by Bob Olson, BestPsychicDirectory.com founder
Dearest psychic or medium, I want to share a secret with you that I think will give you a new career-changing perspective about your calling. And I'll begin with a story. I know a psychic/medium who was publicizing his services with me, and his Featured Listing was working extremely well for him. Long story short, he went from virtually unknown to — about a year and a half later — a six-month waiting list. It’s an extraordinary case, I know, but he was also an excellent psychic and medium.
Then he got invited on a local FM radio show once a week. The radio show appearances made him well known in his local area, and he got lots of fan email from being on that show. Soon his local fame led him to believe all his business was coming from the radio show. So he decided he’d save some money by cancelling his Featured Listing. I encouraged him to ask his clients how they found out about him before cancelling any promotions that worked so well for him for so long, but he said he asked a few clients and he was sure it was the radio.
Well it turned out that people did listen to his radio show, but they weren’t the people calling for readings. Those people merely listened to the show hoping to get free readings on the air. Consequently, after he stopped his Featured Listing, his long waiting list slowly diminished from six months to three months to a waiting list of only two weeks. Six months later, he quit the radio show and went back to his Featured Listing.
The mistake this psychic made is not that he wrongly assumed where his clients came from. No, the mistake he made was in not understanding the true ‘value' of the clients he got from his Featured Listing. Most psychics, as well as most small business people, mistakenly think of the value of their client as the value of the purchase a client makes. For instance, let’s say you sell a reading for $200. You might think that the value of that client is $200, right? That, however, is what most small business owners think, and that mindset is why most small business owners fail in their first five years.
The reality is that your client is worth a lot more than the price of one reading because they’re worth whatever that first reading is PLUS whatever number of readings they might also get that year. PLUS they’re worth whatever readings they might get over the course of the next few years. PLUS they’re worth the value of any other products or services they might buy from you (i.e. workshops). PLUS they’re worth the value of any referrals that they bring in to your business over the next few years. And finally, a big PLUS that almost nobody considers, a new client is worth what you earn from the referrals you get from those referrals.
What’s a Client is Truly Worth!
Your profit from the first reading...
+ profit from future readings...
+ profit from future product or event sales...
+ profit from the ‘lifetime value’ of referrals they send you...
+ profit from the ‘lifetime value’ of referrals from those referrals.
In marketing speak, we call a client’s true worth 'The Lifetime Value of a Client.' So when you understand the Lifetime Value of a Client and a new client walks in your door (or calls you up), you now realize that the value of that new client is worth more like 50 times what you once thought he or she was worth. Let me explain this in a way that will speak directly to you...
Let’s say you charge $150 for a reading. How many readings per year do most of your clients get? My experience with psychics and mediums is that the ‘average’ client will get three readings per year. YES, it’s true. Some clients will only get one. Some will get five. But the average client will get three.
Now let's look at how many years an average client sticks with you. Again, most psychics and mediums tell me that the average client sticks around for three years. Great! That’s 3 readings a year for 3 years, on average. Wow! Let’s do that math… 3 readings (at $150) x 3 years = $1350.
Oh my goodness! Just looking at READINGS ALONE, when a new client calls you, the average lifetime value of your clients is $1350. Isn’t it kind of exciting to think of a new client as being worth $1350 and not $150? But wait, there’s more...
According to 122 psychics and mediums I asked at a workshop I gave, the average number of REFERRALS from an average client is FIVE. I was blown away by this! So now we take our $1350 lifetime value of a client X 5 referrals = $6750. This means that those five referrals alone are worth an additional $6750 to you.
So Where Are We with the Lifetime Value of a Client?
Your first reading profit of $150 X three readings in one year = $450...
+ three years of readings = $1350...
+ lifetime value of 5 referrals = $6750 (1350 X 5)…
ADD THESE TOGETHER TO GET… $1350 ($450 X 3 years) + $6750 ($1350 X 5 referrals) = $8100.
AMAZING TRUTH: The REAL Lifetime Value of a Client for You is $8100.
This means that the ‘average’ new client who walks in your door (if you charge $150 per reading) is worth $8100 to you, including a) the first reading, b) repeat readings from that client, and c) 5 referrals from that client (over the next few years). Now, I don’t know about you, but to me this is exciting.
This doesn’t even include your referrals from your referrals. I won’t even go there. But repeat readings & referrals leads back to the reason the psychic in the story at the top grew so fast and had his waiting list drop so fast. Too many psychics only think about NEW clients, when a big part of their business actually comes from referrals from those new clients. So when your source of new clients stops, so does the repeat readings from them AND any referrals they would send you.
In a way, that’s what I do, isn’t it? I’m that person with a large audience filled with people who enjoy getting readings, and I tell my audience about YOU. Those people get readings from you and then they tell their friends and family about you. And so on, and so on, and so on. So why am I telling you all this?
I’M TELLING YOU THIS FOR TWO REASONS:
ONE, it’s a career-changing truth to understand that your average new client is worth EIGHT THOUSAND DOLLARS to you over the next few years. It’s as simple as ABC: A) It certainly helps you to justify spending money to help people find out about you. B) It definitely encourages you to get your clients’ email addresses to promote future readings. And C) It’s a great example of the importance of asking for referrals. These ABCs are the big takeaway I hope you get from my email today.
TWO, the Featured Listings on Best Psychic Directory cost only $99 per month. So it’s also important to me that you understand this ‘lifetime value’ concept so that you realize how much any new client can be worth to you. In other words, this savvy insight helps you to see the value of what a Featured Listing offers you. Because if you understand this, you’ll understand that just one new client that you get from Best Psychic Directory — yes, just one — could earn you $8100 over the next few years. That's what it cost for a Featured Listing for 6.8 years! Said another way, if you only got one new client in 6.8 years, you’d break even. Talk about a paradigm shift, right?
Of course, you’ll get LOTS OF NEW CLIENTS every year. But even if there's a month here and there that are slower than other months, on average over a year, the Featured Listing pays for itself exponentially. In fact, the other question I'd be asking myself if I were a psychic who just learned about the lifetime value of a client is: How many clients, and therefore how much income, am I MISSING OUT ON if I don’t have a Featured Listing? Hmm?
To sign up for a Featured Listing, just visit https://bestpsychicdirectory.com/plistingpayment.html
If this was enlightening and beneficial to you, I explain this and a whole lot more in my online workshop at https://www.psychicmediumworkshop.com
Have a great day!
Best Psychic Directory
PS, Do you think it’s wrong to do spiritual work for money?