Creating a customer lifetime value segment
Websand is built for data driven marketing, so segmentation is a key feature within the platform.
This section explains how you can create segmentation based on the customer lifetime value of your customers.
Use these segments as the foundation to reward customers based on their spend history. You don’t need to issue points to build a loyalty programme, just Websand.
Segment your customers by customer lifetime value
Customer Lifetime Value is a great way to manage your audience. Using customer lifetime value segmentation you can create segments based on the amount a customer has spent with your business. Helping you to understand who really drives the performance of your business.
The customer lifetime value segmentation are an easy way to manage your audience. Providing you with a great foundation to create your own VIP or loyalty programme and build those key customer relationships.
Creating your customer lifetime value segment
Step 1: Select the customer lifetime value segment
Select Segment from the Websand Menu and then hit the [+ new segment] button in the top right corner of the screen.
Select customer lifetime value segment from segmentation options and that will bring you into the customer lifetime value segment segment screen..
Step 2. Select your customer lifetime value segment
Choose the category you wish to use to define your customer lifetime value segment.
Greater than, equal to, or less than [X] amount.
Step 3. Name and create your customer lifetime value segment.
Use a name you and your peers can easily understand for your segment, for example – “Customers that have spent over £100”
Click the ‘create’ button to create your segment.
Boom! You’ve just created a new segment to help you manage your audience. From that day forth (until you decide otherwise), your customers will be segmented accordingly.
Step 4: Review the results
See the list of people that meet the criteria of your segment. This will update dynamically based on the behaviour of your customers. Depending on the criteria of the segment you’ve created, as new data is collected, new people will join the segment and others could leave the segment as their customer lifetime value increases.
What’s next? Here are some options.
Use this segment power a marketing automation campaign. Customer lifetime value segments are easy ways to manage and reward your best customers, the starting point of any loyalty programme.
Monitor this segment as a measure of business intelligence. Keep an eye on which sources of acquisition are driving the most growth.
Combine this segment with another segment and create a ‘super-powered segment’.
Or, you use this segment to send a one off marketing message to drive more engagement.
Need help to get started with segmentation?
If you need more help to create customer segmentation or simply want to know more about how we can help you create data driven email programmes that perform off the scale, get in touch.
Email firstname.lastname@example.org or give us a call +44.113.2045925.