what we do

Increase Customer Lifetime Value using your data, systems, content, touchpoints and customer journeys. Attracting and keeping more high value customers leads to a higher lifetime value and greater profits.

What do we mean by customer lifetime value?

Customer lifetime value (CLV) is the total profit you can expect to earn from a customer throughout their entire business relationship with you.

Why is customer lifetime value important?

Calculating the lifetime value for each customer helps you to identify who are your high value customers so you can then focus on retaining them and on bringing in more of them. . It also gives you a better idea of how much you can spend to acquire a new customer. If you can increase your average CLV then you are increasing the profitability of your business.

How do we help you with customer lifetime value?

  • Using what data you have we help you calculate your average customer lifetime value. 
  • We segment your data to break out the high value customers from the low value ones allowing us to personalise their messaging
  • We profile the high value customers to help focus your marketing on attracting similar customers.
  • We analyse your data, systems, content, touchpoints and customer journeys to develop strategies to increase the value of your lower value customers and to help keep the high value customers.

What do we mean by data?

Data is the information you have about your customers. It includes personal information such as name, email address and past purchases, but also behavioural data including email open rates, Facebook likes and website traffic. 

Why is Data important?

A lot of small business owners thinks data is for geeks, or for big businesses such as banks, insurance companies and Amazon, but even small businesses can use data to their advantage to understand who their best customers are and the products they buy. Once you know this you can find more of those customers, sell more to them and increase the lifetime value of all customers.

How do we help you with Data?

  • We help you understand the data you have. 
  • We help you understand the data you need
  • We audit the quality of your data.
  • We create segments in your data, so you can personalise your marketing campaigns.

Technology and Systems

What do we mean by Technology and Systems?

Technology and systems are the programs that hold data on your customers. Examples include your point of sale system or your client management system, but it is also the tools you use for lead management, email or other digital marketing. 

Why are Technology and Systems important?

Technology should make your life easier. In the digital age, it is relatively easy (and cheap) to manage bookings, sales and customer information online or in a system. Using technology and systems makes it easier to collect data about your customers and your business, but also automate tasks such as email marketing or other customer communications. 

How do we help you with technology and systems?

  • We document the systems you have and how they are connected. (If they aren’t connected, we show you ways they could connect). 
  • We help you understand the marketing capability of your systems – you might be surprised at what is already there.
  • We provide recommendations on how to best use your systems for marketing.
  • We provide recommendations on other systems you might need for digital marketing.
  • We help you implement automated marketing and communication campaigns.

Content

What do we mean by Content?

Content is the information you have available to share with your customers. It can be articles, pictures, videos, infographics, brochures, emails, order confirmations, the list goes on. 

Why is Content important?

Content is how you let your customers (and prospects) know you are the answer to their problems! It helps you build trust and provides the information your customers need to make an educated purchase decision.

How do we help you with Content?

  • We audit the content you have and how you use it.
  • We measure the performance of your current content.
  • We provide recommendations on the extra content required to meet your customer’s needs.
  • We provide you with a content plan, to make it easier to generate ideas for content and be consistent in your content publishing.

Touchpoints

What do we mean by Touchpoints?

Touchpoints are all the places you either interact with your customer or they come in contact with you and/or your brand. It includes online and offline. Examples are website, email, social media, Google search, your offline store/clinic/club, on the phone, SMS, advertising. It is likely there is more than you realise.

Why are Touchpoints important?

Touchpoints act as you when you are not physically present. They are your representation both online and offline. When you understand the main touchpoints and the roles they play, you can use them to maximise the lifetime value of your customers.

How do we help you with Touchpoints?

  • We document all the places you interact with your customers
  • We audit your touchpoints for quality and consistency
  • We measure the performance of your current touchpoints
  • We identify new touchpoints to reach more customer.

Customer Journey

What do we mean by Consumer Journey?

The Consumer Journey is the path customers take in their relationship with you. It tells the story of a customer’s experience from their first contact with you until they are (hopefully) a long term customer who recommends you to others. It highlights where you do a good job of meeting your customer’s needs and where you need to provide a better experience. It focuses on the customer’s need and pain points.

Why is the Consumer Journey important?

A sale is no longer the single interaction with your customer. Before handing over their money, they have most likely looked at your website, seen your Instagram, interacted with your staff over the phone or via email, they may have even been to your location. You need to understand the journey they take to get to a sale, so you can maximise the conversion rates all through that journey and extend the journey to maximise their lifetime value.

How we do we help you with your Consumer Journey?

  • We document customer needs and customer problems through your sales funnel.
  • We measure conversion through the sales funnel.
  • We highlight ways you can improve customer experience to improve conversion and reduce churn.
  • We make recommendations on the data, technology, content and touchpoints needed to deliver a great customer experience.
  • We look at ways to automate marketing and move people through the sales funnel faster.

If you want to find out more about increasing your customer lifetime value and how it can impact your business contact us at anne@newpathdigital.com.au or call +61405564760.

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