If you have been an affiliate marketer for a while, you’ve probably learned that each and every customer has a lifetime value or CLV. This is a term used to describe the amount of money you can earn from one person when they enter your sales funnel. Of course, you will be concerned with increasing this value as it will increase your profits, and understanding it will help you make better decisions on how to spend your marketing budget. In this article, we’ll go over some ways in which you can work to improve your CLV.
Improving your customer service is one way to increase the likelihood of repeat sales. On the other hand, you could have the best products available, and if your customer service skills are lacking you could see sales dwindle down to nothing as word spreads. Having a system in place that enables you to be responsive, such as a 24-hour reply policy to customer support inquiries or having a live staff available during business hours to answer questions and concerns is a great way to show that you are invested and interested in your customer’s’ success. Always treat your customers with respect and consideration, act in their best interest, and you will most certainly see an increase in repeat business from them.
Another good rule of thumb is to over-deliver from the onset. When someone experiences purchasing a product or service from you, they should always feel as if they received above and beyond what they were expecting. Underpromise and overdeliver as often as you can by providing excellent quality products, unannounced bonuses, and exceptional customer service.
Another great way to increase your customer lifetime value is to stay visible and connected with them through email, social media, webinars, and the like. As people learn more about you, getting to know you as a person and not just someone who sends them emails all the time, they will begin to develop a sense of trust towards you. We all know that people make purchases from those who they know, like, and trust, so make it a point to help your followers develop those types of feelings toward you.
Targeted upsells and cross-sells are also important when you are working towards increasing your CLV. Upsells can easily be automated throughout your sales funnel and should be used to offer your customer additional ways to succeed with the product they have purchased initially. Cross-sells, on the other hand, are products that you will offer that are different, but complementary to the product the customer is purchasing or has already purchased. When done correctly, upselling and cross-selling is not seen as something only a sleazy salesperson would do, but are appreciated suggestions from a trusted marketer.
Customers are the lifeblood of any affiliate marketer’s business and it is just as, if not more, important to keep your current customers happy and coming back as it is to be out finding new ones. The more you pay attention to and learn how you can help your current customers with their problems, the easier it will be to have them coming back to you when you make recommendations based on their wants and needs.