S3E12 - Optimize Customer Lifetime Value - NOT Conversion Rates with Valentin Radu

Experiment Nation: The Podcast

After decades of acquisition marketing, companies are waking up to the fact that optimising the entire lifecycle of the customer is the way to go. That happens due to rising acquisition costs, cookie deprecation, siloes, company mentalities, etc. In my session, I will share the insights that I got during my 12 years journey, transitioning from CRO - website optimization to increase the conversion rate to CVO - experimenting towards improving the CLV. About the speaker: I am the CEO & Founder at Omniconvert, a solution that helps eCommerce companies all over the world become customer-centric and thrive in a cookie-less future. I am also the founder of Omniconvert CVO Academy where he helps marketers become certified in CVO through his teaching of the importance of customer lifetime value. On top of this, he is writing, blogging, podcasting, and advising for brands. I have a genuine calling to help others and share the shortcuts I discover on my journey. Chapters --- 0:00 - Introduction 3:59 - Experimentation fatigue 4:53 - A/B Testing is finding the one size that fits all 5:29 - The dominant numbers in eCommerce 8:50 - Aha moment 10:07 - RFM customer segmentation 12:50 - The soulmates 14:12 - Qualitative and Quantitative 17:23 - The CVO Methodology 20:06 - The conversion rate can be a misleading metric in eCommerce 21:53 - Customer value optimization 22:20 - The 4 types of CVO campaigns 24:53 - 4 reasons why the CRO experts are in pole position to nail CVO