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Episode Info

Episode Info:

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!

 

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