What are your favorite ways to increase Lifetime Value?
This was a thread started by Andrew Foxwell in his group and we scanned through it to find some nuggets among the answers.
So, here are a few ideas to increase LTV:
+ Payback email flows: Blake Driver says that he finds the top three selling items of the store. Then there’s the data: Look at the data to understand which products people are more likely to buy after purchasing a best seller. Eventually, you build a cross-sell email flow based on this data.
+ Hand-written letters: Dylan Carpenter says that this works like a charm, and Andrew Foxwell added his own experience using this tactic, saying consumers spent 380% more.
+ Sell consumable products: Paul Fairbrother said this is extremely useful for high-priced items. Customers don’t purchase a new bike every month, but you can increase AOV by pushing energy bars and drinks they use every time they go for a ride. Alternatively, think about all the accessories Apple sells.
+ Building Facebook LLAs based on LTV works better than value-based LLAs, according to Molly Mccarty.
+ Focus on the top 20% of customers rather than trying to increase the LTV of all your customers. As Jeremy Ullrich said, don’t treat all your customers the same. Reserve special treatment for your VIP buyers.
Some useful pieces of advice there. Ready to take some action?
Not all traffic is created equal
This tweak, suggested by Jon Loomer, can be very useful if you run traffic campaigns to your blog posts, landing pages, etc.
The problem: When you optimize campaigns for Landing Page Views (LPVs), Facebook will try to give you as many LPVs as possible without taking the quality of the traffic into account.
Yes, you’ll end up getting cheap events, but the quality won’t be what you’re looking for.
The solution: Optimize your campaign for the time spent on your website.
How? Create a Facebook pixel event to log visits based on 30-second multiples (30, 60, 90, 120, 150, and 180 seconds). Then, rather than opting for a traffic campaign, build a conversion campaign and use this event as the optimization goal.
Something that the Facebook Ads masters might already know, but an interesting point for freshmen.
Also, Jon Loomer walks you through the whole process of creating the event trigger, the variables, and how to test if it will work.
Get 30% more conversions for free without CRO or media buying – what 20k+ brands are using
Pushnami’s boost has nothing to do with CRO. This tool helps 20k+ online businesses and affiliates get 30% more conversions by intelligently reaching their audiences with Pushnami’s push notification platform.
That’s 30% more dinero in your pocket! What would you do with 30% more leads, active users, or sales?
Pushnami is used by brands such as Taboola and Fluent to grow revenue without any extra work. For 6 months, this tool is free to help all online brands during the pandemic.
How does it work? By using Machine Learning and Pushnomics to predict optimal content offers and delivery times. Your website visitors simply opt in to receive notifications and Pushnami does the heavy lifting of follow ups.
These are the average results achieved by those 20k brands. Average never felt so good:
- 18% average Subscription Rates: For every 100 people that visit your website, you get 18 subscribers to your push list. To whom you can sell over and over and over.
- 30% more conversions by efficiently following up with your subscribers
- 24% more traffic.
There’s no catch. You can use Pushnami at no cost for 6 months. No CC required. You can test it and see if it works. After all, there’s almost no work to implement it.
Google: It’s not you, it’s me
Over the last two months, SEOs have been noticing a lot of ranking fluctuations and volatility in Google’s local search results.
You can stop scratching your heads now though, because the volatility was caused by a bug.
Fortunately, the examples shared by the SEO community helped to resolve the issue and things have now stabilized.
What can we learn from this? This tells us that sometimes it’s best to not take any action for a while if your site appears to have been hit.
It might be better to just wait it out, try and understand what’s going on with your competitors and then analyze your own data before making any hasty decisions.
And, to eradicate even more doubts, here’s another confirmation straight from the horse’s mouth…
Historic data for ranking?
Everybody suspected this already, but we now have a confirmation that Google does use historical data for determining the ranking of a website.
In Friday’s webmaster hangout video, John Mueller clarified how Google uses this data, the backlinks, the adult SafeSearch filter and some of Google’s quality algorithms for ranking purposes.
If you make any attempts to improve the quality of your website by a large amount, Google will recognize the changes over a year and reward you. Conversely, if you happen to lose Google’s trust, the quality algorithms can take a year or more to build this trust back up.
The same applies for the kind of links pointing back to a website and for SafeSearch.
- TIKTOK: If TikTok Ads seem too expensive or difficult to figure out, here’s a success story on how a soap brand went viral on the app and recorded 1.4B views. Videos included.
- FACEBOOK: We announced it yesterday, but this post from Social Media Today adds more details about FB’s new option to send emails.
- PINTEREST: To make it easier for users to buy items based on an image, Pinterest adds a new ‘Shop’ tab within its Lens visual search results.
- BUSINESS: An interesting story of a business that spent $510k on AppSumo product launch, made it to the #1 best-selling product and then regretted it.
What 5 letter word is spelled the same way forwards and backward?
You can find the solution here.
Cool tech, (funny) business, lifestyle and all the other things affiliates like to chat about while sipping cocktails by the pool.
“Hello and welcome”
As our lives slowly return to normal, humankind is still pushing innovation forward in order to cohabit with our new reality.
This Dutch restaurant, for example, has come up with the idea of using robots to serve food to their customers, therefore reducing human-to-human contact.
These robots, dressed up in a red and white uniform, greet customers, serve food and pick up used dishes from diners’ tables at the Royal Palace restaurant.
They also say hello and welcome and wear little scarves… to look less creepy maybe?
It’s definitely more of a novelty than a realistic idea for most small to medium sized restaurants. Not only that, but most of these robots aren’t even good at their jobs…
“Move fast and break things” is not the best piece of advice here… Still, it’s another innovation accelerated by the pandemic.