Because you can't improve what you don't know. By measuring the value of customer lifetime value, you can break it down into its components (prices, sales, advertising) and address specific strategies in a more granular and articulated way, with the aim of retaining customers, progressively reducing costs and ultimately increasing profits.
Because measuring customer lifetime value allows you to identify albania whatsapp resource the “best” customers (the most loyal or the ones who spend the most). Thanks to CLV you can have a more precise idea of how much you will earn from your customers and based on this knowledge you can decide whether to increase or decrease the planned spending for loyalty or acquisition.
Why Customer Lifetime Value Gives You Access to More Accurate Forecasts. Taking customer lifetime value into account helps you make forward-looking decisions about inventory, staffing, production capacity, implement targeted actions, reduce costs, and maximize profitability by attracting the “right” types of customers.
Customer lifetime value helps answer some questions that are critical to making future strategic decisions.
How much do you need to invest to acquire, engage and retain your customers?
Is the cost of maintaining your relationship with your customers greater than their CLV?
The Four Key Benefits of Customer Lifetime Value
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