Customer lifetime value (CLV or LTV) is a staggeringly important metric.
If your online store is great at retaining customers, you’re reducing your dependence on acquiring new ones, which is normally an expensive and time-consuming task.
Repeat business also increases your profit margins since it costs you significantly less to sell to an existing customer than to a new one.
Most online retail experts, quite rightfully, place CLV amongst the industry’s most important metrics. Doing whatever you can to boost yours is critical if you want to be successful in a space as competitive as ecommerce.
In this article, we’ll take a look at six actionable tactics you can implement to increase your ecommerce store’s capacity for keeping customers coming back for more.(more…)