We live in the world of growth where startups are creating a storm in the digital sphere. Keeping this in mind many of us focus on building new customer base/user acquisition even though it can cost more than customer retention. It’s less expensive for a business to retain customers than to acquire new ones, but companies invest more in customer acquisition which let them lose a lot along the way.

Well, there is nothing wrong in growing your customer base, its important prioritize the value behind customer retention and brand loyalty. It might be sensible to shift some of your marketing investments into retention initiatives. Firstly, you need to develop specific strategies and tactics to drive positive results for your business.

Here are few tactics to improve customer lifetime value CLV :

Prioritize your customers through content                   

To increase sales and build customer lifetime value, it is necessary to communicate with your customers on a regular basis. Developing a strong relationship with the customers helps to build a powerful brand in furtherance to brand loyalty and advocacy over time. Through email marketing and engaging fans on social media leads to an increase in CLV. Customer service is an integral part of communication.

Send your potential customers something beyond their expectation

Personalize content and offers are a little bit tough in building customer lifetime value. What you can do is take a look at your customer’s social accounts and find out their interests, hobbies, activities they engage in.  Look at their posts and find out whether they are talking about any books, movies, characters or games.  It would make it easier to offer personalized product offers, or make specific promotions as per their choice. As a result, you can show them related products that they might be interested in which can lead to increase sales.

Reward your customers

It is important to recognize your potential customers and reward them by creating exclusive promotional or any other offers. Create various shopper programs frequently or any other loyalty perks to make them feel special. Thus, makes it extremely easier for your customers to make frequent purchases from your business or availing your services. If your customers can easily avail your services or buy your products with an ease it will increase the sales.

Give customers a user-friendly experience

With that in mind, if some of your customers are actively engaging with your brand constantly then they are the potential people to give the full experience. If you have a premium service, send them something they haven’t experienced give them the upgrade at no cost. The cost to you is minimal but the impact those customers will have on you will line up a huge line of customers for you.

Re-engaging your customers

To re-engage your prior customers who haven’t purchased your products or availed your services yet communicate with them through email marketing. Customers who haven’t opened your newsletter or promotional emails in past 3 to 6 months send them messages. Create some enticing offers that make them buy your products or avail your service. Don’t let them go instead, re-engage them with your brand and remind them what they are missing out!

If you want to build your business on your loyal customers and branding, you have to be ahead of the game by surprising your customers with more than their expectations. Increasing CLV depends on your ability to develop both long-term strategies and short-term tactics. Try out with these tactics to boost your customer lifetime value.