The beauty—and difficulty—of marketing is that it’s equally right- and left-brain oriented. While creativity and aesthetics are essential, the most effective marketing campaigns merge creativity with strategic planning and data-fueled decision-making.
Increase Your Customer LTVReview Best Practices
With customer acquisition costs on the rise and customer lifetime value on the decline, now is the time to harness the power of data and implement new tactics that combine creative marketing with data-driven decisions. This checklist offers seven tactics you can implement right away to start driving new business and increasing your customer LTV. Once you’ve mastered these tactics, dig deeper into our Ultimate Guide to Customer Acquisition for more tips.
1. Set Up Your Data Collection and Listening Tools
What’s the best way to get to know your customers and online visitors without directly asking them? Look at the analytics. Analytics platforms like Google Analytics and Adobe Analytics provide deeper insight into your customers, from their demographics to their interests, and help you enhance the user experience based on those insights.
Social listening tools can help you identify consideration signals, providing new venues for customer acquisition.
The longer you use these tools and the more you review your analytics, the greater insight into your customers you can gain. Gather information on how customers find your site and engage with it. Monitor referral pages to see where they are coming from and use programs like Mouseflow to map landing pages and site flow. You should also regularly review your best performing keywords and the effectiveness of your various campaigns and events.
Along with implementing site analytics, make sure you set up and monitor the analytics programs for any other platforms you use, such as social media. Social listening tools like Awario (economical and robust) and Brandwatch (expensive but powerful) can help you identify consideration signals from potential consumers, providing new venues for customer acquisition.
2. Create User Profiles and Map Customer Journeys
User profiles and customer journey maps go hand in hand when charting a customer’s transition from new visitor to lifetime customer. As you better understand your customers’ preferences and journey through the funnel, you can better personalize your marketing messaging and target your ideal customer.
As you better understand your customers’ preferences and journey through the funnel, you can better personalize your marketing messaging and target your ideal customer.
Start by building three to five user profiles. Each should identify a unique type of customer, including their general demographics, budget, shopping tendencies, and purchasing goals. These profiles will help you specify your marketing message based on how your ideal customers shop and what they seek from products or services.
For each user profile, chart a journey map that reflects the steps they take to move from prospect to customer. You’ll have a better understanding of what content to create and when and how to share it to encourage the purchasing process and boost LTV.
3. Offer Multiple Ways to Convert, with an Eye to Emerging Channels
The instant availability of information is one of the advantages of the internet. It also means countless other websites are providing information similar to yours. If customers can’t easily find what they’re looking for, they’ll search—and buy—elsewhere. Make it as simple as possible for prospects to convert to customers through multichannel sales and communication methods.
Make it as simple as possible for prospects to convert to customers through multi-channel sales and communication methods.
Most often, this includes e-commerce, brick-and-mortar retail, and phone sales. However, to make the most of your conversion opportunities, consider emerging channels like chat and social media. Thanks to its convenience and instantaneous response, chat is quickly becoming a customer-favorite method for sales and customer service. Similarly, social commerce is growing as a potential sales channel for many users. Offering yet another channel for customers to ask questions or complete their purchase provides an additional opportunity to close a sale.
4. Make Online-to-Offline Conversion Available and Easy
Like sales, the key word in customer service is simplicity. In our fast-paced world, customers want clear responses in a timely fashion. Ensure your sales and support channels are integrated so customers can seamlessly transition from online browsing to a chat or phone conversation without unnecessary friction.
Ensure your sales and support channels are integrated so customers can seamlessly transition from online to offline without unnecessary friction points.
While it may sound complicated, it comes down to connecting the data through analytics and support platforms. Sales and support agents should be able to access a customer’s online data—from email, chat, and phone conversation logs to their browsing history—so they understand where the customer has been and where they are trying to go. This way, a customer who has been browsing content about a specific question can pick up the phone and start a conversation without having to explain what they need or what they’ve already tried. Customers will appreciate the ease and be more inclined to continue working with your company.
5. Audit and Optimize Your Customer Support Assets
Sales pages are important, but you can’t stop there. Dedicate time to building and optimizing thoughtful customer care pages that highlight your exceptional customer service. Good customer care content anticipates and addresses potential questions from customers. It can also reduce the number of phone calls and emails you receive, thereby freeing up your agents’ time and improving your bottom line. Providing other channels for customer support, like chat, also helps free up time and optimize processes.
Evaluate whether or not your customer care content is performing by reviewing your website’s analytics, including time spent on site, bounce rates, and next page paths. From here, you can A/B test your content. Try out a few different formats and layouts. Then perform user tests to identify what customers best respond to in terms of navigating and viewing the content.
6. Use Social Media to Make Genuine Connections with Clients
Sales is a big focus of marketing, but it shouldn’t be the only goal. Another key facet is building relationships with customers. Thanks to their near omnipresence, social media platforms make it easy to connect with customers on a daily basis.
While some of your content will be sales-oriented, make the most of your opportunity to develop genuine connections with customers. Engage in friendly conversations, share informative content, and maintain a consistent presence. When you act as an approachable resource, customers will be more inclined to seek you out for recommendations, support, and, when they’re ready, products or services.
7. Connect the Stages of the Customer Journey
As you encourage visitors to convert to lifetime customers, you must close the loop between marketing, sales, and support. The data you gather in platform analytics should inform your development of customer profiles and journey maps. Your customer profiles and journey maps should contribute to the development of social media and customer care content. Customer support conversations can help you fine-tune your sales material and inform future content and marketing campaigns. Social media engagement can result in positive word-of-mouth marketing to help capture customers in the search and consideration phases.
With an Intelligent CX approach, each step of the journey informs every other step. As you learn to optimize and connect those touchpoints, you can provide a smoother journey, increase customer acquisition, and boost LTV.
Using the Customer Journey to Increase Customer Lifetime Value
Once you’ve closed a new customer, it’s time to review your previous strategies. Refine your customer journey and continually improve personalize your marketing messages. Increasing customer lifetime value requires proactive analysis and adjustments.
Connecting the customer journey is essential for increasing customer acquisition and LTV, and this checklist provides the essential steps for getting started. When you’re ready to dive deeper, review our Customer Acquisition Best Practices blog series for additional tactics for success.