Ultimately, you don’t need to get bogged down in complex calculations – you just need to be mindful of the value that a customer provides over their lifetime relationship with you. Learn how to improve customer loyalty in our ultimate guideĬLV is distinct from the Net Promoter Score (NPS) that measures customer loyalty, and CSAT that measures customer satisfaction because it is tangibly linked to revenue rather than a somewhat intangible promise of loyalty and satisfaction.įind out why a customer experience platform is vital in the new experience economy Why is customer lifetime value important to your business? Knowing the CLV helps businesses develop strategies to acquire new customers and retain existing ones while maintaining profit margins. It’s an important metric as it costs less to keep existing customers than it does to acquire new ones, so increasing the value of your existing customers is a great way to drive growth. Customer lifetime value is the total worth to a business of a customer over the whole period of their relationship.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |