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Source: ScienceSoft
Steady stream of revenue . Customers will consistently order products from e-commerce stores. This will ensure that the business continues to earn ongoing revenue from the sale of those products. For example, a Statista report shows that the subscription model has generated over $38 billion in sales in the United States over the years.
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Source: Statista
Easy to manage inventory . Maintaining inventory can be a azerbaijan whatsapp number database challenge. However, because the company knows the preferences of customers and when they expect to receive products, it can plan its inventory and facilitate the purchasing and delivery process.
Reduce the costs of acquiring new customers . Consumers will buy regularly and e-commerce store owners will not have to search for new customers. Consistent sales will reduce the costs of acquiring new customers as current customers will continue to buy repeatedly.
Build a loyal customer base . As customers continue to use a brand’s e-commerce products, they become loyal customers and may even become brand advocates to other potential customers.
Increase Customer LTV – As customers repeat purchases from your eCommerce store, their LTV increases. Their relationship with your brand, and how they enjoy and use your products continues to grow, and the revenue each customer brings to your business increases with each purchase. Here’s how to calculate customer lifetime value.
CLV
For example, let's say a customer has a lifetime of one year (12 months) shopping at a store, has a purchase frequency of 8, and has an average purchase value of $120, this is their LTV.