customer retention Archives

EDDIE SOEHNEL

What are some barriers of entry to running a successful eCommerce business?
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What are some barriers of entry to running a successful eCommerce business?

Finance

What are some barriers of entry to running a successful eCommerce business?

2019-12-28T14:26:27-07:00By Ed Soehnel|Categories: Finance|Tags: Average order value, Customer Lifetime Value, customer retention, Profit and Loss|

This is a Quora question I was asked and my answer is as follows. My sense is that a minimum qualification for “successful” is profitable on an EBITDA basis (net profit or earnings before interest and taxes, depreciation and amortization) such that your profits will pay back your original investment in a defined time [...]

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How I use my customer data to help me retain my customers and maximize customer lifetime value
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How I use my customer data to help me retain my customers and maximize customer lifetime value

Marketing

How I use my customer data to help me retain my customers and maximize customer lifetime value

2018-05-20T16:06:33-06:00By Ed Soehnel|Categories: Marketing|Tags: customer loyalty, customer retention, database marketing|

In general, I have found that it is at least five times cheaper to retain a customer than acquire a new one. But often that multiple is higher. I know this because I maintain detailed customer transaction records and track my marketing campaign activities, costs and conversions. As a result, I work hard on my [...]

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