Ways to increase the lifetime value of your Customers.

There are several ways to increase the lifetime value of your customers, but some of the best ones include:

1. Focus on customer satisfaction: One of the most important factors in increasing customer lifetime value is ensuring that your customers are satisfied with your products or services. This can be achieved by providing excellent customer service, offering high-quality products, and addressing any customer complaints or issues promptly.
2. Build strong relationships: Another way to increase the lifetime value of your customers is to build strong relationships with them. This can be done by personalizing your communication with them, offering loyalty programs and rewards, and providing them with exclusive offers and discounts.
3. Upsell and cross-sell: Upselling and cross-selling are great ways to increase the lifetime value of your customers. This can be achieved by offering complementary products or services, upgrading their existing purchases, or suggesting relevant add-ons.
4. Retargeting: Retargeting is a strategy that involves reaching out to customers who have previously interacted with your brand but have not made a purchase. By retargeting them with relevant ads or offers, you can encourage them to return and make a purchase, thereby increasing their lifetime value.
5. Focus on customer experience: Finally, focusing on the overall customer experience can help increase the lifetime value of your customers. This involves providing a seamless and convenient buying process, offering personalized recommendations, and creating a positive brand image.

Obstacles to a Positive Customer Experience

The path to a distinct customer experience can be difficult; but, merchants must develop innovative ways to meet customers' growing expectations and desire for personalised interactions, all while rebuilding the trust that has been eroded by recent supply chain disruptions. When you include in inflation, the possibility of a recession, and labour shortages, cracking the code becomes more difficult.

Ecommerce providers must manage many customer-related difficulties, from "checkout ghosters" to disgruntled consumers displeased with their home delivery performance, as many try to reestablish relationships and turn guests into recognised customers. Did you know that 70% of customers abandon their carts before making a purchase?)

In terms of last-mile delivery, a recent study indicated that 67% of consumers had a home delivery difficulty in the three months studied, with 68% of those consumers taking action against the shop or delivery provider. What brand can withstand such retaliation?

Moving on from buyer personas

While every retailer worth their salt understands the importance of developing buyer personas to inform marketing strategies, many are unaware of delivery personas. However, delivery personas are equally effective, with the ability to increase top- and bottom-line performance by cultivating brand loyalty, adding incremental revenue, and lowering operational costs.

Using delivery personas to provide what customers desire

Offering delivery alternatives at checkout allows customers to choose which option best meets their needs for any particular purchase, which can result in a welcome income increase. As an example: According to a 2021 survey, 71% of consumers expect companies to provide personalised interactions – and 75% are unhappy when this does not occur.