This report is an abridged version of Econsultancy’s Understanding Customer Lifetime Value Best Practice Guide. It provides marketers with an overview of the long-term business benefits of tracking CLV and looks at ways to increase it. The guide covers:
- Performance: What are the key benefits of tracking CLV and how can this help to improve business performance?
- Measurement: What is the formula for calculating CLV and what other models exist to help businesses track its impact?
- Retention: How can CLV help marketers recognise patterns in consumer behaviour and spot churn before it happens?
- Loyalty: Why is an emotional connection with the customer so important and how has the perception of customer loyalty changed over time?
- Actions: What can businesses do to specifically target retention, value and frequency – three of the key factors influencing CLV?