How can you increase the Value of Customer Lifetime Value using Jetpack CRM

The saying goes that selling is the best way to make a sale to a buyer and not to win customers to gain an offer. A single purchase doesn't mean much in the grand scheme of things. What is important is customer life value (CLV). Using Jetpack CRM software, you have various tools in your arsenal to improve the average CLV of your customers.

It's simpler to market to your existing customers than to find new customers. Your current customers already know who you are, and if they're pleased with the last experience, they'll be more open to new offers and more likely to return -- as long as you're communicating with them in a way which is helpful and respects their needs.

A good CRM, one which seamlessly integrates with the operations you already have allows this to be done.

Find out: What is a CRM?

Jetpack CRM is a great option as it was specifically designed for WordPress and has stores at the top of mind. In fact, it's run by the same business which owns .

This article will help you develop a basic plan for increasing the customer's life benefit by using Jetpack CRM.

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

What would you prefer to accomplish in your company:

Make one sale for $150 but never see that customer again. Or create a sale for $30, followed by ten sales to the same person over the next two years that add the total to $300?

The answer is obvious: you pay the $330.

However, many eCommerce businesses spend the majority of their efforts to win new customers, and neglect their existing ones. They also forget to collect and track the information of new customers, and miss the opportunity to gain repeat customers from their existing customers.

Identifying and understanding your customer lifetime value provides an opportunity to improve stability and profit to your business. This also allows you to determine the amount you need to spend on marketing.

If, for instance, the value of your lifetime customer is $600, then you could justify spending $100 in marketing in order to attract a new client.

However, if you're not sure of your CLV, you'll be unable to know whether you're using your marketing budget wisely.

What is the average lifetime value of your customers? Jetpack CRM can help you do that, because it helps you keep track of every customer's spending throughout the course of their time in your online store, and displays all the customer information in one place.

Be aware of and react to the customer's behavior

By using Jetpack CRM, you can keep track of all customers' transactions.

The activity log feature keeps the track of important information regarding each contact, such as invoices, quotes and updates to their status and more. And now, with its free integration with it, you'll have the ability to keep tabs on all of this from your dashboard.

If you understand what your customers are doing and what they are doing, you can design smarter, more personalized, more successful marketing campaigns, and then engage them to increase the level of involvement.

Perhaps your team of service professionals might be able to find unique ways to ensure a satisfied customer with a lengthy history of doing business with your business. Although it may require more effort and expense than regular, salvaging a relationship that's proved to be beneficial could be worth it.

There are no limits to what you can do! However, the important thing is that Jetpack CRM makes this type of information accessible, and it is in your reach so that you can take better decision-making based on the customer's behaviors. It will lead to an increase in revenue and the value of a customer's lifetime.

Make customer segments that you can use to target on your marketing

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

• Purchased during the last three months
• Haven't made a purchase in the last six months
• I bought a certain product
• Converted from emails
• Lives within a zip code or states
• Spent over $150 for at the very most one purchase
• Utilized a coupon

There's really no limit to this. How could you increase the lifetime value of your customers by taking an individualized segmentation of customers who used at least one coupon? It is possible to send them a coupon-based offer and then send a separate promotional message to the rest of your customers, who may not be as motivated by cost. This lets you reach people in a way that's stimulating specifically for them rather than offering discounts to everyone.

What can you do with a segment of customers who haven't purchased during the last 6 months? It's possible to create an incentive campaign to reactivate them and offer the customers additional incentive to make them return. Based on the results of the campaign, you'll have an idea of what works to draw returning customers who have left and to increase the lifetime value.

A sporting goods business could maintain email engagement levels high and unsubscribes low by sending more relevant emails. In this case, instead of announcing their new baseball equipment to everyone, they could just send the announcement to people who've purchased baseball equipment previously. However, that doesn't mean all other customers are left out You can create an email that is based solely on the purchase history of those who have purchased from them, too!

This and more is possible when you have a powerful CRM such as Jetpack integrated with .

Revenue can be increased through the use of email marketing and automation

A different way to boost customers' lifetime value is to use email. We've already touched on this briefly, but take a look at a few email revenue and ROI stats:

• The average customer spends 138% more when emails marketing is included in the ways companies communicate with customers.
• The ROI of email was determined to be four times more than direct mail.
• Rates of open for cart abandonment emails are over 40%.
• Email personalization produces six times as much revenue as generic emails.

There's more- but that gives you a good sense of how effective and efficient emails for marketing and automated email can be.

Apply these strategies in conjunction with details about customers obtained from Jetpack CRM to improve customer lifetime value. Engage both your current and prospective customers by:

• Cart emails that have been abandoned
• Welcome emails
• Segmented email campaigns
• Automated re-engagement campaigns
• Personalized email communications
• Automated post-purchase emails, like reviews requests
• Automated nurture programs

As you can see, most email communications can be made automated. This can be a double benefit for you because you'll boost your customer's life-time value, without having to keep working.

Not everything requires automation. Segmented campaigns, for example, will take into account your data about customers. They could also depend on what's happening in the worldat large, within one particular state, city or country, brand new launch of a product, holiday events, and so much more.

When you use Jetpack CRM, you'll have the customer data you need to start using email to the fullest extent. Additionally, your average lifetime value will increase.

Reducing friction and increasing collaboration between sales and marketing

If you've missed it If you missed it earlier Jetpack CRM is now integrated directly with your dashboard at free. You can use it for cost-free!

That means your sales and marketing people are now able to access the same information. So whether you're creating marketing campaigns or your sales team is reaching out to specific customers, everyone can see details about customer transactions, their contact information, prior communications along with other information.

You'll be able to send out invoices and quotes and view each client's accounts on social networks, label the accounts based on sales phone calls and more. See more features of Jetpack CRM.

It also helps the sales and marketing teams collaborate better. If your sales team is responsible for outreach to a specific segment, for example then the marketing department will have the proper data to develop effective messages and marketing materials for the sales team to use.

The integration brings everyone to the same page. The internal systems you use will function better, while your clients will get the most personalized, relevant, appropriate marketing and communications.

The result is happier customers who stay longer and spend more.

Install and configure Jetpack CRM today for no cost Start collecting and using data to enhance your life-time customer value.