Phil Risher argues companies obsess over client lifetime value but ignore referral partner lifetime value. Flash's approach: invest in warm referrals instead of paid ads. You can't get lifetime value without a lifetime relationship.
We talk about lifetime value. A lot of times people put it onto their client's lifetime value and they don't attribute it to their referral partner's lifetime value, and they don't spend time building more referral partners because they just see it as it's naturally going to come. It's a big problem that we see when you're talking about lead gen. They're willing to spend money on the Google Gods and get leads coming in, but if you're not focused on building those referral partners, and then they could send you 10 warm leads that are going to close at 60%, it's a huge opportunity for a lot of people. We have a saying at Flash, you can't get lifetime value without a lifetime relationship. And so it's like, you gotta build a relationship to get the lifetime value, whether it's your referral partners or your clients. It's a huge part of growing Business.
