Join Patrick Rauland for an in-depth discussion in this video Increasing CLV with repeat customers, part of WordPress Ecommerce.
- One of the easiest ways to increase…Customer Lifetime Value…is to encourage people to come back to your store.…If you have the best protein bar in terms of flavor…or effectiveness,…then people will most likely come back.…If they love your product,…you don't have to do too much.…This one of the advantages…of creating a high-quality product.…You spend more money on R&D,…branding, product development…but you spend less in acquisition costs.…It is also an advantage for products…that are consumed regularly…like food, supplements, toothpaste, et cetera.…
There's a constant need for these products…and if your store is the customer's go-to source,…you'll get repeat business without too much effort.…Subscription services can spend a lot…to acquire new customers…because the products they sell…automatically bill you every month…which means they have a higher Customer Lifetime Value.…There are three really good ways…to remind people that you exist…and that they should come back,…social media, newsletters and marketing automation.…
To start, you need to understand the market for your product or service so you can build your website around it. So Patrick Rauland kicks off with some key questions that will help you define your audience and organize your products. He'll then help you set up a payment gateway with PayPal or Stripe, ship orders, collect taxes, and secure sensitive data. And if you weren't convinced already, Patrick reviews the benefits of WordPress ecommerce tools as well as a selection of third-party tools that integrate beautifully with WordPress. Plus, get bonus tips on marketing your new website: attracting and retaining customers and increasing the value of the average order.
- Defining your audience
- Organizing your products
- Marketing your WordPress site
- Increasing average order value
- Getting paid
- Checking out with PayPal or Stripe
- Managing and shipping orders
- Collecting tax
- Protecting sensitive data
- Using WordPress or third-party platforms for ecommerce