How to Improve customer life-time value using Jetpack CRM

As the adage goes, it is your job to win a customer instead of gaining the customer in order to earn a sale. One sale doesn't matter anything in the scope of things. What is important is customer life value (CLV). With Jetpack CRM, you have numerous tools at your disposal to improve the average CLV of your customers.

It's more straightforward to pitch your services to current customers rather than finding new customers. The customers you already have are familiar with you. If they were pleased with their last experience, they'll be more open to new offers and likely to buy again -- as long as you're communicating with them in a manner which is helpful and respects their needs.

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

Find out: What is a CRM?

Jetpack CRM is an excellent choice since it was created specifically for WordPress and with stores top-of-mind. It's actually run by the same firm who own .

This article can help you develop a basic plan for increasing the customer's life value using Jetpack CRM.

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

What would you prefer to accomplish in your company:

Make one sale for $150 but never see this customer again. create a sale for $30, with ten additional sales from that same customer within the next two years that add all the way 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 and neglect their existing ones. They fail to gather and track the information of prospective customers, leaving open opportunities to generate repeat business from them.

Knowing and understanding your customer's lifetime value is a chance to increase stability and 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 spending $100 in marketing to acquire a new client.

If you're not aware of the value of your CLV, it's difficult to determine if you're spending your marketing budget in a wise way.

How can you determine your average customer lifetime value? Jetpack CRM allows you to do this by allowing you to maintain track of every single customer and their spending over the course of their time within your online store and also displays all your customer data at a single location.

Respond to and understand customer behaviour

With Jetpack CRM, you can track all the transactions of your customers.

The activity log feature keeps the track of important information regarding every customer, like invoices, quotes and modifications to their status and so on. It is now possible, with its free integration with it, you'll have the ability to keep tabs on all of this via your dashboard.

When you know what your customers ' habits are to make better targeted, more personal, and more efficient marketing strategies and also create more effective communication to boost levels of involvement.

Perhaps your service team could find a way to ensure a satisfied customer who has a long experience with you. Although it may require more effort and expense than normal, saving 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 provides this kind of information available, and keeps it at your fingertips so you are able to make better decision-making based on the customer's behavior. This will result in more revenue as well as a higher life-time value for your customers.

You can create customer segments for your marketing

There are many different customer segments that you can design using Jetpack CRM. As an example, you can classify customers with at least one of the following attributes:

• Purchased in the past three months
• Haven't made a purchase in the last six months
• Purchased a specific product
• Converted to email
• Living within a zip or the state
• Over $150 was spent on at most one purchase
• Utilized a coupon

There's really no limit for this. How could you increase the lifetime value of your customers by taking a segment of all the people who've used at minimum one coupon code? Send customers a coupon-based discount, while emailing a different promotional message to the rest of your customers, who may not be as motivated by prices. This allows you to reach individuals in a manner that is stimulating specifically for them and not discounting your products for everyone.

What could you use a section of clients who haven't bought within the past six months? Create a reactivation campaign and give them some extra incentives to return. Based on the success of that campaign, you'll have a better idea of the best way to bring returning customers who have left and to increase the value of their life.

An organization that sells sporting goods could keep email engagement rates high and unsubscribes low by sending more relevant emails. For example in lieu of making announcements about their new baseball gear to all, they could just send the announcement to people who have purchased equipment for baseball before. That doesn't mean that other customers are left out You can create an individual email to reflect the purchase history of those who have purchased from them, too!

All of this and much more can be achieved using a powerful CRM like Jetpack integrated with .

Increase revenue through email marketing and automation

Another way to increase customers' lifetime value is to use the use of email. This has been discussed somewhat, but think about a few results from email and stats:

• Customers spend 138% more when email marketing is integrated into the channels companies employ to connect with them.
• Return on investment for email was discovered to be four times higher than direct mail.
• Open rates for emails about cart abandonment 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 email marketing and email automation can be.

Apply these strategies in conjunction with information about your customers that you have gathered from Jetpack CRM to improve customer lifetime value. It is easier to engage both your current and prospective customers with:

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

It's clear that the majority of emails can be automated. It's a win-win for you, because you'll increase your customers' longevity without the need to keep working.

But not all of it requires automation. Segmented campaigns are a good example. They take into account your data about customers. They could also depend on events happening around the worldat large, within the specific city, state or country, new product launch, holidays etc.

By using Jetpack CRM you'll be able to access all the information about your customers that you require for you to begin using emails to their fullest potential. Additionally, your average life-time value will rise.

Reducing friction and increasing collaboration between sales and marketing

If you didn't know about it -- Jetpack CRM has now integrated directly into your dashboard free. The service is completely absolutely free!

So the marketing and sales personnel are now able to access identical data. So whether you're creating advertising campaigns, or your sales people are reaching out to specific customers, everyone can see the history of transactions, customer contacts, previous communications along with other information.

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

It also helps the marketing and sales teams to work more efficiently. If the sales team is responsible for reaching out to a particular segment, for example, the marketing team has the right information to develop effective messages and materials for the sales team to utilize.

This integration puts everyone on the on the same page. The internal systems you use will function more smoothly, and your customers will be provided with better-targeted, personalized and relevant marketing and communications.

This results in happier customers who stay longer and purchase more.

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