The Strategy That Dramatically Increased Tenzo Tea's LTV by 50%
Steve O'Dell is the Co-founder and CEO of Tenzo Tea, a DTC organic matcha tea company. Available in thousands of stores and featured in Entrepreneur, CBS, and People, Tenzo Tea provides healthy energy through organically sourced and sustainable ingredients. Steve's roots are deeply entrenched in entrepreneurship, and he is an investor in multiple startups, including Jibby Coffee. He also co-founded The Odd Job Brothers, KOTU Inc., Iliad Tech, ACCESS, and Ad Valorum. Steve attended UCLA briefly before deciding to leave to explore entrepreneurial opportunities.
In this episode…
In the digital world of ecommerce, where customer satisfaction reigns supreme, increasing lifetime value (LTV) isn’t a choice — it's a necessity. What can you learn from brands that have leveraged this metric to accelerate business growth?
Steve O'Dell, a seasoned ecommerce growth expert, highlights the importance of providing a better customer experience to retain customers longer. Focusing on existing customers can boost ROI, so understanding and applying LTV metrics is essential. LTV measures the aggregate value of all customers, and increasing LTV impacts marketing strategies, profitability, budget allocation, and customer service expenditures. To boost LTV, Steve's company uses a variety of strategies. As a startup, Steve quickly addressed objections, tracked them through surveys, and then experimented with bundles, subscriptions, and product iterations to modify or improve products. By analyzing LTV, they were able to make adjustments and increase sales, which led the brand to increase its LTV by 50% within two years.
Join host Raphael Paulin-Daigle in this episode of the Minds of Ecommerce Podcast as he interviews Steve O'Dell, the Co-founder and CEO of Tenzo Tea, on the impact of lifetime value on ecommerce growth. Steve shares Tenzo’s blueprint that increased LTV by 50%, his ecommerce journey, and how to address objections head-on. This insightful conversation provides valuable takeaways for anyone looking to refine their ecommerce growth blueprint.