How to increase your customer's lifetime value
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How to increase your customer's lifetime value
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Every customer has a lasting value at work. You know, dear reader.
This is called CLV, the customer's lifetime value. This is the amount you can earn from each customer when they get into your product funnel.
By understanding your CLV, you can determine how much you will spend on marketing and also identify ways to expand your CLV.
Become more customer-oriented
Customer service is one of the most important parts of a company. Even if you have the best products or services in the world, it won't be long before your customer service is lacking. If you want returning buyers, treat your customers with the importance they deserve.
Generate additional targeted sales
You can easily create an automated system to include additional sales in the purchasing process. You can do this, for example, in the shopping cart or via follow-up emails.
Create logical cross-selling
Cross-selling simply means selling another product to an existing customer. You need to link to your target audience, but you don't have to link to the first product you sold to them like an additional sale.
Be receptive
It is imperative that you set up a system that makes you appear very responsive to your customers. It doesn't matter whether it's a ticket system, a 48-hour response policy, or business hours. However, it should be considered very responsive to keep your customers happy.
Offer more
Every product or service you deliver must be better than what the customer expects. The point is, it won't always appeal to everyone, but it can outperform. If a customer is not satisfied, their solution can deliver more than their account to solve their problem.
Create a referral program
Let your customers earn money or points by recommending it to others. When people can make enough money to support their buying habits, they're more likely to spend money on you. It's a win-win in every way.
Stay in contact
Find ways to keep in touch with your audience, including B. Social media, email, and webinars. The more they can communicate with you, the happier they will be and the more your CLV will develop.
Develop an inner circle
One way to expand your CLV is to provide a paid inner circle that some customers can join. It can be in a private forum or even managed by Facebook. You can use a private Facebook group or create your own forum using native software.
