Today, it’s more difficult than ever for e-commerce brands and retailers to connect with customers, especially when the cost of doing business is on the rise. The escalating cost of acquiring and retaining customers means that increasing customer lifetime value (CLV), the metric indicating the total revenue of a customer relationship, is an even bigger priority for brands.
However, many brands, especially small- and medium-sized businesses, often lack the resources to invest in lasting relationships with their customers. So what are the costs to look out for in today’s market and how can brands overcome these by generating valuable first-party data?
