Over the last year, I assumed the marketing responsibilities for an ecommerce client to grow their sales. I optimized every aspect of their ecommerce site – in this case, Shopify. I redesigned templates, integrated a rewards program, added local delivery, took new product photos, enhanced product pages… and increased their conversion rates double-digit. Once I was able to ensure the site was functioning properly and the logistics of delivery working, I wanted to work on
What’s the Cost of Acquiring Versus Retaining a Customer?
There’s some prevailing wisdom that the cost of acquiring a new customer can be 4 to 8 times the cost of retaining one. I say prevailing wisdom because I see that statistic often shared but never actually find a resource to go with it. I’m not doubting that keeping a customer is less expensive for an organization, but there are exceptions. In the agency business, for instance, you can often trade up – a client
Playnomics: Mobile App Acquisition Value Predictor (AVP)
Selling your mobile application is a high-volume, low-value strategy so acquiring leads and ensuring those leads convert, stay on, and upsell as customers. In a multi-channel marketing environment, it’s critical to understand where you’re getting the best quality return on investment. That’s not measured simply by a cost-per-click – the lifetime value of the mobile customer must also be understood. Customer lifetime value (CLV or CLTV), lifetime customer value (LCV), or user lifetime value (LTV)