Customer lifetime value (CLV) is a business metric that estimates how
much money the average customer could bring in over the course of their
relationship with the business. Different items, prices, purchase frequency,
and volume can make it hard to figure out a client's lifetime value. But if you
have the right tools, you can quickly figure out the value of a client over
time.
Getting to know CLV has many benefits, including helping you make
smarter marketing and sales decisions. This manual explains what client
lifetime value is and how to figure it out. It also has other important
information that managers and business owners should know.
What is customer life time value?
Customer lifetime value is a metric that shows how much money a
company can expect to make from a typical customer over the time that
person or account stays a customer.
When figuring out CLV, it's best to look at both the total average profit and
the total average revenue that a customer brings in. Each gives you
important information about how customers interact with your business and
whether your marketing strategy as a whole is working the way you
planned.
#marketing #ConsumerLifetimeValue #easymarketing
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10 сен 2024
