Increase Your Customer Lifetime Value with Custom Web Portals
The profitability of your business depends on your customers. It’s like a leaky bucket—as long as there is more water coming in than going out, you’ll continue to be profitable. Even more so if you can patch up some of those holes at the bottom. Customer lifetime value (CLV) measures the profits you’ll make from each customer throughout their entire lifecycle. It’s a long-term and holistic way to measure your business. Rather than focussing on the initial pay bump, you’ll receive from performing a service, CLV focuses on the entire revenue stream from each client. It’s a great indicator of how healthy your business is.
So how do you increase customer lifetime value? How do you improve loyalty so that they continue to interact with your brand?
Custom web portals.
They’re the answer to all your problems.
Ok, maybe they’re not the answer to all of your problems, but we’ve done a lot of cool things with them that you should definitely consider.
What is a Web Portal?
A web portal is a single place where your customers can interact with your company and manage everything they need.
Rather than working with a sales guy via email, calling customer support on another line, tracking orders through UPS, and managing invoices through a subscription service, they can manage it all from your web portal.
It’s an excellent place to upsell, service, and engage your customers (or potential customers) with your brand.
What Does it Take to Develop a Custom Web Portal?
There are a few elements that are critical for building a web portal that increases customer lifetime value.
- You’ll want to make sure that it pulls in as much information as possible. This means connecting all your systems. Think of all the data that’s stored between your CRM, billing systems, website, lead generation/marketing, support, etc… there is a lot of value there for your customers, but they don’t want to have to manage a handful of different logins or URLs.
- Make sure it’s functional and accurate. How often will the data pull into the portal? Even better, will it automatically push updates? We can handle this side of things for you.
- Beautiful design is what separates you. Make it a place that they want to be. Make sure your user experience is on point so that you can bring customers back and engage them more frequently with your brand.
When we build your portal, we can manage almost all of this for you. All we will need is a basic understanding of your business and systems. We can help you strategize how it will all work together.
Benefits of Building a Custom Web Portal
Here’s why you shouldn’t wait to build your custom web portal:
- You can immediately reduce churn. In other words, your customers will stay with you longer and generally be more satisfied with your service. Why? All the information they need will be at their fingertips (and it will look good, too).
- You’ll create opportunity to upsell products or features. Sometimes, your customers don’t even know what they’re missing out on. In your portal, you can let them know and display it all in a format that sells.
- Improve customer experience with training. While they’re managing their account in the portal, they’ll have access to all your training and onboarding content. This will reduce stress on your support and customer service teams while improving the overall usage and experience of your product.
Best of all, the data is already there. It’s really not that difficult to create a portal. We’ve done dozens of them and know the formula that creates the most value.