Visitor Value for the Metrics-Minded
In my recent post, “Who’s Your Most Valuable Visitor? Define Your Values and Find Your Success,” I discuss the importance of measuring visitor value by your own yardstick. I like the metrics in Patricio Robles’ “Five Metrics for Identifying Your Most Valuable Customers”—frequency, average value, lifetime value, sensitivity, and affluence—because they can be applied to all types of organizations and goals.
Alexandra Levit, writing for Forbes, provides a compelling case study in customer value from a Denmark-based shipping company, Maersk Line. Maersk started offering more value to its customers and measured a 350 percent ROI increase in less than a year. The company used “multiple business metrics, including concrete behavior change in customer interactions, impact on the sales pipeline, and impact on the business as a whole,” to find concrete proof of increased customer value.
Levit makes a strong argument for measuring value, claiming that “radical transformation requires solid metrics that demonstrate success.”
When you start to see higher returns, you need to understand why and communicate this clearly to sales and leadership.