Identify the most relevant customers directly and thus increase the company's profitability
Customer Lifetime Value (CLV) - what is it?
FAQs Customer Lifetime Value (CLV)
How is the CLV calculated?
- - The cost of customer loyalty
- - Temporary actions or contracts
- - Offers or discounts for the customers
What are the limits of CLV?
"Refine the revenue of your business by being able to more precisely target customers who offer you added value - and identify early on those customers where extra effort would certainly not be worthwhile."
Dr Eric Trumm, Head of Data Science Workshop
Video: Customer Lifetime Value: 4 things you need to know about CLV!
How much is an individual customer worth to me? How much does a new customer cost me compared to an existing customer? But what is CLV analysis anyway and what do I have to consider for a successful implementation?
Our video answers this and much more.
- Definition of Customer Lifetime Value (CLV)
- What are the concrete advantages of using CLV in my company?
- What are the different methods of CLV analysis? (existing vs new customers)
- How does the implementation process work?