Because the adage goes, you make a sale to win a buyer, fairly than successful a buyer to make a sale. A single buy doesn’t imply a lot within the grand scheme of issues. What issues is buyer lifetime worth (CLV). Utilizing Jetpack CRM, you’ve quite a few instruments at your disposal to extend the common CLV of your prospects.
Bear in mind, it’s additionally a lot simpler to promote to current prospects than to seek out new ones. Your present prospects already know you, and in the event that they had been happy with their final expertise, they’ll be open to future provides and sure to purchase once more — so long as you do the work of speaking with them in a manner that serves and values them.
A very good CRM, one which intuitively integrates together with your current operations, makes this attainable.
Study: What’s a CRM?
Jetpack CRM is a good possibility as a result of it was designed only for WordPress and with WooCommerce shops top-of-mind. In reality, it’s run by the identical firm that owns WooCommerce.
This text will aid you develop a fundamental plan for growing your buyer lifetime worth utilizing Jetpack CRM.
What’s buyer lifetime worth and why does it matter?
Which might you fairly obtain for your small business:
Make one sale for $150 however by no means see the shopper once more, or make a $30 sale after which ten extra gross sales from that very same buyer over the subsequent two years that add as much as $330?
The reply is apparent: you’re taking the $330.
And but, so many eCommerce companies spend the vast majority of their advertising and marketing efforts attempting to win new prospects, and neglect their current ones. In addition they neglect to gather or observe details about new prospects, and miss alternatives to generate repeat enterprise from them.
Figuring out and understanding your buyer lifetime worth supplies a chance to enhance stability and revenue for your small business. It additionally helps you quantify how a lot you ought to be spending on advertising and marketing.
For instance, in case your buyer lifetime worth is $600, you possibly can justify spending $100 in advertising and marketing to amass a brand new buyer.
However if you happen to don’t know your CLV, it’s arduous to know whether or not you’re utilizing your advertising and marketing price range correctly.
How are you going to decide your common buyer lifetime worth? Jetpack CRM makes that attainable, as a result of it helps you retain observe of each buyer and their spending over their lifetime in your on-line retailer, and reveals you all your buyer knowledge in a single place.
Perceive and reply to buyer habits
With Jetpack CRM, you possibly can preserve observe of all buyer transactions.
The exercise log characteristic retains observe of key details about every contact, equivalent to quotes, invoices, modifications to their standing, and far more. And now, with its free integration with WooCommerce, you possibly can preserve tabs on all of this out of your WooCommerce dashboard.
When you recognize what your prospects are doing, you possibly can create smarter, extra personalised, more practical advertising and marketing campaigns and talk to generate increased ranges of engagement.
Maybe your service staff can discover particular methods to compensate a dissatisfied buyer who has an extended historical past of doing enterprise together with your retailer. Although it would require extra effort and expense than regular, saving a relationship that’s confirmed to be helpful might be properly value it.
The probabilities are limitless! However the level is that Jetpack CRM makes this sort of data accessible, and retains it at your fingertips so you may make smarter selections in response to buyer habits. This may lead to increased income and a larger buyer lifetime worth.
Create buyer segments to focus your advertising and marketing
There are all types of buyer segments you possibly can create utilizing Jetpack CRM. For instance, you can group prospects who’ve a number of of the next attributes:
- Bought throughout the final three months
- Haven’t bought throughout the final six months
- Purchased a selected product
- Transformed from emails
- Lives inside a zipper code or state
- Spent over $150 on no less than one buy
- Used a coupon code
There’s actually no restrict to this. How might you improve buyer lifetime worth with a phase of all the purchasers who used no less than one coupon code? You could possibly ship them a coupon-based provide, whereas emailing a distinct advertising and marketing message to everybody else, who is probably not as motivated by worth. This lets you attain individuals in a manner that’s motivating particularly to them, as an alternative of discounting your merchandise for everybody.
What might you do with a phase of shoppers who haven’t bought within the final six months? You could possibly create a reactivation marketing campaign and provides them some further incentives to return again. Primarily based on the success of that marketing campaign, you’ll have a greater concept of what works to attract again lapsed prospects and improve their lifetime worth.
A sporting items enterprise might preserve electronic mail engagement charges excessive and unsubscribes low by sending extra related emails. For instance, as an alternative of asserting their new baseball gear to everybody, they might simply ship the announcement to individuals who’ve bought baseball gear previously. That doesn’t imply that different prospects are ignored — you possibly can design a separate electronic mail primarily based on their buy historical past, too!
All of this and far more is feasible when you’ve a strong instrument like Jetpack CRM built-in with WooCommerce.
Enhance income via electronic mail advertising and marketing and automation
One other technique to improve buyer lifetime worth is with electronic mail. We’ve already touched on this somewhat, however think about a couple of electronic mail income and ROI stats:
- Clients spend 138% extra when electronic mail advertising and marketing is included into the touchpoints corporations use to succeed in them.
- Electronic mail ROI was discovered to be 4 occasions increased than unsolicited mail.
- Open charges for cart abandonment emails are over 40%.
- Electronic mail personalization produces six occasions as a lot income as generic emails.
There’s much more — however that offers you a great sense of how efficient and environment friendly electronic mail advertising and marketing and electronic mail automation might be.
Use these methods alongside the shopper knowledge from Jetpack CRM to extend buyer lifetime worth. You possibly can extra successfully interact your new and current prospects with:
- Welcome emails
- Segmented electronic mail campaigns
- Automated re-engagement campaigns
- Personalised electronic mail communications
- Automated post-purchase emails, like evaluate requests
- Automated nurture campaigns
As you possibly can see, a lot of electronic mail communication might be automated. This can be a double win for you, since you’ll be growing your buyer lifetime worth with out having to continuously put in work.
However not all of it must be automated. Your segmented campaigns, for instance, will rely in your buyer knowledge. They may additionally depend upon what’s occurring on this planet, in a selected metropolis, state, or nation, a brand new product launch, holidays, and a lot extra.
With Jetpack CRM, you’ll have the shopper knowledge it is advisable begin utilizing electronic mail to its full potential, and your common buyer lifetime worth will improve.
Scale back friction and improve collaboration between gross sales and advertising and marketing
In the event you missed it earlier — Jetpack CRM now integrates straight together with your WooCommerce dashboard at no cost. It’s fully free!
Which means your gross sales and advertising and marketing individuals can now have entry to the identical knowledge. So whether or not you’re creating advertising and marketing campaigns or your gross sales individuals are reaching out to particular prospects, everybody can see buyer transaction histories, contact data, prior communications, and extra knowledge.
You’ll be capable to ship out invoices and quotes, see every buyer’s social media profiles, tag them primarily based on gross sales calls, and far more. See extra options of Jetpack CRM.
All of this helps your gross sales and advertising and marketing groups coordinate their efforts higher. If the gross sales staff is tasked with reaching out to a selected phase, for instance, the advertising and marketing staff could have the right knowledge to create efficient messaging and supplies for the gross sales staff to make use of.
This integration places everybody on the identical web page. Your inside methods will work extra easily, and your prospects will obtain extra personalised, focused, and related advertising and marketing and communications.
The result’s happier prospects who keep longer and purchase extra.
Set up and arrange Jetpack CRM free of charge at present, and begin accumulating and utilizing knowledge to extend your lifetime buyer worth.