Is a customer that comes from online lead generation worth more to your business?
In a previous article I mentioned the possibility that the customer that comes from online marketing may have higher value to your business.
The customer that walks through the door, hears about you through a friend, or sees a print ad, can all have the same value. They can personally have more immediate value if their purchase is larger than the online lead turned customer. However, the value they bring over time may differ simply because of the referrals they send.
Let us take it to the extreme to illustrate a point.
There is a possibility that the customer that walks in the door does not have an internet connection at home. There is a possibility that they have internet but not a Facebook account. If they do not have a Facebook account then they do not have any Facebook friends.
There is no chance that the customer without a Facebook account can go on Facebook and “Share”, “Suggest”, “Like”, or tell all their friends how great your product or service is.
The customer that was originally a lead from Facebook definitely has a Facebook account. They may have 5 friends on Facebook or they may have 5,000. The possiblity exists and is much more likely than the person that does not even have a Facebook account.
Now imagine having 1,000 customers that ALL came from print ads or 1,000 customers that all came from Facebook ads or other Social Media. Which group is more likely to have a reach of 1 Million friends?
The way in which you get your marketing in front of a new customer may dictate their customer value to you.
Word of mouth has always been important to business and it is more important now as some customers may BLAB about your business to 5,000 people using their cell phone even before they leave your place of business.