E-commerce metrics: How to Improve customer lifetime value?
Business is based on profits and when the time comes to calculate we usually prefer to calculate the net profit that the company gets from one customer over time. It is known as customer lifetime value CLV. It is an e-commerce metrics that are important to know for business development and improvement. If you want to get a high ranking of your online store then it’s necessary to improve your CLV. There are various ways to increase this value. Five of them are
Provide Some Value-Packed Stuff
Try to use the email strategy to grow and attract your customers. It is good to email on a weekly or monthly basis. If you have introduced new products or added new items in your stock. Share with your audience. Explain to them the benefits. You can also add educational stuff. guide them about the product so that consumer comes to know about the usability of the particular item. By knowing the advantages of the product, customer shows interest and wish to buy it.
Provide 24/7 help
Another strategy that makes the CLV one of the best eCommerce metrics is that a business person should always be active. His team must be supportive and should provide 24/7 support to the customers. No matter what is the query related to products, the salesperson must guide the consumer. It is the best way to gain the trust of and improve sales plus an audience of online stores.
Keep Yourself Active On Social Media
Making a good relationship with consumer matters a lot. Most people try to contact through social media. So, the salesperson must stay in touch with the audience through the social media platform. Resolve the queries, involve in live shat and respond to the questions in the post. Even getting reviews about products and brands will also help. You can take suggestions to improve the business strategy.
The company with high ratings always has a high number of audiences. It is because of it as loyal customers who are happy and satisfied with the company. to get high ranking in business it is important to listen to the audience, their problems and then provide them a solution. Even if you cannot resolve the matter try to convince them with a satisfactory answer so that the customer does not lose trust in the company. collect and store feedback so that you can have an idea and help in the implementation of better things in the future.
Detect The Common Issues And Resolve Them
Sometime sit happens most customer complaint about the single thing. At that point, management must check the feedback and identify the root cause of the problem. By detecting the issue one can resolve it to provide better service or product next time so that there will be no complaints in the future.
These all factors are important to maintain the old customers and add the new one in the line. The company’s success is widely base don customer satisfaction. It is obvious the happy customers are always loyal and prefer to buy the same product again and again. If you want that your customers stay in touch with your e-store and remain satisfied so apply the CLV approach to see the magical change in your business ranking.