Prevent Churn Now that you now know the Average Order Value and Purchase Frequency of your customers, the door is open for personalized messaging to send the right offer to the right person at the right time. Finding your Customer Lifetime Value will make you think, not just about the sale, but about the full customer journey: when, where, why, for how much, and how often do your customers make a purchase.
In addition, every month, Swiss Rasoi hosts flash sales you can only find on their social media channels —— specifically Facebook.
Offer a Loyalty Program Want your customer lifetime value to shoot through the roof? Customers who buy your machine might also want the detergent made specifically for it, and might therefore become recurring customers.
An acceptable ROAS is influenced by profit margins, operating expenses, and the overall health of the business. In addition to acquisition sources and spending, you can also compute segment CLVs by which product was first purchased or most popular product category, to name a few.
The CLV is equal to the total value of each transaction multiplied by your average gross margin. After speaking with Trevor Taylor, founder of The Cloud Alchemist, I learned that their ecommerce customer loyalty strategy is all about being personable and connecting with their customers, as demonstrated by how frequently they engage directly with their customers to add value.
By delivering great hairpieces at the best possible prices, Super Hair Pieces has created a fighting force within the hair pieces industry.
They design and produce their own products, from initial design, down to laboratory production.
The money they save with a lean strategy, they pass on to their customers.