even competitors and over the last 4-5 years their business has gone through the roof. They are a good model to follow and certainly thought leaders in the inbound world. See what Forbes magazine has to say about them and LTV (CLV) in the article titled: In Defense Of The Lifetime Value (LTV) Formula
If you'd like to learn more or talk about how to get started with inbound marketing… just schedule a meeting!