Let’s see how Strikingly, an innovative website building platform, calculates CLV for its customers using predictive modeling techniques .
Strikingly collects data on customer behavior, including the number of websites created, average time spent on the platform, and customer feedback . By analyzing this data, they can identify patterns and predict future customer behavior.
Using this information, Strikingly calculates lifetime customer value by estimating the potential revenue from each customer over their expected lifetime. They consider factors such as the subscription plans the customer has chosen, additional features c level executive list purchased, and the likelihood of upsells and cross-sells.
Strikingly can make strategic decisions to improve customer experience and maximize long-term value by accurately calculating customer lifetime value.
Strategies for increasing customer lifetime value
Image taken from CL & PP Architects
1. Building strong relationships
customers
Building strong customer relationships is essential to increasing customer lifetime value (CLV). Connecting with customers can foster loyalty and encourage repeat business. Strikingly, a leading website builder, understands the importance of building strong customer relationships. They prioritize personalized interactions and provide exceptional customer support to make if your site has a high-quality link profile their customers feel valued and satisfied.
2. Improving customer experience and satisfaction
Improving the overall customer experience and satisfaction is another key strategy for increasing CLV. Strikingly recognizes that a positive user experience is key to customer retention. They are constantly improving the usability of their platform, offering intuitive design tools and responsive templates. They also actively seek feedback from their users to identify areas for improvement, ensuring that they meet and exceed customer expectations.
3. Implementing effective retention programs
Implementing effective retention programs can significantly impact CLV. Strikingly uses buy lead various strategies to retain its customers, such as offering exclusive discounts or loyalty rewards. By providing incentives for continued engagement, they motivate their customers to remain loyal and extend their lifetime value. These retention programs encourage repeat purchases and contribute to positive word of mouth that attracts new customers.