Building Value with Boosted LTV
Managing a marketing campaign doesn’t start and end with the ROI. While that is an important measure of success, the lifetime value of every customer is equally important. When you spend too much to acquire a customer, they don’t add as much value to your brand. The best campaigns deliver top ROI for customers with a high lifetime value. Generating traction to improve LTV is a challenge, but the right long-term strategies can help–particularly with mobile.
Mobile, one of the most rapidly growing marketing channels, delivers some unique tools that can help in your quest to boost LTV per customer. Here are a few tips for turning your next marketing campaign into a tactical tool that’s part of your ongoing strategy.
Segment Your Marketing with Dynamic Deep Links
With more customer data comes the ability to target your marketing efforts. The better you know customer behavior, the more you can segment your audiences for personalized offers. When customers get the right offer, they are more likely to click through on an advertisement and make a purchase.
When customers get generic ads, they don’t always respond as quickly. A generic coupon can be a good thing when it is just a discount on the price, but by linking the discount to previous customer behavior, you help make them feel valued and as if you are paying attention to their needs.
Analytics let you track customer behavior with unparalleled precision. You can see which offers generated a click in the past and which eventually led to a sale. With a customer’s buying habits and history at your fingertips, you can see exactly which offers will be most likely to generate a sale from that customer. Tailor your ads to match and make sure your links go directly to the offer. That’s dynamic deep linking. The ability to link directly to a targeted landing page within your app instead of your homepage. Push customers where they want to go and reap the benefits of a faster sales cycle.
Introduce Playable and Interactive Ads for Gaming Customers
Gaming customers don’t always respond to flat advertisements like banners. Fresh and new content is a must to engage with users who are always looking for a fun, new activity. Interactive ads let gamers put their prowess to work as they explore your product.
For retailers, adding a playable element can capture the imagination and have users coming back to play again. Plus, the potential to win prizes generates more interest than gameplay alone. Quizzes are particularly effective for interactive ads, driving a surprising amount of traffic and increasing the time users engage with your product.
App developers have the option to offer a sample of their product, all without forcing a download. This is particularly valuable at combatting uninstall rates. When users can explore the game first, they know they want to play when they commit to a download.
Keep Customers Engaged, Even After a Sale
Gaining a single sale is an achievement, but it doesn’t always help with driving value. For long-term success, you need to re-engage customers as they move on to other providers.
Even the best marketers shed about 25 percent of their list every year. Dropping that number is a crucial element in driving value for marketing campaigns. Re-engagement is possible. A recent survey shows that 45 percent of re-targeting and re-engagement emails are opened and read. That’s a big opportunity to combat customer loss. Just remember to send out personalized messages that leverage all of the data you’ve collected about a customer.
Marketing trends change quickly, particularly as new technology offers additional options for engaging with consumers. Keep your mobile marketing at the forefront with smart mobile ads that drive value. Keep things personalized, streamline redemptions and always follow up for a long-term relationship with customers that will organically boost a customer’s LTV.