What is customer lifetime value anyway? It’s how much net profit one customer can generate for your brand over time. it’s common sense that a brand wants to keep their customers for a long time. Customer loyalty plays an important role in revenue and word of mouth marketing. So, how do you keep your customers for the long haul? Here are some of our tips to improve your customer lifetime value.
1. Feature your customers in your content: this will keep your audience engaged and let them know that you appreciate them!
2. Take your audience’s advice: create polls & surveys to find out what they want. Keep an eye on impressions on social media, comments, reviews, etc. Collect and implement. Again, they will feel heard and appreciated on top of receiving what they asked for.
3. Personalize! People spend more money on brands that personalize their experience and about 81% of people expect it anyhow.
4. Great customer service: offer 24/7 service if you can. Make sure that each person on every channel can help them instead of sending them somewhere else to solve their problems.
5. Give your audience something that others don’t! provide incredible value. Not through discounts but your product/service. Be more convenient than other brands and make quality your top priority. If you have a customer centric approach with their needs at the heart of your brand, it should ensure the right decisions that will keep them around.
Valuing your customers, whether it’s a B2B or B2C situation, will show that you have them at the top of mind when making decisions. They will feel heard, seen and their loyalty to you in return will skyrocket.
