From the course: Predictive Customer Analytics

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Generate customer loyalty

Generate customer loyalty - Python Tutorial

From the course: Predictive Customer Analytics

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Generate customer loyalty

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- [Instructor] In business, there are some golden sayings that everyone needs to appreciate and adapt. 80% of your business comes from 20% of your customers. It costs 10 times less to sell to an existing customer than to find a new customer. Different customers generate different levels of sales for a business. You need to identify and nurture these top customers to ensure a steady stream of revenue. But the main question is, how indicative of future revenue is the past revenue? Is your best customer in the past going to be your best customer in the future? Is this outcome is in your hands? You want to identify these customers who bring you significant future business and nurture them and ensure that they are happy and satisfied with you. How do you do that? You need a way to compute a customer's lifetime value. So let's get back to our buddy, Roger. Roger just bought a laptop from you. So what kind of future revenues…

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