How to Increase Your Customer Lifetime Value

September 6, 2021

Customer lifetime value (CLV) is one of the best ways of being able to grow your business. There are plenty of factors you have to keep in mind when it comes to boosting and improving your business, and this is something that you need to plan for. Teaming up with a professional digital marketing agency in Kent is one of the best ways of being able to boost and improve the company, and this can help with your CLV.

Being able to increase customer lifetime value is one of the best things that you can do to help the brand grow. Retaining existing customers and improving their lifetime value is a more effective strategy than acquiring new customers. In fact, there are plenty of ideas that play a part in this, and statistics show the probability of selling to an existing customer is around 70%. This shows how important customer retention is, so here are some of the key tips to help increase your customer lifetime value.

Improve Onboarding

The onboarding process is one of the most important when it comes to increasing CLV and ensuring sustainable business growth. Poor onboarding is believed to be the leading cause of churn (23%), and that’s why it’s so important to make sure your customers engage with you and your product as smoothly and effectively as possible. A strategic onboarding process can make such a big difference to the success you might have as a business.

Focus on Content

There are so many factors that can improve the customer experience, and one of the key ones is making sure you focus on the best quality content. Email marketing is one of the best ways of improving content and engaging with customers. Automated campaigns are less good as they don’t represent value. Instead, you should focus on sending bespoke, value-driven content. 

Provide Amazing Customer Service

Something that is going to keep customers coming back over and over is making sure you have excellent customer service. People like to people like they are being looked after and taken care of, and this is something that you can achieve for effective customer service. Things like 24/7 customer support, live chat, ticketing, phone and email, and more all play a part in helping provide the best possible customer service moving forward. 

Increasing your customer lifetime value is so important for helping your company to be more of a success. There are a lot of factors that you should be looking to make the best of here, and coming up with ways of improving CLV is one of the best things you can do to improve upon this. Make sure you work with your chosen Kent digital agency in order to get the best of this.

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