Customer-centricity sits at the very heart of marketing, with customer lifetime value (CLV) arguably the most important metric that any business can measure in order to understand their customers. CLV equips you with a much deeper understanding of each customer’s entire relationship with your business. This is hugely powerful as the insights derived can help your business to continually improve how they acquire and retain customers, whilst ensuring that you are targeting your efforts on the most profitable customer segments.
In this module, we will explore how different customers and customer segments contribute to businesses in varying ways; the basis of a customer profitability analysis and the importance for a business to conduct this analysis; how to calculate CLV; and enhancing the value of a customer base.
Here are a number of Topics We will Look at: (Digital marketing)
Customer profitability analysis
Calculating customer lifetime value
Increasing the value of the customer base