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As the digital landscape continues to evolve, organizations must capitalize on increasing customer lifetime value (CLV) by analyzing the customer lifecycle to identify marketing automation opportunities.<\/p>\n
One solution that organizations can adopt to increase customer lifetime value is an automated multichannel strategy. Studies show that organizations with strong multichannel customer engagement strategies retain 89% of their customers<\/a> on average.<\/p>\n Given the importance of CLV and how automating multichannel engagement helps drive retention and sales, it’s imperative that these elements form the basis of your online marketing. In this article, we’ll discuss how automated multichannel engagement helps organizations increase sales revenue and customer lifetime value. Let’s dive in!<\/p>\n <\/p>\n According to a recent Econsultancy report, 94% of businesses believe personalization is critical to their success.<\/p>\n Businesses leveraging personalization are seeing the benefits in the form of increased revenue and customer retention. Take Netflix, for example. Netflix’s AI recommendation engine saves the company $1 billion<\/a> in revenue each year.<\/p>\n Amazon is another company that has taken personalization to the next level through automation. It’s unlikely that any two people will see the same Amazon page as the company tailors content based on customer buyer behavior.<\/p>\n When you personalize your message (according to the channel and customer needs), you improve the buyer experience with your brand. This ultimately leads to higher revenue. Econsultancy found that 93% of companies see a rise in conversion rates after personalizing their search engine marketing.<\/p>\n <\/p>\nIncreased Personalization<\/strong><\/h2>\n
Improves Customer Retention<\/strong><\/h2>\n