Like long-term revenue, short-term revenue is a critical part of a healthy business. Essentially, how can your business make it to the long term without short-term profits?
Having the liquidity available today is better than in 2-3 years because you can use these existing profits to drive more business growth and achieve more revenues.
With Clerk's AI-powered Audience Segmentation tools, you can boost your short-term revenues by targeting the customer segment that purchased more in a year than your customers' average. This tactic can be more effective in generating short-time profits than focusing on customers with high lifetime value who might only be profitable in 2-3 years.
So in this article, you will learn how to implement this strategy to boost your short-term revenue, step by step.
Analyze your customers with Clerk’s Customer Analytics
As the first step, you can use Clerk's Audience Segmentation tool to identify customers whose revenue per year are higher than the average. It's important to note that this number varies depending on the specific industry and peculiarities of the market.
We suggest you create several audience segments by testing different segmenting criteria provided by Clerk. Then, you will be able to analyze them in Clerk's Customer Analytics and identify the ones providing you with the highest revenue per year.
As the following example shows, you might discover that Loyal Customers who tend to buy expensive products are your customer segment with the highest revenue per year, namely 317% more than your customers' average!
Clerk’s Customer Analytics
Pro tip: When targeting a specific customer segment, it's important to ensure that you can get the most out of it by preparing a marketing strategy customized for this customer group. For example, when the target audience is Frequent Buyers, your goal should focus on increasing their brand stickiness and loyalty and gradually nurturing them into VIP customers.
After you’ve identified your Audience segment, you can further refine your selection by segmenting your customers based on their interests. This extra step will significantly improve the conversion rate of your ads, because you’re now targeting recipients who are actually interested in specific products on your e-commerce website.
Our Interested In parameter is the most advanced and unique feature in our Audience tool that will allow you to find potential buyers for your products.
Clerk tracks every action of your customers, from click paths and page views while they browse, to search history and order history. Then, Clerk’s Audience Segmentation combines all this information into a data model that can identify what your customers will most likely be interested in buying, even if they have not bought anything like it yet.
In the example below, we are refining our Audience segment with the highest revenue per year by selecting only customers who have shown an interest in shoes/ footwear products.
Clerk.io’s Audience: Interested in Parameter
Integrate Clerk’s Audience Segmentation with Ads platforms
Integrating Clerk's Audience with your Ads platforms allows you to run more targeted ads and effectively increase the ROAS (return on ads spend).
Create ads based on the most popular products for your Audience
By using Clerk’s Audience in combination with Google and Facebook, you can finally create ads focusing on the best sellers products for your specific Audience. For instance, you can advertise your best-selling shoes and then target customers interested in that specific product category.
Google Ads: Setting up ads to promote best-selling shoes
Synchronize Clerk’s Audience with Google and Facebook
Integrating Clerk’s Audience with Google and Facebook is quick and intuitive. Our integration guide will show the process step by step.
Clerk x Google integration guide
Once the integration is done, you will be able to automatically and continuously synchronize all the Audiences that you have created from Clerk to Google and Facebook. For example, in Google Ads, you can find your Clerk's Audience segments in Audience Manager > Your Data Segments.
Create Lookalike Audiences
You will see a unique double AI magic after using Clerk Audience in combination with paid advertising platforms.
With Audience, you can first create segments of targeted customers that have already been shopped on your webshop. And then, by sending the data of these customer segments to Facebook or Google, you will be able to use the information to find similar users that have not necessarily been on your webshop yet. This means creating a bigger group of targeted audiences interested in your products. Doing so will definitely ensure an outstanding ROAS (return on advertising spend).
Facebook x Clerk: Create a Lookalike Audience feature