Customer Value Optimisation
Customer Value Optimisation (CVO) is a strategy for growth and aims for these three things from your website. They are:
- The number of customers
- The average transaction value per customer
- The number of transactions per customer
CVO sees customers as people with difficulties, and your business is providing the solutions to these issues. This works for both a service or a product based company.
The idea behind the CVO process is to build a marketing funnel that allows you to spend more than your competitors to gain customers.
Before you start the process, you need to decide which traffic source you are going to utilise first. This could be from the following:
- Facebook Ads
- Twitter Ads
- LinkedIn Ads
- YouTube Ads
- Email marketing
- Social media
We use a 5-step process for the traffic strategy:
- Lead Magnet Offer
- Tripwire Offer
- Core Offer
- Profit Maximiser
- Return Path
The first two steps (Lead Magnet + Tripwire) increases the number of customers. The Core Offer plus the Profit Maximiser increases the average transaction value per customer. And the Return Path increases the number of transactions per customer.
With each of these five steps in place, you’ll be able to spend more than your competition to obtain customers.
Want to know more about how Customer Value Optimisation can make a business “unstoppable”? Then come and talk to us today at Internet Sales Drive and start your CVO journey.