178: You Are Treating Your Customers Equally (And Its Costing You Money)

The Ecommerce Influence Podcast

Content provided by Austin Brawner. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Austin Brawner or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

5+ y ago 41:24

MP3•Episode home

Today, we’ve got an excellent interview with Wharton Professor and entrepreneur Peter Fader.

He's a two-time guest. We wanted to bring Peter back on the show because he’s an expert in customer lifetime value and customer centricity.

How do you predict lifetime value? What models should we use to predict lifetime value? This is what Peter spent his entire career focusing on.

In this episode, Peter is going to talk about the difference between contractual businesses and subscription businesses. He's going to talk about share some big name eCommerce businesses that on are track to go out of business because of their product-centric model.

It's a deep dive into customer centricity, lifetime value, and it's something I think you guys will enjoy.

Episode Highlights

4:37 The work Peter Fader did with Zodiac that made Nike wanted to buy it.
8:45 What is lifetime value and its importance to your business.
9:54 Tips on making more money.
10:27 What really sets Amazon aside that makes their number two better than other companies number one.
14:06 What are lifetime value scores?
15:49 What makes EA sports a good example of a customer-centric company.
20:20 Answer to why big companies scale too quickly and fail when hitting a certain level?
26:55 The concept of quality interaction over quantity interaction
28:10 How responding to customers needs becomes an issue?
29:50 Distinction between contractual versus non-contractual businesses
33:44 Two metrics that non-contractual businesses should demand to see
34:56 CRM: expectation versus reality

Links And Resource

Become a Member

If you liked this episode, you're going to love the Brand Growth Experts Membership. It’s a community of top ecommerce business owners and marketers who I coach one-on-one to help scale up their businesses. Together we’ll create a plan that will help you scale up your business, and then I’ll help you execute it.

If you want to make sure you’re growing as quickly and sustainably as possible, click here to learn more. Hope to see you on the inside!

423 episodes

#Marketing #Ecommerce #Executive #Optimization #E-Commerce #Tech #E-Commerce Education #Tech Education #Austin Brawner #Buildingabusiness #Business #Industries #Podcasting Education #Conversations #Brand #Entreprenuers #Strategy