How to Increase Customer Lifetime Value Using Jetpack CRM

As the adage goes, selling is the best way to make a sale to a buyer and not to win a customer to make a sale. One purchase isn't worth much in the grand scale of things. What is important is customer life value (CLV). With Jetpack CRM you will have numerous tools at your disposal to boost the CLV of your clients.

It's more straightforward to pitch your services to current clients than it is to attract new ones. The customers you already have know who you are, and if they're pleased with the last experience, they'll be more open to new offers and likely to buy again -- as long as you're engaging with them in a manner which is helpful and respects their needs.

An effective CRM that seamlessly integrates into the existing processes can make this happen.

Discover: What is a CRM?

Jetpack CRM is an ideal choice as it was specifically designed for WordPress and keeps stores in mind. It's actually run by the same business that owns .

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

What is customer lifetime value and why does it matter?

What would you prefer to accomplish for your business:

One sale of $150 and never contact this customer again. make a $30 sale followed by ten transactions from the same client in the following two years which adds the total to $30?

There is no doubt: You take the $330.

And yet, so many companies in the eCommerce industry spend the bulk of their marketing efforts trying to acquire new customers and neglect their existing ones. They fail to gather or keep track of information on the new customers and lose the opportunity to gain repeat customers from them.

Understanding and identifying your customers' lifetime value provides an opportunity to boost stability and increase profits for your company. It can also help you determine how much you should spend on marketing.

For example, if the value of your lifetime customer is $500, you may justify investing $100 in marketing in order to attract a new customer.

But if you don't know your CLV, you'll be unable to judge if you're using the budget for marketing wisely.

What is the value of your customer's lifetime? Jetpack CRM makes that possible as it allows you to keep track of each customer's spending throughout their lifetime on your store's website, and also displays all your customers' information at a single location.

Respond to and understand customer behaviour

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

The log of activity feature keeps the track of important information regarding every contact, including invoices, quotes and modifications to their status and much more. And now, with its free integration with the activity log, you'll be able to monitor all of this via your dashboard.

If you are aware of the actions of your clients to make better, more personalized, more successful marketing campaigns, and then create more effective communication to boost levels of interaction.

Maybe your customer service department might be able to find unique ways to compensate a disappointed customer who has a relationship with your business. Although it may take more time and effort than usual, preserving an existing relationship which has proven to be valuable is well worth the effort.

The possibilities are endless! But the point is that Jetpack CRM provides this kind of information accessible, and it is accessible so that you can take better choices based on customer behavior. It will lead to an increase in revenue and customer lifetime value.

You can create customer segments for on your marketing

There are many different customer segments that you can design by using Jetpack CRM. You could, for instance, classify customers with one or more of these attributes:

• Purchased during the last three months
• Haven't bought anything in the past six months
• Bought a particular item
• Converted to email
• Living within a zip or the state
• Spent over $150 on at least one purchase
• Utilized a coupon

There's no end for this. How could you increase the value of a customer's lifetime by using an individualized segmentation of people who've used at minimum one coupon? It is possible to send customers a coupon-based discount in addition to sending a distinct promotional message to the rest of your customers and who might not be as motivated by cost. It allows you to communicate with those who are specific to their needs rather than pricing your goods for all.

What do you think you can use a section of customers that haven't made a purchase in the last one year? Create an incentive campaign to reactivate them and offer customers additional incentives to make them return. Based on the success of the program, you'll get a better idea of how to attract returning customers who have left and to increase the lifetime value.

An organization that sells sporting goods could keep email engagement rates high and unsubscribes low by sending relevant emails. As an example rather than announcing the purchase of new baseball equipment to everyone the world over, they can mail the announcement out to those who've bought baseball equipment before. This doesn't mean others aren't affected as you could design a separate email based on their previous purchases, as well!

Everything and more is achievable using a powerful CRM like Jetpack integrated with .

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

Another way to increase the value of a customer's lifetime is through emails. We've discussed this a little, but consider a few emails' revenue and ROI statistics:

• Customers pay an average of 138% more when email marketing is integrated into the touchpoints companies use to communicate with customers.
• Return on investment for email was discovered to be four times higher than direct mail.
• The open rates for abandonment emails to carts are over 40%.
• Personalization of emails generates six times as much income as general 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.

Use these strategies alongside the customer data from Jetpack CRM to improve customer lifetime value. Engage both your current and prospective customers with:

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

You can see that the majority of emails could be automatized. This is a double win for you, because you'll be increasing your customer life-time value, without having to constantly put in work.

However, not everything must be automated. Segmented campaigns are a good example. They be based on the information you have about your customers. These campaigns could also depend on events happening around the worldat large, within one particular state, city, or country, a brand new launch of a product, holiday events etc.

With 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.

Increase collaboration and reduce friction between marketing and sales

If you missed it earlier If you missed it earlier Jetpack CRM now integrates directly with your dashboard at no charge. You can use it for free!

That means both your marketing and sales staff can now have access to the same information. This means that whether you're putting together advertising campaigns, or your sales team is reaching out to specific customers anyone can access customer transaction histories, contacts, previous communications along with other information.

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

It also helps the team of marketing and sales coordinate their efforts better. If the sales team is responsible for reaching out to a particular group, say it is the marketing team that has the right information to develop effective messages as well as materials for your sales team to utilize.

This integration ensures that everyone is on the identical team. Your internal systems will run better, while your customers will be provided with the most personalized, relevant, appropriate marketing and communications.

The result is happier clients who stick around longer and spend more.

Install and set up Jetpack CRM for free today Start gathering and using the data you collect to enhance your life-time customer value.