Customer Lifetime Value Toolkit
What the advantages of the Customer Lifetime Value (CLV) are
What data you need to calculate the CLV
Where you get the required data from
How to calculate the CLV
How to increase the CLV
Marketing activities can be very expensive. In order to increase the efficiency and benefit of marketing, decisions should be well-considered and based on a solid basis. This requires a KPI that not only focuses on short-term revenues, but also takes into account the business relationship in its entire depth and length: the Customer Lifetime Value (CLV). Investments that only become noticeable after a certain time thus receive their deserved attention. Just think of customer loyalty, which leads to more existing customers and ultimately provides the majority of revenues in many companies.
With the Customer Lifetime Value, concrete decisions can be made regarding profitable marketing budgeting. Depending on the value of a customer or customer segment, online merchants can either raise or reduce the investment. Customers who potentially bring a higher profit thus receive the necessary attention, whereas resources are saved on less profitable customers. This balances the cost-benefit ratio.
The interactive CLV Toolkit gives you all the information you need to measure Customer Lifetime Value and then increase it. The bonus: you can add notes and mark the items in the checklist with one click as done.
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