How to Improve the Value of Customer Lifetime Value using Jetpack CRM

The saying goes that you make a sale in order to gain a client instead of gaining customers to gain the sale. One sale doesn't matter much in the grand scale of things. What is important is customer life value (CLV). Utilizing Jetpack CRM you have many tools available to boost the CLV for your clients.

Remember, it's also much easier to sell to existing customers rather than finding new ones. The customers you already have know who you are, and if they're pleased with the recent experience, they'll likely be more open to new offers and likely to buy again provided that you're communication with them in a way that is beneficial and respects them.

An effective CRM that seamlessly integrates into your existing operations allows this to be done.

Learn: What is a CRM?

Jetpack CRM is a great option since it was created specifically for WordPress and has stores at the top of mind. Actually, it's operated by the same company who own .

This article can help you create a plan of action for increasing the customer's life value by using Jetpack CRM.

What is the lifetime value of customers and why does it matter?

What would you prefer to accomplish to grow your business?

Make one sale for $150 and never contact the customer again, or you can make a sale of $30 followed by ten transactions from the same client in the following two years that add the total to $300?

It's obvious that You take the $330.

However, many companies in the eCommerce industry spend the bulk of their marketing efforts trying to attract new customers while ignoring their existing customers. They also forget to collect or track information about the new customers and lose the opportunity to gain repeat customers from them.

Knowing and understanding your customer's lifetime value provides an opportunity to boost stability and increase profits for your company. It also helps you quantify the amount you need to be investing in marketing.

For example, if your average lifetime value for your customers is $600, you can justify investing $100 in marketing to acquire a new client.

But if you don't know your CLV, you'll be unable to know whether you're using your marketing budget wisely.

How can you determine the average lifetime value of your customers? Jetpack CRM allows you to do this as it allows you to maintain track of every single client's expenditure over their lifetime within your online store and displays all the customer information in one place.

Respond to and understand customer behavior

By using Jetpack CRM, you'll be able to track all the transactions of your customers.

The log of activity feature keeps track of key information about each contact, such as quotes, invoices, changes to their status, and so on. Now, with its free integration with it, you'll have the ability to monitor everything via your dashboard.

If you are aware of what your customers ' habits are and what they are doing, you can design smarter targeted, more personal, and more efficient marketing strategies and also engage them to increase the level of interaction.

Perhaps your team of service professionals could find a way to ensure a satisfied customer who has a long history of doing business with your store. Although it may take more time and effort than regular, salvaging a relationship that's established to be successful can be well worth it.

The possibilities are endless! The point is Jetpack CRM makes this type of information available, and it is at your fingertips so you can make smarter decision-making based on the customer's behaviors. The result will be more revenue as well as a higher customer lifetime value.

Make customer segments that you can use to target on when you market

There are many different customer segments you can create with Jetpack CRM. For example, you could classify customers with at least one of the following characteristics:

• Purchased during the last three months
• Haven't purchased within the last six months
• I bought a certain product
• Converted from emails
• Living within a zip or state
• Spent over $150 for at the very the very least one purchase
• Utilized a coupon

There's really no limit to this. What can you do to increase your the value of a customer's lifetime by using one segment from all customers who used at least one coupon code? Send customers a coupon-based discount in addition to sending a distinct promotional message to the rest of your customers and who might not be so enticed by the prices. This lets you reach those who are stimulating specifically for them and not offering discounts to everyone.

What could you make of a group of customers that haven't made a purchase during the last 6 months? It's possible to create an appeal to return customers and provide the customers additional incentive to return. Based on the results of the campaign, you'll have a better idea of the best way to bring new customers back and boost the value of their life.

A sporting goods business could ensure that email engagement is up and the number of unsubscribers down by sending more relevant emails. As an example in lieu of making announcements about their brand new baseball equipment to everybody, they could just mail the announcement out to those who've purchased baseball equipment in the past. However, that doesn't mean all others aren't affected You can create a separate email based on their purchase history, too!

Everything and more is achievable using a powerful CRM system like Jetpack which is integrated with .

Revenue can be increased through the use of email marketing and automation

Another way to increase customer lifetime value is with email. We've discussed this somewhat, but think about some emails' revenue and ROI statistics:

• Customers spend an average of 138% more when email marketing is incorporated into the channels companies employ to connect with customers.
• Return on investment for email was discovered to be 4 times greater than direct mail.
• Rates of open for abandonment emails to carts can be as high as 40%..
• Personalization of emails generates 6 times the amount of profits as emails that are generic.

There's lots more- but that gives you a good sense of just how efficient and effective the use of email marketing and automation is.

Utilize these methods in conjunction with the details about customers from Jetpack CRM to increase customer lifetime value. Engage both your current and prospective clients by providing:

• Emails from abandoned carts
• Welcome emails
• Segmented email campaigns
• Automated re-engagement campaigns
• Personalized email messages
• Automated post-purchase emails, like reviews requests
• Automated nurturing campaigns

As you can see, the majority of emails can be automated. This is a double win for you as you'll boost your customer's longevity without the need to keep working.

However, not everything requires automation. Your segmented campaigns like this one, be based on the information you have about your customers. It could also be based on events happening around the world, in one particular state, city, or country, a brand new launch of a product, holiday events as well as many other factors.

With Jetpack CRM, you'll have the customer data you need in order to use email to its full potential as well as your customer's average life-time value will rise.

Reducing friction and increasing collaboration between sales and marketing

If you didn't know about it It's here! Jetpack CRM has now integrated directly with your dashboard at no charge. You can use it for free!

So your sales and marketing people are now able to access identical data. Therefore, whether you're creating marketing campaigns or your sales representatives are reaching out to specific customers, everyone can see details about customer transactions, their contacts, previous communications along with other information.

You'll be able mail invoices and quotations as well as view every customer's social media profiles, tag them based on sales calls and more. See more features of Jetpack CRM.

It also helps the sales and marketing teams collaborate better. If your sales team is responsible for communicating with a certain segment, for example, the marketing team has the right information to develop effective messages and marketing materials for the sales team to use.

This integration ensures that everyone is on the identical page. Your internal systems will work more smoothly, and your customers will receive better-targeted, personalized pertinent marketing and communication.

This results in happier clients who stick around longer and spend more.

Set up and install Jetpack CRM today for no cost, and start collecting and using data to improve your customer lifetime worth.