Customer lifetime value (CLV) is a metric that measures how much profit your business makes from each individual customer over the duration of their relationship with your brand. It is a crucial indicator of your marketing effectiveness and customer loyalty. But how can you increase your CLV and retain your customers for longer?
One simple and powerful way is to send handwritten letters to your customers. Handwritten letters are a rare and personal form of communication in the digital age. They show that you care about your customers as individuals and that you appreciate their business. They can also help you stand out from your competitors and create a memorable impression.
Handwritten notes can increase customer retention by 50%, and CLV by 25%. The study found that customers who received handwritten notes were more likely to make repeat purchases, refer others, and leave positive reviews. The study also estimated that the return on investment (ROI) of handwritten notes was 37 times higher than the cost of sending them.
Handwritten letters can be used for various purposes, such as thanking customers for their purchase, following up on their feedback, offering discounts or rewards, celebrating milestones or occasions, or simply checking in on them. The key is to make them relevant, personalized, and sincere. You can also include a call to action (CTA) to encourage customers to take the next step, such as visiting your website, joining your loyalty program, or sharing their experience on social media.
Sending handwritten letters to your customers may seem like a time-consuming and costly task, but it doesn’t have to be. You can use services like Lettergun to automate the process and integrate it with your CRM system. You can also segment your customers based on their value, behavior, or preferences and send handwritten letters to those who are most likely to respond positively.
Handwritten letters are a simple yet effective way to boost your customer lifetime value and build lasting relationships with your customers. By sending handwritten letters to your customers, you can show them that you value them and make them feel special. This can lead to increased customer satisfaction, loyalty, and advocacy, which can ultimately drive more revenue for your business.