Any guess what the average “lifetime” value of a product or service is?
3 years. It will have reduced by the time you reach the end of this post.
We all know that the average lifespan of an individual has increased dramatically over the past 100 years. So is it any surprise that the “lifetime” of a product or service is shrinking in relation? A mere ten years ago a “lifetime” was valued at 5! The mobile information revolution has made a dramatic impact on perceived shelf-life.
If it hasn’t changed in the past week, something must be wrong.
Market share is dominated by brand loyalty and marketing gurus strive to create “need” desires. To maintain this obsession, products and services must be updated often or the audience will gladly seek someone else who is perceived to be on top of their game.
2 years, 364 days…
