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

According to the old saying, it is your job to win a customer, rather than winning a customer to make an offer. A single purchase doesn't mean anything in the scheme of things. The most important thing is the customer's lifetime value (CLV). With Jetpack CRM, you have various tools in your arsenal to boost the CLV of your customers.

Remember, it's also much easier to sell to existing customers rather than finding new customers. Customers you have already established already are familiar with you. If they're satisfied with your last experience, they'll be more open to new offers and likely to buy again in the event that you're communicating with them in a manner that serves and values them.

A CRM that is reliable, and one which seamlessly integrates with your existing operations can make this happen.

Learn: What is a CRM?

Jetpack CRM is an excellent choice as it was specifically designed for WordPress and keeps stores in mind. In fact, it's run by the same business that owns .

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

What is customer lifetime value and what's the significance of it?

Which one would you like to achieve in your company:

One sale of $150 but never see this customer again. you can make a sale of $30 with ten additional sales from that same customer over the next two years that add up to $300?

There is no doubt: you take the $330.

However, many companies in the eCommerce industry spend the bulk of their efforts to acquire new customers while ignoring their existing customers. They fail to gather and track the information of the new customers and lose the opportunity to gain repeat customers from their existing customers.

Knowing and understanding your customer's lifetime value provides an opportunity to boost stability and increase profits for your company. It can also help you determine the amount you need to be spending on marketing.

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

However, if you're not sure of your CLV, it's hard to judge if you're using your marketing budget wisely.

What is the average lifetime value of your customers? Jetpack CRM makes that possible as it allows you to keep track of each customer and their spending over their lifetime within your online store and displays all your customers' information in one place.

Understand and respond to customer behaviour

By using Jetpack CRM, you can track all customer transactions.

The Activity Log feature helps keep track of key information about each contact, such as invoices, quotes and modifications to their status and so on. Now, with its free integration with it, you'll have the ability to monitor all of this via your dashboard.

If you understand the actions of your clients, you can create smarter, more personalized, more successful marketing campaigns, and then communicate to generate higher levels of engagement.

Maybe your customer service department can find special ways to reimburse a customer who is unhappy who has a long history of doing business with you. While it could need more work and money than regular, salvaging a relationship that's proven to be valuable can be well worth it.

The possibilities are endless! The point is Jetpack CRM makes this type of data available and it is in your reach so that you can take better decision-making based on the customer's behaviour. This will result in an increase in revenue and the value of a customer's lifetime.

You can create customer segments for on when you market

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

• Purchased during the last three months
• Haven't purchased within the last six months
• Purchased a specific item
• Converted from emails
• Lives within a zip code or the state
• Spent over $150 on at least one purchase
• Use coupon codes

There's no end to this. What can you do to increase your the lifetime value of your customers by taking an individualized segmentation of customers who used at least one coupon code? It is possible to send customers a coupon-based discount in addition to sending a distinct marketing message to everyone else, who may not be so enticed by the cost. This allows you to reach those who are stimulating specifically for them rather than offering discounts to everyone.

What do you think you can make of a group of clients who haven't bought within the past one year? It's possible to create an incentive campaign to reactivate them and offer them some extra incentives to make them return. Based on the success of your campaign, you'll have an idea of how to attract back lapsed customers and increase the lifetime value.

A sporting goods business could ensure that email engagement is high and unsubscribes low through sending out more pertinent emails. For example rather than announcing the purchase of new baseball gear to all the world over, they can mail the announcement out to those who've purchased baseball equipment before. This doesn't mean the other buyers are left out as you could design an individual email to reflect their previous purchases, as well!

Everything and more is possible with a robust CRM like Jetpack integrated with .

More revenue from automated marketing via email and automatization

Another way to increase the value of a customer's lifetime is through email. This has been discussed somewhat, but think about some emails' revenue and ROI figures:

• Customers pay 138% more when email marketing is included in the ways companies reach customers.
• Return on investment for email was discovered to be four times higher than direct mail.
• Open rates for cart abandonment emails are over 40%.
• Personalization via email generates more than six times the revenue as generic emails.

There's a lot more -- but that provides a clear idea of how effective and efficient emails for marketing and automated email can be.

Utilize these methods in conjunction with the customer data from Jetpack CRM to increase the lifetime value of your customers. You can more effectively engage your new and existing clients by providing:

• Abandoned cart emails
• Welcome emails
• Segmented email campaigns
• Automated re-engagement campaigns
• Personalized email communications
• Automatic post-purchase email, similar to reviews requests
• Automated nurture programs

As you can see, the majority of emails is made automated. This is a double win for you, because you'll increase your customers' life-time value, without having to constantly put in work.

Not everything needs to be automated. Segmented campaigns, for example, will be based on the information you have about your customers. It could also be based on what's happening in the world, in the specific city, state or nation, for instance, a release of a new product, the time of year as well as many other factors.

When you use Jetpack CRM you'll have the customer data you need for you to begin using email to the fullest extent as well as your customer's average lifetime value will increase.

Reduce friction and increase collaboration between marketing and sales

If you've missed it It's here! Jetpack CRM now integrates directly into your dashboard free. The service is completely free!

This means that both your marketing and sales staff are now able to access the same data. This means that whether you're putting together advertising campaigns, or your sales representatives are reaching out to specific customers, everyone can see customer transaction histories, details about contact numbers, communications prior to along with other information.

You'll be able to mail invoices and quotations as well as view every customer's accounts on social networks, label them in relation to sales calls and more. See more features of Jetpack CRM.

All of this helps your team of marketing and sales collaborate better. If your sales team is tasked with outreach to a specific group, say then the marketing department is equipped with the appropriate data to create effective messaging and marketing materials for the sales team to utilize.

This integration ensures that everyone is on the on the same level. The internal systems you use will function more smoothly, and your clients will get more personalized, targeted, appropriate marketing and communications.

It results in happy customers who stay longer and purchase more.

Set up and install Jetpack CRM free of charge today begin collecting and using data to enhance your life-time customer value.