Analyse your products from a lifetime value perspective The Journey w/ Jason Le

Many businesses fail to analyse the impacts of promoting multiple SKUs

The lifetime value of your customers is different depending on which products your customers bought first

Think about the user journey for each product

From the point of unboxing your product
To feeling the quality your product
To using your product

Each product has a different experience

And, most of the time, your most popular products have that "magic moment" that makes your customers fall in love with your brand and buy more

The mistake brand owners make is thinking every product has this magic moment

As a result, they promote 100's of different SKUs for new customers

But, what if the first product a new customer buys from you isn't your best product?

Your customers have a terrible experience and don't end up becoming a long-term customer

Because the only time your new customers gave you a chance, you blew it

So, it's in our best interest that if we want to scale, we want to control the user experience and ensure any new customers we bring onboard have the best purchase experience as possible

And the way to do that, is to focus on the products that produced the highest LTV overtime

Don't just analyse the effectiveness of products from a 1-time purchase

Analyse your products from a lifetime value perspect