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Why Customer Lifetime Value matters in eCommerce
The document discusses strategies for eCommerce growth. It notes that acquiring new customers is increasingly expensive, and that the common formula of focusing only on traffic and conversions is outdated. The key to sustainable growth is optimizing customer value by increasing retention, average order value, and purchase frequency. The actual growth formula centers around maximizing lifetime customer value relative to acquisition costs.
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- 1. The eCommerce GrowthFormula Omniconvert Customer Value Optimization Academy, 2021
- 2. In business, welook for strategies, fast fixes, to get the shortest answer to the eternal question we’re asking ourselves: How can I get more results with less effort? Omniconvert Customer Value Optimization Academy, 2021
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- 7. Monitor how yourcustomers feel rather than your website traffic Omniconvert Customer Value Optimization Academy, 2021
- 8. 95% of our purchasedecision making takes place subconsciously Gerald Zaltman (Harvard Business School Professor) Omniconvert Customer Value Optimization Academy, 2021
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- 10. There Are OnlyThree Ways To Grow Any Business 1. Increase the number of clients 2. Increase the average transaction per customer 3. Get each customer to buy from you more often Jay Abraham 1 2 3 Overused & not moving the needle on the long run Omniconvert Customer Value Optimization Academy, 2021
- 11. The actual growtheCommerce formula Omniconvert Customer Value Optimization Academy, 2021
- 12. 93% Omniconvert Customer ValueOptimization Academy, 2021
- 13. The average customerretention for eCommerce companies Source: Reveal eCommerce Benchmark, 2021 23% Omniconvert Customer Value Optimization Academy, 2021
- 14. On www.store.com youcan order 5 pairs of glasses at your choice to try at home. Wow! Omniconvert Customer Value Optimization Academy, 2021
- 15. Rewarding experience make customersloyal. Omniconvert Customer Value Optimization Academy, 2021
- 16. *Source: Wordstream stateof Facebook Advertising, eMarketer and Statista Acquiring customers is more expensive than ever Since 2013, Facebook CPC has grown 8 times, while retail eCommerce sales worldwide have increased by 158% Retail eCommerce Sales worldwide 2013 -2018 (158% growth) Average Facebook CPC 2013 - 2018 (800% growth) More customers: Traffic Omniconvert Customer Value Optimization Academy, 2021
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- 18. The actual growtheCommerce formula Omniconvert Customer Value Optimization Academy, 2021
- 19. Traffic & conversionrate are undeniably vital. But you need more than those to make a healthy eCommerce thrive. Omniconvert Customer Value Optimization Academy, 2021
- 20. Profit-oriented Market-share driven Omniconvert CustomerValue Optimization Academy, 2021
- 21. 3:1 Lifetime value Acquisition cost OmniconvertCustomer Value Optimization Academy, 2021
- 22. s Krassimir Stankov: TheBFASHION story Omniconvert Customer Value Optimization Academy, 2021
- 23. If you wantto expand your eCommerce horizons, sign up for the Customer Value Optimization Course. [email protected] Omniconvert Customer Value Optimization Academy, 2021 Enroll in the course