Texas Tech University

12 Terms You Should Know About Growth Automation

Customer Think

January 18, 2017

Customer Think - Computers aren't just for the front pocket of my shirt anymore. Fantasy stories like Game of Thrones are all the rage. Kids two-strap their backpacks to protect their posture later in life. Maybe you've witnessed (and appreciated) these changes yourself.

As being interested and involved in life became a social value, aka "cool" – I've simply become what's known as well-informed.

That said, today I'm bringing you 12 key growth automation terms you need to know to start growing customer lifetime value this year.

When a customer recommends your product or service to a friend, that's a referral.

The referral customer stage can be used to extend customer lifetime value and bring in new paying customers.

It's important to facilitate this process with optimized referral campaigns that have compelling rewards, mobile optimized sharing and a streamlined conversion flow. Why? According to Texas Tech University, 83% of customers are willing to refer friends, yet only 29% actually do. Your job is to nudge these customers throughout the referral funnel to become strong advocates for your brand.

Read the story here.