The basics of customer loyalty

What is a loyalty program? A loyalty program is a strategy to reward customers with structured discounts and exclusive offers for behaviors that positively impact your brand, such as purchases, reviews, or collaborations. With the growth of the e-commerce industry, acquiring and retaining customers is more expensive and challenging than ever before. Knowing that it costs 5 times more to acquire a new customer than it does to retain existing customers, eCommerce stores that focus on customer retention have higher and more efficient revenue streams. …

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Customer Lifetime Value

When you hear advice on how to improve the lifetime value of your e-commerce brand’s customers, you nod your head, but secretly wonder, what does that mean? It’s okay, you’re not the only one. Many new and established online brands tend to focus their attention on metrics like customer acquisition, social media ad spend, and other key performance indicators (KPIs). So why should you care about customer lifetime value (sometimes abbreviated as Customer LTV or even CLV)? As you’ll learn in this guide, CLV is …

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What is cart abandonment? 5 Easy Tips to Reclaim Lost Revenue

Get your cart abandonment rate under control and get more conversions and revenue. Learn why this happens, why it’s important and how to fix it. In a brick-and-mortar store, you’d probably laugh if you saw someone put items in their shopping cart and then abruptly walk away and leave the store. But that’s exactly what happens to many e-stores in the virtual space. Cart abandonment is becoming a bigger and more costly problem for retailers, as you’ll learn in this guide. But it’s also a …

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