The Ecommerce Influence Podcast: Advanced Acquisition And Retention Strategies For Fast-growing Online Brands

Your customers are worth more than what they purchase from your store today. If you can retain them as a customer over time, you can gain more profits for your business. This week, Andrew and I have a meaty, and sometimes conflicting, conversation on customer lifetime value (LTV). We start by breaking it down with the basic definition and then share higher level strategies for how you can increase customer LTV, as well as some tactics you can implement today. Enjoy! Episode Highlights: 4:02 How to measure customer LTV (and why it’s difficult to do). 5:52 The first question Andrew has his client’s answer when they ask about LTV. 7:39 Calculating retention rate: why you can only do it if you have a subscription business, and what to look for if you don't. 8:37 The 3 metrics to increase in order to improve LTV. 10:17 What Native Deodorant is doing during their checkout process that’s driving increased customer LTV. 13:08 The benefit of a subscription business and why you should consider it, even if you don’t th