Not all sales avenues are created equal. The average person doesn’t do the bulk of their grocery shopping at a gas station or mini-mart for example, and there’s a reason for that. Convenience stores are great if you need a single item in an emergency. There’s no ongoing value though. Successful brands, on the other hand, aren’t in it for the short-term sale; they know how to develop long-term relationships that keep repeat customers coming back time and again. They develop a brand community.
What does this have to do with the voice commerce channel though? A lot, as it turns out.
E-commerce, and by extension jamaica telegram screening voice shopping, is easy and convenient. It’s become the norm for many forward-thinking consumers. With a virtual universe of online shopping options, the last thing that you want for your brand is shoppers to view it as a “one-and-done” service. The goal is to build a community around your e-commerce storefront that generates high consumer lifetime value (LTV).
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What is LTV?
LTV is a marketing term used to denote the total value of a customer’s account over the long term. It is the total dollar amount you can expect to get from a customer throughout your professional relationship. The concept of lifetime value relies on deep relationship building with your clients, and it implies a level of brand loyalty. High customer LTV has a profound impact on your company’s bottom line. After all, the cost of signing a new customer is much higher than maintaining —and building upon— your existing relationships. Some professionals put new ads at 5x the cost of repeat business, but in reality, the cost is greater and far more complex.