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Generating high customer lifetime value is a difficult task for any business, and absolutely every brand struggles with it. Consider how The Gap and J.Crew found themselves at a loss for sales in 2015, forcing each of the brands to re-strategize their merchandising and customer experience offerings. Both of these legacy brands have long been heralded as bastions of customer lifetime value. And yet, with little company change taking place over the course of a few years, that customer lifetime loyalty was quickly lost.
Then, look at brands like Apple, which rely on customer lifetime loyalty to drive word-of-mouth marketing and buzz for new product launches. By infiltrating the design and tech community, Apple has built itself a well-established customer base with high brand loyalty. And Apple must keep pace with the innovative expectations of that base in order to keep them.
Why is customer lifetime loyalty so sought after? Because the longer a customer stays with your brand, the more they purchase. The more a customer purchases, the higher your ROI on that individual. And, the higher your ROI on cost of acquisition for individual customers, the more money your business makes.
But, there is no simple algorithm or best practices for improving your brand’s customer lifetime value. Instead, as you better your customer experience, provide for higher quality products and overall meet the needs of your customers before they realize they need them –– the more likely they will stay loyal and recommend you to friends.
The following three Bigcommerce apps and integrations have their own takes on how to increase lifetime loyalty, and you’d be smart to implement each and every one. After all, there is no one solution to generating lifetime value. Instead, much like cooking, it takes a variety of ingredients combined just right in order to produce your desired outcome.
OSI Affiliate Software: Rewards, Loyalty and Net New Customers
According to Nielsen’s Global Trust in Advertising report, more than 83% of respondents say they completely or somewhat trust the recommendations of friends and family. For small and midsized businesses, this information means one thing: you need to set up a fully functioning referral program.
This is where OSI Affiliate comes in. OSI Affiliate Software guarantees to increase sales for your online storefront using OSI Affiliate’s affiliate and referral marketing technology.
With this software, you can set up a referral program which encourages customers to promote your brand to their family and friends. The technology becomes hands off once you set it up, allowing you to dictate rules that only reward referring customers when you land a successful sale through the channel. In other words, you only pay when you make a sale.
OSI Affiliate Software integrates easily with the Bigcommerce backend, offers a 15 day free trial and then a $47.95 cost per month.
Receiptful: Optimizing Marketing Strategies to Generate Customer Lifetime Value
Want to increase the impact of all of your customer interactions in a way that maximizes your customer engagement and generates increased revenue with a minimal amount of work? Then it’s time to start optimizing on missed marketing opportunities, especially if there are automated processes you can implement.
Meet Receiptful, a company founded on the idea that emailed receipts are a massively missed marketing opportunity. The company’s solution? A software featuring an easy-to-use, drag-and-drop builder to create a beautiful receipt with integrated, personalised marketing components (i.e. discount coupons, referral systems and product recommendations).
Receiptful’s unique receipt technology has powered more than four million receipts with open rates of more than 70% and engagement rates of more than 10%. This has generated $4 million in additional revenue for merchants utilizing the free technology.
Receiptful also offers additional premium products, including product recommendation widgets for product pages and automated follow-up emails to increase repeat purchases and customer lifetime value.
Your customers are unique and every interaction and conversation you have with them should meet those unique needs.
Receiptful integrates with the Bigcommerce backend and is available for free download.
Pixelz: Optimized Image Editing So You Can Focus on Customer Experience
Tired of having to manually edit every single product photo for your site? High quality and properly edited product photos increase conversion, but it takes quite a bit of time or a team hire in order to process through every single photo and edit it properly for its category.
Clothes, accessories and other goods all need to be photographed a bit differently, and edited differently in order for your bottom line to reap the benefits. Plus, all images need to be the same size so that they appear properly on the site.
Pixelz is one of the easiest way to optimize this flow. Installing the Pixelz app lets you sync your product images to a professional image editing service with a 24 hour turnaround guarantee. The Pixelz app enables you to submit both existing and new product images for editing and publishing, without repetitive uploading and downloading. Save time, save money and seamlessly integrate advanced image editing into your workflow.
Consistency is a key performance indicator for product category pages. Pixelz powerful filters allow you to search and locate images in your store that need improvement, for example through changes to background color, proportions and web optimization.
Create custom order specifications, perform quality control checks, enjoy low prices that scale with your needs, and learn why over 10,000 retailers consider Pixelz the easiest way to optimize images for ecommerce.
Add the Pixelz app to your store and receive three free trial images.
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