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Once & For All: Stopping Sexual Harassment at Work

“What’s a Customer Worth?” Activity

Here’s an activity to help you identify the “lifetime value” of a customer. Below are some figures that give customer lifetime values in different types of businesses.

Expenditures per visit for various industries & estimates of the 1- and 10-year values of one customer:

Industry Segment

Average Spent per Visit

# Visits per Week

Average Spent per Year (52 wks)

Average Total Spent in 10 Years

Convenience Store 1

$5.51

1

$286.52

$2,865

Grocery Store 2

$28.88

1.9

$2853.34

$28,533

Coffee Bar 3

$5.90

4.2

$1288.56

$12,886

 

Now let’s do the same for you. What’s your favorite store? Think about all the places you shop – clothing stores, grocery, electronics, home improvement stores, coffee shops, bookstores, pet stores, warehouse stores, online stores…How much do you spend each time you go in your favorite store? What’s your business worth to them over a year? 

Favorite Store

$ Spent per Visit

Shopping Frequency
(# visits per month)

$ Spent per month

$ Spent per Year

 

 

 

 

 

 

 

 

Now, think about one of your regular customers. Each one of them has a “lifetime value” to your company. Do some more math, and you’ll see how that customer’s value can grow!

 

Average $ Spent per Purchase

# Purchases per Year

Average Spent per Year

Average Total Spent in 10 Years

A Customer of My Company

 

 

 

 

 

 If you’re a big store and have hundreds of customers a day, the impact could be staggering if you began to lose those regular customers!

Need more help in this area? CRM’s video program WAYMISH: Why Are You Making It So Hard…for me to give you my money? helps employees realize the value of customers, and teaches them how to give superior customer service.

 

1 SBDC, national average, estimated at one visit per week, not including purchase of gasoline (2003). http://sbdcnet.org/Snapshots/convenienceStore.pdf
2 Food Marketing Institute Inducstry Overview (2007). http://www.fmi.org/facts_figs/?fuseaction=superfact
3 A5 Consulting Group (2004). http://www.carmean.net/papers/Starbucks%20Marketing.doc
  

 

This material excerpted from the Leader’s Guide to the video program WAYMISH: Why Are You Making It So Hard…for me to give you my money?

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