This radically changes LTV, as we don't have multi-year timeframes. We currently sell a course as a one-off purchase. We could move to a monthly model, but there are fairly fixed licensing costs.
How would you increase LTV in an industry with quick turnover?
Do you sell just the one course?
Some of these tactics could help you up-sell them on other offerings of yours.
Alternately focusing on getting more customers who abandon your funnel could be a quick win. See last week's post: http://blog.getvero.com/how-flightfox-doubled-their-remarket...
chris AT getvero.com if you want to go into real depth / just have a chat: I'd love to help and get you some more sales personally.
You might not get another sale from the same person, but what is that word of mouth worth to you?
Do you have any details on having used something like this yourself btilly?
So certainly part of the value of a customer is the value of the referrals that they generate.
User remembers hearing about Kaplan/princeton review --> Discovers Kaplan/princeton review sucks --> Discovers test prep forum --> Tries whatever is mentioned there
So we can ask for forum posts sometime after completion.