Ready for Revenue Growth?
We get it–revenue is a huge key to your brand’s success. So we understand the urge to focus solely on conversions. However, there really is more to it than just making a sale. Let’s talk about how to ensure strong results for years to come–Lifetime Value.
What exactly is lifetime value? LTV is an estimate of the total revenue a customer will generate throughout their entire time as a client. Why is it important? It’s a good way to measure the overall satisfaction and loyalty of your customers–therefore giving you insight into which areas you should allocate your budget, attention & effort to.
This brings us to our next question–once your LTV is established, which areas should you be giving you attention to? We’ve put together a list of things to consider when evaluating your brand’s current LTV–how to increase, leverage, and sustain it.
driving site traffic
Of course you want people to visit and click around on your website, but how do you know when it’s time to put forth that extra effort into this? Here are a few examples of some signs to pay attention to: lacking email engagement, stagnant subscriber numbers & low paid social ad performance. Driving higher site traffic could help increase these stats and your customer lifetime value.
stellar email marketing flows
Having a solid foundation of email flows keeps your customers engaged with your brand, returning to your site, and leads them from their first purchases with you to their 3rd, 4th and beyond.
Pro tip: Our Email + SMS Marketing team can help you do this and more.
website optimizations
We’re talking in-cart recommendations, clear and concise return policies, a $ countdown to free shipping, up-to-date reviews, video content, and more. The goal is not just to have people visit your website, but for them to also engage with your brand.
Pro tip: We offer a FREE website audit for all of our new clients.
loyalty program
Not only do loyalty programs contribute to LTV, but it can also help increase your AOV. Decide which loyalty company works best for your audience and see your bottom line continue to soar. Our recommendations to help you implement this loyalty program are Smile.io and Yotpo.
vip perks
Who doesn’t love a little perk or two? Consider segmenting a group of your customers and giving them exclusive perks to look forward to. For example, early access to sales, first look at new arrivals, free shipping, gifts with purchase, and more. You can never go wrong letting your customers know how much you appreciate them.
We hope this gave you a few ideas on how to best leverage your resources to up that LTV. The equation to remember is:
driving repeat customers faster + increasing AOV + creating loyalty = a strong LTV (lifetime value)
Ready to talk strategy? Set aside 30 minutes to chat with us and learn more about Milked Media & how we can help you accomplish your goals and more.