Top CVO methods that are tactical, proven and result oriented.

Grab the Right Audience 

Targeting the right audience is the first thing you need to do when you are planning to market your product or services. This doesn’t involve targeting bulk traffic.

Every business has three categories of customers:

📍Low-value: This group of customers waste your resources like buying products on excessive discounts or continue to talk to customer support on petty issues. They bring little to no profit.

📍Medium value: This group of customers form a majority of buyers. They do not bring significant profits, but they are high in numbers.

📍High-value: These are the customers who are really worth approaching because they bring the highest profits.

The way to analyze your audience is based on the product’s selling performance. Take a look at these different product categories that can be categorized based on products performance: 

📍High Value & High Volume: Some product categories show high-volume first-time purchases and provide high-value customers. For example, a particular product is mostly the first-time purchase, and those buyers later become a regular customer. 

📍High Value & Low Volume: There is another category that shows low-volume first-time purchase, but provides high-value customers. Most of the time, these products are high-priced and therefore, could manage to have a lower number of buyers. However, customers are lifetime repeat customers

📍Low Value & High Volume: The next product category is often the first purchase by the customer in high-volume, but they never return. This category is capable of attracting customers but unable to provide repeat customers.

📍Low Value & Low Volume: The last category is the one that neither performs well in sales, nor do they bring quality customers. It is better to avoid this category for customer acquisition.

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Source: Omniconvert 