Whether you are launching a new digital marketing program or reworking an old one, calculating the ROI of your marketing strategy is an important part of your overall strategy. It's important to measure how well your efforts are paying off, and the ROI of a successful digital marketing program is not only a matter of revenue but also of customer lifetime value. The lifetime value of your customer is the number that tells you how much they spend over their lifetime.

Boosting conversions on mobile devices

Conversion rate optimization is an important part of any digital marketing program, and boosting conversions on mobile devices is no exception. Mobile users spend approximately 70% of their online time on their mobile devices. Conversion rates are largely dependent on ease of use and mobile-friendly site design. According to eMarketer, the number of mobile-only users will rise to 55.7 million by 2022. Furthermore, over 79% of smartphone users have their mobile devices on hand throughout the day.

Measuring close rates

Measuring close rates is a vital part of any successful digital marketing program. You can measure the rate at which leads become customers by adding up the number of closed leads generated during a certain period. This helps you determine the effectiveness of your digital marketing campaign and determine where to allocate the budget. It can also help you prove ROI.

Measuring customer lifetime value

• Measuring customer lifetime value is an important part of a successful digital marketing program. By knowing how much each customer is worth to your business, you can adjust your marketing model to maximize your return on investment. Once you have a clear idea of your customer lifetime value, you can bid more aggressively on paid advertising, build a more targeted audience, and scale your business more easily.
• You can calculate the lifetime value of each customer by considering the amount they will spend over the course of their relationship with your company. This value is based on a number of factors, including the average order value, the frequency of purchases, and the gross margin. The longer your relationship with your customers, the higher your CLV.
• Measuring customer lifetime value is critical for your business. Without it, you could end up wasting money on marketing. The goal of a CLV is to maximize your profits while minimizing costs. It also helps you focus your spending to attract the right type of customers. If you aren't able to measure your CLV correctly, you may be unknowingly overspending and losing money, or underspending and struggling to keep up with demand.
• Customer lifetime value is one of the most important metrics for an online business. In today's marketplace, winning and retaining valuable customers is a costly endeavor. By focusing on these customers, you can increase your customer's lifetime value, attract better new customers, and prevent negative trends like customer churn.