2. what is the lifetime value of customers and how can marketers maximize it
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Maximizing customer lifetime value is important for business success. The top 20% of customers account for 80% of revenue, so companies should evaluate each customer's lifetime value to identify their profitability. By prioritizing marketing efforts towards the most profitable customers based on their estimated lifetime net profit including all costs of marketing, service, and more, companies can focus on maximizing returns.
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2. what is the lifetime value of customers and how can marketers maximize it
- 1. Maximising Customer Lifetime Value
- 2. Without customers, you don’t have a business
- 3. But not all customers are profitable!
- 4. Top 20% of customers account for 80% of revenue
- 5. Evaluate your customer’s lifetime value CLV estimates the net profit from a customer over a period of time including all factors (marketing, service, etc.)
- 7. Prioritize and focus your marketing accordingly
- 8. Thank You Created by Ashutosh Rungta, IIT Roorkee, during an internship by Prof. Sameer Mathur, IIM Lucknow www.IIMInternship.com References: All images have been taken from Google image search and do not violate any copyrights.