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.
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.
There are a few elements that are critical for building a web portal that increases customer lifetime value.
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.
Here’s why you shouldn’t wait to build your custom web portal:
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.