Dec 16, 2020 | 9 am EST to 10 am EST
How to use transactional behaviour segmentation to increase your CLV?
Nothing more heartbreaking than seeing a hopeful customer come into your online store, buy something, and never come back. Enticing people to stick to your brand and continuously choose you over your competitors is a tough nut to crack.
It will be a competitive space and time for eCommerce brands in 2021 and beyond, and the price isn’t the only determining factor in a customer’s decisions.
RFM Analysis allows you to segment customers by the frequency and value of purchases and identifies shoppers who spend the most money.
- Recency: how long it’s been since a customer bought something from you
- Frequency: how often a customer buys from you
- Monetary value: the total value of purchases a customer has made
With this data in hand, sort your customers into groups and understand your buyers to sell more… better and smarter.
And the next big challenge is: with a plethora of options within the vicinity, how long will customers continue to buy from you before shifting ships? Are you calculating your CLV (Customer Lifetime Value) currently?
CLV is a powerful base to build upon to retain valuable customers, increase revenue from less valuable customers, and improve the customer experience overall.
Be a part of this empowering session to learn more about RFM Segmentation and how it can change how you communicate with customers. You’ll additionally learn how to increase and nail your customer lifetime value. Plus, gain industry insights and explore 2021 trends on eCommerce advertising and email marketing.