Because the adage goes, you make a sale to win a buyer, reasonably 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 may have quite a few instruments at your disposal to extend the common CLV of your prospects.
Keep in mind, it’s additionally a lot simpler to promote to current prospects than to search 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 affords and sure to purchase once more — so long as you do the work of speaking with them in a method that serves and values them.
An excellent CRM, one which intuitively integrates together with your current operations, makes this attainable.
Study: What’s a CRM?
Jetpack CRM is a superb 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 make it easier to develop a primary plan for rising your buyer lifetime worth utilizing Jetpack CRM.
What’s buyer lifetime worth and why does it matter?
Which might you reasonably obtain for what you are promoting:
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 following 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 making an attempt to win new prospects, and neglect their current ones. Additionally they overlook to gather or monitor details about new prospects, and miss alternatives to generate repeat enterprise from them.
Figuring out and understanding your buyer lifetime worth supplies a possibility to enhance stability and revenue for what you are promoting. It additionally helps you quantify how a lot you have to be spending on advertising and marketing.
For instance, in case your buyer lifetime worth is $600, you’ll be able to justify spending $100 in advertising and marketing to amass a brand new buyer.
However when you don’t know your CLV, it’s arduous to know whether or not you’re utilizing your advertising and marketing price range properly.
How are you going to decide your common buyer lifetime worth? Jetpack CRM makes that attainable, as a result of it helps you retain monitor of each buyer and their spending over their lifetime in your on-line retailer, and reveals you all your buyer information in a single place.
Perceive and reply to buyer habits
With Jetpack CRM, you’ll be able to maintain monitor of all buyer transactions.
The exercise log function retains monitor of key details about every contact, reminiscent of quotes, invoices, modifications to their standing, and far more. And now, with its free integration with WooCommerce, you’ll be able to maintain tabs on all of this out of your WooCommerce dashboard.
When you realize what your prospects are doing, you’ll be able to create smarter, extra personalised, more practical advertising and marketing campaigns and talk to generate greater ranges of engagement.
Maybe your service staff can discover particular methods to compensate a disenchanted buyer who has an extended historical past of doing enterprise together with your retailer. Despite the fact that it’d require extra effort and expense than regular, saving a relationship that’s confirmed to be invaluable could be nicely value it.
The probabilities are countless! However the level is that Jetpack CRM makes one of these info obtainable, and retains it at your fingertips so you can also make smarter choices in response to buyer habits. This can end in greater income and a higher buyer lifetime worth.
Create buyer segments to focus your advertising and marketing
There are all types of buyer segments you’ll be able to create utilizing Jetpack CRM. For instance, you possibly 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 at the very least one buy
- Used a coupon code
There’s actually no restrict to this. How might you enhance buyer lifetime worth with a phase of all the shoppers who used at the very least one coupon code? You could possibly ship them a coupon-based supply, whereas emailing a distinct advertising and marketing message to everybody else, who will not be as motivated by value. This lets you attain folks in a method that’s motivating particularly to them, as a substitute 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. Based mostly on the success of that marketing campaign, you’ll have a greater concept of what works to attract again lapsed prospects and enhance their lifetime worth.
A sporting items enterprise might maintain e mail engagement charges excessive and unsubscribes low by sending extra related emails. For instance, as a substitute of saying their new baseball tools to everybody, they might simply ship the announcement to individuals who’ve bought baseball tools up to now. That doesn’t imply that different prospects are unnoticed — you’ll be able to design a separate e mail based mostly on their buy historical past, too!
All of this and far more is feasible when you may have a robust device like Jetpack CRM built-in with WooCommerce.
Improve income by way of e mail advertising and marketing and automation
One other strategy to enhance buyer lifetime worth is with e mail. We’ve already touched on this slightly, however think about just a few e mail income and ROI stats:
- Clients spend 138% extra when e mail advertising and marketing is integrated into the touchpoints firms use to achieve them.
- E-mail ROI was discovered to be 4 occasions greater than junk mail.
- Open charges for cart abandonment emails are over 40%.
- E-mail personalization produces six occasions as a lot income as generic emails.
There’s much more — however that provides you a superb sense of how efficient and environment friendly e mail advertising and marketing and e mail automation could be.
Use these methods alongside the shopper information from Jetpack CRM to extend buyer lifetime worth. You’ll be able to extra successfully interact your new and current prospects with:
- Welcome emails
- Segmented e mail campaigns
- Automated re-engagement campaigns
- Customized e mail communications
- Automated post-purchase emails, like overview requests
- Automated nurture campaigns
As you’ll be able to see, a lot of e mail communication could be automated. It is a double win for you, since you’ll be rising your buyer lifetime worth with out having to always put in work.
However not all of it must be automated. Your segmented campaigns, for instance, will rely in your buyer information. They might additionally rely on what’s taking place 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 information you must begin utilizing e mail to its full potential, and your common buyer lifetime worth will enhance.
Cut back friction and enhance collaboration between gross sales and advertising and marketing
If you happen to 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 folks can now have entry to the identical information. 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 info, prior communications, and extra information.
You’ll be capable of ship out invoices and quotes, see every buyer’s social media profiles, tag them based mostly 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 correct information 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 inner techniques 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 without spending a dime right this moment, and begin amassing and utilizing information to extend your lifetime buyer worth.
