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How do you ensure that your client acquisition cost is always less than your lifetime customer value? How do you achieve a loyal customer base? A lot of businesses struggle in establishing a loyal customer base. They try various strategies until they find out what works best for them.
In this episode, we speak to Victor Antonio, a keynote speaker, author, host of the sales influence podcast, and a sales consultant. He has a B.S in Electrical engineering, an MBA and has built over 25 years as a top sales executive and CEO of a high-tech company.
In this session, Victor shares his journey from pursuing his degree in electrical engineering, realizing it wasn’t his thing four years later, to finding his passion in sales and scaling businesses. Besides, he expounds on capitalizing on upselling to increase customer retention, leveraging technology for your upsell, creating a value map for your customers, and client acquisition cost versus lifetime customer value.
Highlights From The Episode
[01:31] About Victor Antonio
[02:47] Victor’s background getting into sales and scaling business
[03:52] Key things to look out for when scaling a business and how to build on them
[06:53] Scaling for B2C
[12:54] Industries Victor excels in
[13:17] Decision fatigue and ensuring that the anxiety goes down
[14:47] Having a follow-up process after the deal closes
[16:18] Leveraging on technology for your upsell
[17:35] Should you offer an upsell while on routine customer service?
[20:41] Creating a value map for your customers
[22:26] To get Victor’s book
[23:00] Victor’s ideal clientele
[24:04] Insights on sales from “Rich Dad, Poor Dad”
[27:16] The transformation in the marketing industry
[29:02] The relationship between the client acquisition cost and lifetime customer value
[30:32] To connect with Victor Antonio
Notable Quotes
● By focusing solely on your existing clients, you can increase your revenue by up to 30%
● When you look at every successful person, sales is involved in every shape, way, or form.
● Everything is commission-based, and your ability to produce for a company will always be the most valuable thing.
● Sales are not the only department that’s a profit center. Everyone else is a cost center.
● As long as your client acquisition cost is less than your lifetime customer value, that’s a good deal.
● The more a customer is buying from you, the stickier they become.
Resources
Mentioned Book
Mastering the Upsell by Victor Antonio
Rich Dad Poor Dad by Robert Kiyosaki
To connect with Victor Antonio
Podcast
The Lavahot podcast is proudly sponsored by
Rice’s Termite and Pest Control
the Lavahot Podcast is proudly sponsored by Rice's Termite and Pest Control.
Joseph Connell Jr.
