Teaching2015-01-09·8 min

Maximizing Lifetime Value Customer

Maximizing Lifetime Value Customer

Eben Pagan teaches entrepreneurs how to maximize customer lifetime value by helping customers feel in control and creating wow experiences. He covers the psychology of customer fear, user experience design principles, and storytelling strategies that turn customers into advocates.

Maximizing Lifetime Value Customer

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Key Moments

How to Maximize Customer Lifetime Value Through Control Transfer -- A systematic approach to increasing customer retention and repeat purchases by helping customers feel in control

Every Customer Interaction as an Emotional Opportunity

Every customer interaction is an emotional window of opportunity to make an impression

3:08

How Zappos Creates Wow Experiences Through Generous Returns

Zappos creates wow experiences by paying shipping both ways for returns and delivering exceptional customer service

5:45

UX Design as Customer Experience Art and Science

User experience (UX) design focuses on creating spectacular customer experiences by watching how people use products, identifying problems and challenges, and treating the overall experience as both art and science.

1:38

Giving Customers Stories Worth Sharing with Friends

Give customers stories that help them get attention, impress their friends, and feel important. Since people naturally tell stories to gain social status, provide experiences worth sharing.

3:58

Treating the Sale as a Relationship Beginning Not an End

Take extra time to ensure your customer gets maximum value from your product or service instead of moving on to find the next customer. Treat the sale as the beginning of the relationship, not the end.

6:55

Relevant Clips21

  • How-To

    How to Maximize Customer Lifetime Value Through Control Transfer -- A systematic approach to increasing customer retention and repeat purchases by helping customers feel in control

  • Teaching5:02

    How Zappos Builds Loyalty Through Exceptional Returns Policy

    Zappos creates loyalty through their 'delivering happiness' motto by allowing full refunds with free shipping both ways, letting customers buy multiple items and return unwanted ones, and providing exceptional customer service.

  • Teaching1:38

    UX Design as Customer Experience Art and Science

    User experience (UX) design focuses on creating spectacular customer experiences by watching how people use products, identifying problems and challenges, and treating the overall experience as both art and science.

  • Teaching6:55

    Treating the Sale as a Relationship Beginning Not an End

    Take extra time to ensure your customer gets maximum value from your product or service instead of moving on to find the next customer. Treat the sale as the beginning of the relationship, not the end.

  • Teaching3:58

    Giving Customers Stories Worth Sharing with Friends

    Give customers stories that help them get attention, impress their friends, and feel important. Since people naturally tell stories to gain social status, provide experiences worth sharing.

  • Teaching0:56

    Giving Customers a Sense of Control to Drive Purchases

    Help customers feel in control during every interaction. Identify where they feel out of control and transfer control back to them, which reduces fear and increases confidence to buy more.

  • Teaching0:27

    Customers Fear Looking Foolish More Than Making Wrong Purchases

    Customers feel out of control when buying and want to avoid making mistakes, looking foolish, or being ripped off. The less they know about the product, the more fear they experience.

  • Teaching7:01

    Why Businesses Abandon Customers Right After the Sale

    Most businesses lose momentum after making a sale by abandoning customers instead of seeing it as the beginning of the relationship

  • Teaching1:01

    Transfer Control Back to Customers to Increase Purchase Confidence

    Identifying where customers feel out of control and transferring control back to them increases confidence and purchase likelihood

  • Teaching3:08

    Give Customers Stories That Help Them Impress Others

    Give customers stories that help them get attention, impress friends, and feel important to maximize word-of-mouth marketing

  • Teaching5:45

    How Zappos Creates Wow Experiences Through Generous Returns

    Zappos creates wow experiences by paying shipping both ways for returns and delivering exceptional customer service

  • Teaching1:54

    How Silicon Valley Uses UX Design to Maximize Loyalty

    Silicon Valley companies use User Experience (UX) directors to treat customer experience as both art and science

Show 9 more
  • Teaching3:58

    Storytelling as Social Currency and Status Builder

    People bond and get attention by telling stories, making storytelling a social currency for status and approval

  • Teaching

    Why Customers Feel Out of Control When Buying

    Customers feel out of control when buying, leading to fear that prevents purchases and reduces lifetime value

  • Teaching6:55

    Extra Post-Sale Attention Maximizes Customer Lifetime Value

    Take extra time right after making a sale to ensure customers get maximum value from your product or service

  • Teaching3:08

    Every Customer Interaction as an Emotional Opportunity

    Every customer interaction is an emotional window of opportunity to make an impression

  • Quotable6:51

    Post-Sale Momentum Collapse Abandons Existing Customers

    It's easy to lose momentum right after you've made a sale. It feels like the hard part is over, so most businesses move on to getting the next customer and they kind of abandon their customers.

  • Quotable4:28

    Giving Customers Stories That Make Them Look Good

    Since your customers are going to be telling stories anyway, give them stories that help them get attention, impress their friends, and feel important.

  • Quotable0:35

    Why Customers Fear Being Ripped Off or Looking Foolish

    Customers feel out of control. When buying something, each of us wants to avoid making a mistake, looking foolish, or being ripped off.

  • Quotable3:08

    Every Customer Touchpoint Is an Emotional Impression

    Every time you interact with a customer, it's an opportunity to make an emotional impression every time.

  • Quotable0:50

    Making Customers Feel in Control to Make Them Love You

    Anything you can do to help your customers feel like they are in control will make them love you.

Entities Touched

Canonical Teachings

The Psychology of Customer Control and Fear

Eben explores how customers feel out of control during purchases, leading to fear that prevents buying decisions. He explains that identifying where customers feel powerless and transferring control back to them increases confidence and purchase likelihood.

User Experience Design as Competitive Advantage

Drawing from Silicon Valley practices, Eben discusses how successful companies employ UX directors to treat customer experience as both art and science. These professionals observe real customers using products to identify pain points and create spectacular experiences.

Storytelling as Social Currency for Customer Advocacy

Eben reveals how people naturally use stories to gain attention and social status. He teaches entrepreneurs to give customers experiences worth sharing that help them impress friends and feel important, turning customers into advocates.

Post-Sale Relationship Building and Wow Experiences

Using Zappos as an example, Eben shows how to create customer loyalty through exceptional post-sale experiences. He emphasizes treating sales as relationship beginnings rather than endpoints, taking extra time to ensure customer success.