Your customers are your business’s lifeline...
So in today’s episode of the podcast, I share tips on how you can increase your customer’s lifetime value.
Give it a listen and let me know if you have any questions at the bottom of this page.And I think the free gifts one looks good!
What's Covered in This Episode:
Tips to increase CLTV
Links From This Episode:
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What's up everybody? Anton Kraly here from ecommercelifestyle.com and welcome back to the podcast. If you're a first time listener, just know that this show is here to help you increase your revenue, automate your operations and become number one in your niche. And today's episode is going to focus on that first thing we help people with, and that is increasing your revenue.
Now, if you're familiar with drop ship lifestyle, which is my e-commerce coaching program that was voted best eCommerce course by Shopify, what we do there is focus on selling expensive products. Average order value minimum 200 bucks, but normally a thousand dollars or more and because we sell these expensive products, they are typically one off purchases, right? People will buy them, they'll have it. They're not coming back after week or month after month to drop another thousand or 2000 bucks on one of our stores.
So one of the common questions we get is, "Well, if we have this one off purchase, how can we increase our CLTV? Our customer lifetime value?" And there are many different ways that we do this that I cover inside of drop ship lifestyle. By the way, if you're not a member of that program yet, go to dropshipwebinar.com. I'll link it up below. But that program has over 10,000 students from over 50 different countries, success stories all around the world and if you're just getting started, that's what you want to check out.
But the thing that I want to share with you today that literally anybody can use, whether you sell expensive products like we do, or if for some reason you decide you want to sell less expensive products, this is a very simple way to increase your customer lifetime value. So what we do is build what is known as a post purchase flow and this is a series of emails that gets sent after somebody buys from us. So let's just say you went to one of my stores today, you placed an order, immediately you would get an order confirmation, but over the next 14 to 21 days, depending on what store it is, you're going to receive an automated series of emails. Typically, we send nine emails within that window length depending on what store you're ordering from and how long it takes for the products to be delivered.
But what we do in one of those emails, which I highly recommend you do, is not just provide a shipping update for the customer, but provide an email that gives them value and gets them excited about receiving their purchase. So what we usually say for the subject line of this email is something like, "How to make them most out of your," blank whatever that is, whatever that product is. And I'm at a standup desk right now. So if I was selling standup desks, that email that would go out to new customers would say, "How to get the most out of your new standup desk." And in that email, there are going to be links. Those links are going to take them to a page on our store that we build specifically for people that have just purchased from us.
Now this page, you could think of it as a resource guide and it can have information again, let's go with this stand up desk example, of the best way to position it. Maybe what tools would be required for assembly, maybe some general tips for how often to stand and how often to sit. And that's all great, right? Because that's providing nothing but value to the new customer. And again, it's also reducing buyer's remorse, getting them excited for delivery. But what we do, because remember this is about increasing the customer lifetime value, is take it a step further and on those pages on our stores, we also recommend other products that will help the customer get the most out of their new thing.
So if it was a standup desk, I might say, "If you find yourself working in the dark or in a dark space or at night, you might consider adding one of these desk lamps that mounts right on the side to your standup desk", and then have different photos and different links to products that we sell that would be those lamps for their standup desk. And then it might say something like, "A normal chair works great for when you're sitting, but maybe you want an adjustable stool. So if you prefer to lean back a little bit, as you're standing up, you can check out this one that we offer." And then maybe we might say something like, "If you want your monitors to be at the perfect height, maybe you'd want to consider this monitor arm that we sell that's fully adjustable clamps right back onto your desk." Maybe we would also say, "If you are worried about cable management, check out these cable tray systems we sell."
So you can see all of these options, right? Maybe we even link to a walking treadmill that can go under the desk. So again, the goal of this email is to get the person excited about what they just got, to give them actual value about how to get the most out of it, but to also link to those related products that would make sense for that person. Now, if you don't have any products like that that you can offer, you can also consider finding other affiliate deals, sometimes different online programs, sometimes different services, sometimes just the lower ticket products that you prefer to promote as an affiliate and those can all be linked up in that page as well. So I would highly recommend doing this, again the page gets sent out by default.
This is an email that we build into our post-purchase flow inside of Klayvio, which is the software we use for our Shopify email auto responders. It is super simple to work. It is super simple to set up, it works great and it's a simple way to increase your customer lifetime value even if you're selling high ticket products and expensive products where you normally only have one off purchases. So if you're running one of these stores, go ahead set this up. I promise you if you do it right, it's only going to increase your bottom line and make your business more profitable.
So that's it for today guys, if you're new, we post new episodes of the podcast every single Monday and Thursday so be sure you go to your favorite podcast player, search for eCommerce lifestyle, click subscribe, and if you've got value, be sure to leave the podcast a review. I appreciate them. I read all of them. So thank you in advance. And again, if you're new here and you're like, "This all sounds great, but how do I get started?" Be sure to click the link in the description, go to drop ship webinar.com. It's a free training where I also give you a list of 237 profitable products that you can sell online. I actually have it right over here. So copy of this for free, just by going to dropshipwebinar.com.
So thank you again everybody, appreciate you and I will talk to you in the next podcast. See ya.