Technology, fields of expertise, and targeted skill sets come together to do one primary thing: optimization of customer lifetime value. This overarching objective can be broken down into an ordered set of marketing goals:
- Finding qualified leads at the lowest cost (optimizing cost per lead);
- Acquiring customers by turning qualified leads into first-time buyers (optimizing cost per acquisition);
- Converting first-time buyers into repeat buyers. This is a critical inflexion point—getting a new customer to buy again will dramatically increase his future value;
- Stimulating customers to buy more and buy higher-ticket items (increasing average order amount);
- Nurturing loyalty. Customer loyalty is not only measured by how much customers buy, but by their love connection with your brand. Enchanted customers’ trust level is at its peak, so much so even mistakes will be forgiven.
- Retaining customers. At some point, behavioral indicators will suggest some customers are about to leave. Actions must be implemented to retain the high-value ones. Studies have shown that acquiring a new customer is ten times more costly than retaining an existing one.
Empower can successfully intervene at each stage of the customer life cycle. Acquiring customers at a low cost, persuading them to buy often and regularly, or building a strong long-term relationship with your brand, are all goals Empower can easily tackle. If you’re encountering problems at any or all life cycle stages, we can turn things around quickly and significantly, course-correcting towards exceptional business results.