Episode Summary
In episode 31 of the 7 Figures and Beyond podcast, Greg Shuey interviews Will Laurenson from the agency Customers Who Click. They discuss strategies for optimizing customer revenue for direct-to-consumer brands, focusing on increasing average order value and lifetime value. Will emphasizes the importance of understanding customer needs, minimizing product returns, and enhancing customer experience to drive higher revenue. The conversation covers practical methods for effective upselling and cross-selling, the role of customer feedback, and predictions for how AI and changing consumer behaviors will impact e-commerce.
You can read the full transcript here.
Key Takeaways
- Customer Revenue Optimization: Beyond just conversion rate optimization, it focuses on maximizing the value of each customer by considering average order value (AOV), revenue per session, and minimizing returns.
- Effective Upselling and Cross-Selling: Personalized upsell and cross-sell strategies, such as adjusting free shipping thresholds and offering relevant product bundles, can significantly increase AOV and customer satisfaction.
- Minimizing Product Returns: Providing clear and detailed product information and proactively engaging with customers post-purchase can reduce return rates and associated costs, enhancing overall profitability.
- Customer Experience: A positive and memorable customer experience, including personalized onboarding and surprise elements in the packaging, can increase customer loyalty and lifetime value.
- Leveraging Customer Feedback: Continuously gathering and acting on customer feedback through surveys, reviews, and proactive communication helps in refining the product offerings and customer journey, leading to higher retention and satisfaction.
Links
Greg Shuey LinkedIn: https://www.linkedin.com/in/greg-shuey/
Will Laurensn LinkedIn: https://www.linkedin.com/in/willlaurenson/
Customers Who Click: https://www.customerswhoclick.com/
Greg is a digital marketing strategist, ecommerce owner, e-commerce marketing agency owner, and recognized leader in the D2C industry.
With 18 years of experience working with small, medium, and large organizations, Greg knows how to build and execute marketing strategies that drive growth.