If you’re trying to improve customer lifetime value, which phase should you focus on in your marketing flywheel?
- Attract
- Engage
- Delight
- Consideration
Explanation: The correct answer is Delight. Focusing on the Delight phase of the marketing flywheel is crucial for improving customer lifetime value (CLV). Delighting existing customers involves providing exceptional post-purchase experiences that exceed their expectations, nurture their loyalty, and encourage them to become repeat purchasers and advocates for the brand. By consistently delivering value, addressing their needs, and exceeding their expectations, businesses can foster long-term relationships with customers, leading to higher CLV. Additionally, delighted customers are more likely to make repeat purchases, refer others to the brand, and engage with additional products or services, all of which contribute to increased revenue and profitability. Therefore, prioritizing the Delight phase allows businesses to maximize the value they derive from each customer over their lifetime, ultimately driving sustainable growth and success.