Learn how your average order value and customer lifetime value can be predictors of long term success. Which metric is more important? Which should you pay attention to?
Thomas and Kyle discuss the average order values they typically see, and provide tangible tactics on increasing the lifetime value of a customer.
We dive into several areas in this segment, so feel free to jump to the chapter marker below that best suits what you’re looking for.
0:00 Intro – Thomas and Kyle get married
0:38 Initial thoughts on AOV vs LTV
1:27 What is average order value (AOV)?
2:05 What is lifetime value (LTV) in marketing?
3:49 When to consider AOV vs LTV in marketing
6:21 Digital products’ average order values
9:18 Physical products’ average order values
11:10 High ticket average order values
11:47 A discussion on customer lifetime value
14:46 Increasing customer lifetime value through email monetization
17:07 How to maximize lifetime value through value ladders
22:57 How to increase lifetime value through cross-selling
24:22 A secret nugget for increasing lifetime value
25:07 Summarizing what we’ve discussed about AOV and LTV
25:38 What’s more important to your business: AOV or LTV?
28:05 Recap
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