Time to Value- What Is It and How Can It Benefit Your Business?
Time to Value (TTV) is a business concept that measures the time between when a customer purchases a product/service and when they start actually deriving value from it.
The shorter this period, the better the perception of customer experience and the longer they stay.
This is perhaps the most critical metric in the fitness industry when it comes to client longevity and retention.
As a fitness entrepreneur, you should be working to decrease Time to Value to the shortest window of time possible to have a strong business.
In this episode, Matt and Rick define TTV (Time to Value) and give examples of how it can help your personal training business.
Tune in to learn more.
Key Takeaways
- What is Time to Value (01:26)
- Why you need to bring TTV to the smallest window possible (02:12)
- Kanter’s law (05:40)
- Measuring the tangibles that affect TTV (07:33)
- The intangibles that impact TTV (13:50)
- How building a community shortens TTV (15:42)
- Increasing stickiness in your business (18:29)
- Why TTV is one of the most important metrics (20:21)
Additional Resources:
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