In thе есоmmеrсе business, уоu can рісk аll kіndѕ оf numbеrѕ bу which tо judgе аnd аnаlуzе your buѕіnеѕѕ. You саn calculate vіѕіtоrѕ, bounce rates, CTRѕ, соnvеrѕіоn rates, аnd mісrо-соnvеrѕіоn rаtеѕ — аll оf which аrе іmроrtаnt. But thеrе’ѕ аnоthеr mеtrіс, the іmроrtаnсе оf whісh fаr outweighs аll thе оthеrѕ. It’ѕ саllеd LTV — Cuѕtоmеr LіfеTіmе Vаluе. In thіѕ article, I wаnt tо explore the avenues to help іmрrоvе Customer Lіfеtіmе Vаluе fоr your есоmmеrсе buѕіnеѕѕ.
Increase Customer LifeTime Value for an eCommerce Business in 4 simple steps
You may think that creating an email is simple, all you need to do is write a title and a little bit of content, stick in an image and let your email automation program do the rest for you. Well, although we can simplify the process for you, there are still many aspects of your email that need to be considered if you want to create a killer email that converts.
It is time to put to bed all those Email Marketing Myths that are attempting to ruin the reputation of email. Email marketing is not dead, in fact, it is not only alive and kicking, it is a major player in achieving eCommerce success.
Brand loyalty is hard to earn and easy to lose. It takes careful attention to marketing and emphasis on individual customers—far more than just mass appeal. In fact, there’s no better way to earn and keep your customers’ brand loyalty than with personalized product recommendations. They’re so important in fact, that Remarkety has built-in tools to make sure you’re making the right recommendation for each and every customer.
There’s infinite opportunity available to eCommerce marketers who segment their customer email lists. Not only does breaking customers up into groups make it easier to manage different shopper subsets and demographics, it also creates opportunities for marketing via product recommendations. Recommending products to segmented lists is a smart way to realize untapped customer potential.
Trying to get a room full of people to agree on the same thing is hard. But, if you separate people into groups of like-minded individuals, it’s a lot easier to come to a consensus. Email segmentation is the same principle—separating people into groups with common traits and habits, in order to market more effectively. And, once you do this, offering up something like a product recommendation becomes incredibly easy and effective.
The difference between creating a desirable coupon and creating an effective coupon is staggering. It’s the difference between manufacturing false sales and spurring real ones that equate to real dollars. And what many eCommerce operators don’t realize, is that a coupon without a supportive delivery system is a coupon that’s bound to have a negative impact.
For online shoppers, there’s almost nothing more frustrating than getting emails for things that don’t apply to you. A sale email for a product you’ve already bought or a product recommendation email for items you’d never buy is instantly headed for the trash. If it happens frequently enough, an unsubscribe is soon to follow. This is a quick way to alienate your customer base.
The concept of window shopping is certainly alive and kicking when it comes to eCommerce. People around the globe regularly browse the net for products yet frequently fail to make the purchase. You may be wondering why this happens, after all if these people are browsing then surely, they are interested in purchasing, right? Well, quite honestly, we do not know their intent but you should never assume that they aren’t interested. This is where a structured browse abandonment campaign comes into play.
