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Once you have an online business going, you may think at first that all you need to do now is sit back and watch the money rolling in.
However, ecommerce is no different than traditional businesses in that you still have to monitor everything and improve constantly. It’s certainly not passive income.
Finding ways to make things better and earn more revenue is about figuring out two things—what’s broken and what can be improved. It can be hard, though, because not all things in ecommerce are so obvious.
The Metrilo team was having a meeting about Black Friday and the madness we had to prepare for.
I got a message from a friend that made my heart skip a beat and the meeting went to hell.
The TechCrunch article was about one of our most engaged customers – Moiz Ali. He had just sold his company, Native, to Procter&Gamble for a $100M in cash.
I might’ve shouted fuck yeah in the office. I was wildly excited. I was damn proud.
Ecommerce is booming, getting new customers is getting harder and pricier.
How do you grow in cut-throat competition? You work with what you already have – and paid for!
You do retention marketing to make more sales to your existing customers. Here are our ideas for online customer retention strategies.
We know you want to personalize your emails as much as possible, especially the cart recovery emails.
Now, you’re able to send customized abandoned cart emails that include links to the specific products customers abandoned.
This way, you’re making it even easier for them to go back and finish the order. Abandoned cart recovery gets more and more effective!
Most people choose Magento for its ability to handle large shops – many products, lots of events being generated. It also means lots of customer data.
Actually, your customer information is what you should be working with every day. To do next-level marketing. To grow your ecommerce business.
Magento’s great for supporting large stores, but it’s not exactly marketing-oriented. For best results, we recommend you use a Magento CRM platform to help you organize client data and use it to drive sales.
In order to talk about LTV, let’s take a look at the bigger picture first.
eCommerce is obviously booming. More and more people are jumping on the online retail wagon and this is all good because it pushes the whole industry forward.
But there’s the downside that almost no-one talks about, although everybody’s struggling with it.
It’s the fact that more and more businesses are fighting for the customer. Which leads to one thing – increased CAC (customer acquisition costs).
It’s obvious that it’s never been more expensive to acquire a customer. But the reality is it’s never going to be cheaper to acquire one, either. The value of customer loyalty and retention is through the roof.
High CAC is not the issue, though. Low LTV is.