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Market Research

Market research is an important step in the process of launching and managing a business.

What You Should Know About Customer Lifetime Value (CLV)

Useful Information You Should Know About Customer Lifetime Value

Market Research / By

Are you looking for ways to maximize the value of your customers? Then, understanding and leveraging customer lifetime value is vital. CLV tells us how much a customer is worth to a business over their time as a customer. It’s essential because it helps companies to focus on retaining more valuable customers longer while working out strategies like discounts or incentives that will keep them coming back. Knowing and mastering your customer’s lifetime value can help you make better decisions across many areas regarding growth hacking goals and using marketing resources more efficiently.

In this blog post, we’ll explore what CLV really means for businesses, why it matters for their success, and most importantly – how they can increase theirs!

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10 Steps to Better Understand Your Customers' Needs

10 Steps to Better Understand Your Customers’ Needs

Business Potential Energy, Market Research, Marketing / By

As an entrepreneur, you should understand your customer’s needs as your priority. Businesses that don’t do this quickly fail as an entity.

If you want your business to succeed, you need to work on satisfying real customers’ needs. You must know that you are not selling your products or services, you provide solutions to help them do the job they want to do.

In this article, I want to cover a systematic step-by-step approach for you to understand your customers needs better. Also, at the end of this article, there is a checklist with all steps and questions you can ask your customers for interviews or surveys to achieve the expected results.

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How to Reduce Customer Churn and Increase Lifetime Value

How to Reduce Customer Churn and Increase Lifetime Value?

Market Research / By

As an entrepreneur, you may have heard this advice before: “If you can’t reduce churn, you don’t have enough customers.” It’s a common refrain from investors, advisors, and other entrepreneurs who are concerned that if you aren’t reducing customer churn, it could indicate a fundamental business issue.

Businesses must understand how to prevent customer turnover — and raise it, but that’s not the emphasis of this article. Anything one can do to lessen or stop churn is a win for all. The process does not require that much effort. It all starts with a solid understanding of why customers are leaving in the first place.

If you’re looking to reduce customer churn and increase lifetime value, then here is what you will need to do.

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customer lifetime value

The Importance of Customer Lifetime Value In SaaS Business

Market Research / By

SaaS companies and the vast majority of businesses rely on customers to maintain their bottom line, but revenue seems to be the primary metric most startups focus on. While revenue is the primary reason companies succeed, replacing customers or waning loyalty can tank a business. In the end, emphasizing customer lifetime value will boost all metrics. 

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Small Business Advice: Know Your Customer’s Emotions

Market Research, Sales / By

Probably, you know that in today’s business world, customers’ emotions are the only thing that guarantees the success of all your sales efforts. Simply, customers’ emotions sell.

The right question for you as an entrepreneur does you know the emotions of your current and potential customers.

What does this mean for you?

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focus on the customers

Small Business Advice: Change Your Focus on the Customers

Business Growth, Market Research / By

I know that you are born to compete with something and everything that you see you want to compare with something yours. But, do you focus your attention on the right things in your small business. The most important thing is to change your focus on the customers.

Now, as an entrepreneur your focus is also to compete, trying to kill the competition. Trying to make the better offer, to make more promotions, to give bigger bonuses…

But everything that I mention here you compare with your main competitors, not with customers and their needs. Because of that you need put your primary focus on the customers.

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