Turn Static Reporting Data Into More Buyer Sales
Most people are familiar with using the LCV (Lifetime Customer Value) metrics for reporting purposes. Some even go farther and use it for list segmentation. However, we like to take it one step further and use the data to actually make more money. Here's how.
Create three or four spend thresholds that make sense for your business – say $100, $250, $500 and $1000. Then use the Customer Lifetime Value Helper and set it on the purchase of any product to update the customer's data points. To do so, send it to a campaign where you then setup decision diamonds on the value of their total lifetime customer value.
Setup the thresholds as suggested above or set your own custom ones. But the trick here is that we're creating buckets that your buyers will fall into. Then, as they fall into a bucket, you can trigger either a special thankyou reward or bonus. This will go a long way towards solidifying your relationship with your buyers and will likely keep them buying. An example of this would be that after they've spent their first $100 with you, you could trigger a hand written card to be sent out to them. After $500, maybe you send them some brownies via Send Out Cards or something.
Use your creativity and put this to work to make your buyers happy and go beyond the typical buying experience to “wow” them and create lifetime customers.