Customer Value Optimisation in Ecommerce

15 Feb 2023

Growing your business through happy customers who buy more – that is the dream of many ecommerce owners. It’s exactly what Valentin Radu, CEO of Omniconvert, has focused on for almost a decade now. Valentin is the global authority on Customer Value Optimisation, the process which he has pioneered to identify an ecommerce business’ best customers and grow them. In this episode, we go in-depth on the value of CVO, some of the insights it provides, as well as why marketers seem to enjoy working on it so much.

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SHOW NOTES

  • 00:00:13 How marketers can deliver value in the age of AI tools
  • 00:00:57 Introduction of Valentin Radu, CEO of Omniconvert
  • 00:02:00 Definition of Customer Value Optimisation (CVO)
  • 00:03:04 Importance of understanding customer lifetime value for ecommerce businesses
  • 00:04:34 CVO as a process 
  • 00:05:09 How the CVO process is built into a business
  • 00:06:16 The integration of CVO into Shopify and other platforms
  • 00:06:58 The value of qualitative data in CVO
  • 00:08:00 How CVO uses qualitative and quantitative data
  • 00:08:40 The importance of interviews in CVO
  • 00:09:05 Types of insights from interviews in CVO
  • 00:10:24 Marketers who win the market 
  • 00:13:16 The impact of customer research 
  • 00:14:05 Understanding customer lifetime value and RFM segmentation 
  • 00:17:49 The transformative power of data and humility in assumptions for growing companies
  • 00:19:33 Ben talks about Webprofits’ strategy and testing assumptions 
  • 00:21:15 Ben asks about common mistakes in data-driven growth
  • 00:28:48 Ben talks about Webprofits’ strategy and testing assumptions 
  • 00:32:38 AI and machine learning in marketing 
  • 00:34:18 CVO Academy – free courses
  • 00:34:37 How to install the free CVO Reveal app

Now that you’re here…

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