How A/B Testing is Used to Optimize CLV
The same science used for years in website optimization, landing page optimization, email campaign optimization and many other marketing applications can now be used to increase the profitability of the customers you already have. In fact, you could increase your Customer Lifetime Value (CLV) 43%, and reduce Chargebacks 23% in 90 days!
Here’s How It Works: Out of all of your customers, a segmented customer group is defined and selected. This is called a cohort.
Customers belonging to the segmented group are presented with one of two offers, offer A or offer B. Data is collected on which offer is most popular with your customers, as well as which offer is the most profitable for your company.
That offer then becomes the new standard for your customers, and the process is repeated over and over again to continuously improve your customer lifetime value. This strategy to optimize CLV works every time – guaranteed!
Step 1: Integration
RevGuard works within any customer service environment (phone, web, email, etc.) to improve communication with your customers.
RevGuard is already integrated with popular CRMs (SalesForce®, Netsuite®, Lime Light®, Triangle®, Konnektive®, OrderLogix®, Orange CRM®, UltraCart® and OrderMotion®) but it can also be integrated with your own custom system.
The integration typically takes two days of time, and RevGuard provides the technical resources to do this free of charge.
Step 2: Customers Directed to RevGuard
You’ll get the power of RevGuard’s ability to split-test messaging to the consumer so when they attempt to cancel, downgrade, etc…
You learn over time exactly what to do to increase your revenues (and reduce expenses by lowering chargebacks and refunds).
RevGuard’s system also reduces servicing costs by providing a CRM-integrated self-service platform so most of your customers do not incur costs of live customer service.
Step 3: The Power of Testing and Hand Holding
You get a dedicated team of analysts to help you quickly define the sweet spot between additional revenue and the right mix of refunds or chargebacks.
You can design tests on your own or design tests with RevGuard analysts. Either way, RevGuard will hold your hand the entire time.
Step 4: Test and Performance Analysis
You’ll have access to your own Client Portal for real-time A/B testing results.
Plus, you’ll also get CLV calculations on all your traffic, affiliates, countries, brands, marketing channels and cohorts.
Step 5: Increased Profit Per Customer
By changing your customers’ experiences based on the A/B test results collected by RevGuard’s system, you will find new methods that generate more value out of your existing customers.
This methodology is guaranteed to increase profits. It works every time and keeps working because you repeat the optimization process over and over.
After running thousands of tests with millions of customers in over 15 different countries, we ABSOLUTLEY GUARANTEE your profit per customer will increase. We are so confident in this, that we are offering a $10,000 PROFIT Challenge.