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[PATHWAY CALL SLOTS REOPENED - CHECK BOTTOM FOR DETAILS]
If you only look at ROAS, you're advertising
wrong!
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You're chasing the wrong thing.
Stop chasing ROAS.
ROAS is definitely important, don't get me wrong.
There's no use in running a campaign that is performing at <1.5x ROAS.
But, if your focus is only on ROAS for the day, week or month, and your goal is long-term growth for your brand,
Then you're doing it all wrong.
For long-term, sustainable growth with your DTC brand, you must be looking to grow your CLTV (customer life time value).
By maximizing on this, with the 6 strategies laid out in this newsletter,
You can build the proper foundation for lasting & exponential success.
Here are the...
6 strategies to multiply your CLTV
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Subscription Offers:
This should be the go-to for DTC brands looking to grow LTV, especially for CPG brands.
They work so well, with the immediate boost in LTV they create.
For example, if you sell at product at $20, but offer it for $10, when you sign up for the monthly subscription,
Having the new product sent to your door every month,
At an average 10 month retention period, you've 5x-ed your LTV, with no extra work.
This offer builds a stronger relationship between the brand & customer,
Provides added convenience to the customer,
& gives the opportunity to present new versions of a product (think different candle scents), regularly.
- Start Now:
Add the subscription offer checkout option, with a discount/other added benefit.
- Implementation Tips:
Market the subscription offer to cold & warm audiences.
Let people know that the offer is there, and that it is more convenient & saves money.
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Loyalty programs:
Loyalty programs reward repeat purchases and build deeper connections with your customers.
Giving exclusives offers/products/benefits to customers promote good will & make you the go-to.
- Start Now:
Give exclusive savings, deals, etc. that only they have access to.
Make it personal & show them they are valued.
- Implementation Tips:
This will drive more attention to an offer, making more people interested in joining.
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Personalization:
Personalizing the customer experience boosts engagement, satisfaction, and loyalty.
With customer data, you can recommend offers customers are most likely to enjoy.
- Start Now:
Identify patterns and see what the customer journey looks like for most.
Use segmentation and targeting strategies to deliver personalized experiences.
- Implementation Tips:
Use email automation and segmentation to group your customers & deliver specific emails & offers.
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Upselling & Cross-selling:
Like personalization, before a sale has happened, make recommended additions to the order.
These will not only boost your AOV, and thus LTV, but also provide more value to the customer.
- Start Now:
Promote them before checkout, or showcase a bundle with the products, that offer savings when bought together.
- Implementation Tips:
Your customer in is the buying state, ready to get something to solve their problem, and are more open to more value.
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Exceptional Service:
If you only use one of these strategies, let it be this one.
People buy from brands they like.
Serving your customers well with their needs, establishes good will,
Which will likely not go unforgotten.
Not only will they return, they'll let their friends and family know too!
- Start Now:
Their goal should be to leave them as happy as possible.
Use systems that make customer support quick and easy to do, customers don't want to wait ages for help.
- Implementation Tips:
To do this well, we must look at the final strategy...
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Data-driven Optimizations:
Data shows you the undeniable truth of your brand's performance.
Don't guess on what works well.
Test many solutions, look at the data, find the best results.
- Start Now:
Keep track of all this, and see what results in the most sales & satisfaction.
- Implementation Tips:
More testing will bring more data, which brings more clarity on what your customers actually want.
Techniques such as cohort analysis and predictive modeling will get you even better insights & results.
If you are actually concerned about the long term success of your DTC brand,
These strategies are a must.
Start testing them out & find out what works best for your brand.
If you've gotten significant results from these strategies,
Be sure to let me know this was helpful.
Until then...
Keep growing, keep scaling!
Levi Das
P.S. Want more info on business & advertising? Find my content:
- On my X page, with daily posts & threads to help you scale your business, no matter what stage your at! Click here!
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Book yours with the link below!
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