Are you focused on getting orders or getting customers? In today's episode, we explore the important difference between these two things.
You can calculate your customer’s lifetime value for a period of time with the following process:
Firstly, divide your total revenue by the number of orders to get your average order value.
Then, you divide the total number of orders by unique customers to get the average orders per customer.
Finally, you multiply your average orders per customer by your average order value.
If someone places an order with you today, would they make another purchase? Do you have marketing in place that will bring them back for more?
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If you want to find out more about how I can help you grow your business online, head to my website: marketingwithmenekse.com, or find me on Instagram @menekse.stewart.
Meanwhile, make sure you hit Subscribe, and I’ll see you in our next weekday episode!