How can you increase Customer Lifetime Value Using Jetpack CRM

The saying goes that you make a sale to make a sale to a buyer, rather than winning customers to gain a sale. One sale doesn't matter anything in the scale of things. What is important is customer life value (CLV). With Jetpack CRM you can have various tools in your arsenal to improve the average CLV of your clients.

It's more straightforward to pitch your services to current clients than it is to attract new ones. Your current customers already are familiar with you. If they're pleased with the previous experience, they'll be open to future offers and likely to buy again provided that you're communicating to them in a way that is beneficial and respects them.

A good CRM, one which seamlessly integrates with the operations you already have can make this happen.

Discover: What is a CRM?

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

This article can help you make a simple plan to increase your customer's lifetime value by using Jetpack CRM.

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

Which would you rather achieve to grow your business?

Make one sale for $150 and never contact this customer again. create a sale for $30, followed by ten sales from that same customer in the following two years which adds up to $330?

It's obvious that you take the $330.

Yet, a lot of eCommerce businesses spend the majority of their efforts to attract new customers while ignoring their existing customers. They fail to gather and track the information of prospective customers, leaving open chances to earn repeat business from these customers.

Identifying and understanding your customer lifetime value can provide an opportunity to boost stability and increase profits for your business. It also helps you quantify the amount you need to spend on marketing.

In the example above, if the value of your lifetime customer is $600, you can justify spending $100 in marketing to acquire a new client.

If you're not aware of your CLV, it's hard to know whether you're using your marketing budget in a wise way.

How can you determine your average customer lifetime value? Jetpack CRM allows you to do this as it allows you to keep track of each customer's spending throughout their life within your online store and displays all the customer information in one place.

Be aware of and react to the customer's behavior

With Jetpack CRM, you'll be able to monitor all your customer transactions.

The activity log feature keeps records of the most important details about each contact, such as quotes, invoices, updates to their status and so on. It is now possible, with its free integration with the activity log, you'll be able to monitor the entire process via your dashboard.

If you understand what your customers are doing and what they are doing, you can design smarter and more customized, efficient marketing strategies and also engage them to increase the level of engagement.

Perhaps your service team could find a way to compensate a disappointed customer with a lengthy experience with your store. While it could need more work and money than usual, preserving the relationship you've proved to be beneficial is well worth the effort.

There are no limits to what you can do! However, the important thing is that Jetpack CRM makes this type of information accessible, and keeps it accessible so that you can take better decisions in response to customer behavior. The result will be higher revenue and a greater customer lifetime value.

You can create customer segments for your marketing

There are a variety of customer segments that you can design with Jetpack CRM. As an example, you can group customers who have at least one of the following attributes:

• Purchased within the last three months
• Haven't bought anything in the past six months
• I bought a certain product
• Converted from emails
• Living within a zip or the state
• Spent over $150 for at the very most one purchase
• Use coupon codes

There's really no limit for this. How could you increase the lifetime value of your customers by taking an individualized segmentation of customers who used at least one coupon code? Send customers a coupon-based discount, while emailing a different advertising message to all other customers, who may not be more motivated by cost. It allows you to communicate with people in a way that's specific to their needs, instead of discounting your products for everyone.

What can you use a section of customers that haven't made a purchase within the past 6 months? It's possible to create a reactivation campaign and give the customers additional incentive to return. Based on the performance of that campaign, you'll be able to get a better idea of what works to draw back lapsed customers and increase the lifetime value.

An organization that sells sporting goods could maintain email engagement levels at a high level and reduce unsubscribes by sending relevant emails. As an example rather than announcing the purchase of brand new baseball equipment to everybody it is possible to mail the announcement out to those who've bought baseball equipment before. That doesn't mean that other customers are left out as you could design a separate email based on their purchase history, too!

This and more is achievable using a powerful CRM such as Jetpack which is integrated with .

Increase revenue through email marketing and automation

Another way to increase customer lifetime value is with emails. We've discussed this somewhat, but think about a few results from email and statistics:

• The average customer spends an average of 138% more when email marketing is included in the ways companies communicate with their customers.
• Email ROI was found to be 4 times greater than direct mail.
• The open rates for abandonment emails to carts can be as high as 40%..
• Personalization via email generates 6 times the amount of income as general emails.

There's a lot more -however, this gives you a good sense of how effective and efficient email marketing and email automation can be.

Use these strategies alongside the details about customers obtained from Jetpack CRM to improve the value of a customer's lifetime. It is easier to engage with your existing and new customers by:

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

It's clear that so much of email communication can be made automated. This can be a double benefit for you because you'll boost your customer's lifetime value without having to constantly put in work.

But not all of it must be automated. Your segmented campaigns, for example, will depend on your customer data. It could also be based on events happening around the world, in one particular state, city or nation, for instance, a brand new launch of a product, holiday events, and so much more.

When you use Jetpack CRM you'll have all the information about your customers that you require to start using emails to their fullest potential, and your average customer life-time value will rise.

Reducing friction and increasing collaboration between marketing and sales

If you didn't know about it If you missed it earlier Jetpack CRM is now integrated directly with your dashboard at absolutely no cost. The service is completely absolutely free!

This means that your sales and marketing people will now have access to the same information. Therefore, whether you're creating marketing strategies or sales team is trying to reach out to customers anyone can access customer transaction histories, contacts, previous communications, and additional data.

It will be possible to issue invoices and quote as well as view every customer's accounts on social networks, label them based on sales calls and more. See more features of Jetpack CRM.

This helps your sales and marketing teams coordinate their efforts better. If the sales team has been assigned the task of reaching out to a particular group, say then the marketing department is equipped with the appropriate data to create effective messaging as well as materials for your sales staff to make use of.

This integration puts everyone on the identical level. Your internal systems will work better, while your customers will receive more personalized, targeted, appropriate marketing and communications.

The result is happier customers who are more loyal and spend more.

Install and configure Jetpack CRM for free today begin making use of data and collecting it to increase your lifetime customer worth.