From the course: WordPress: Ecommerce

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Increasing CLV with repeat customers

Increasing CLV with repeat customers - WordPress Tutorial

From the course: WordPress: Ecommerce

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Increasing CLV with repeat customers

- [Narrator] Depending on the study, it's five to 25 times more expensive finding a new customer than engaging with an existing customer. That's why one of the best ways for your store to succeed is to keep existing customers coming back. If customers love your product you don't have to do too much especially if it's a consumable product. That's one of the advantages for creating a high quality product. You spend a little bit more money on R&D, branding, and product development, but you spend far less in acquisition costs over the course of the product's life cycle. If you have one of these products, great. However, the vast majority of products need a little bit of helping getting people to come back. There are three really good ways to remind people that you exist and they should come back to you. Social media, newsletters, and marketing automation. Encouraging customers to follow you on social media is a good way to maintain contact with your customers. Every time a customer sees…

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