Thursday, 24. September 2020 • Online
Why Customer Lifetime Value should be your north star metric
Knowing CLV is of strategic importance. By calculating CLV the company can focus on the profitability of the individual customer and thus ensure long-term profitability and stability of the entire company.
Many companies do not measure CLV at all and have no idea whether they have covered the initial loss and, particularly, if their business is profitable or not. At the same time, they are caught up in the process of acquiring more and more new customers, where they incur losses.
About the event
What will we do?
Using the CLV metrics, we can calculate which digital channels bring us the most profitable customers. By optimising digital channels, so that they attract maximally profitable customers, we can boost total profit. When optimising, it is important to know the Customer Acquisition Cost, as our aim is to increase the CLV/CAC ratio. The higher the ratio, the higher the ROI (Return on Investment).
Once we find the segment of the most profitable customers, we can study their characteristics. And then search for new customers that are like them.
About the seminar
What will you learn?
It is no secret that there are only 2 ways to grow any company:
1. Acquire more customers
2. Convince the customers to buy more from you
So far, decades of interruption marketing has focused the marketers' attention on customer acquisition.
However, acquiring customers that never come back does not mean sustainable growth.
The secret sauce for continuous growth: customers that continue to choose a company over and over again.
In a nutshell, to achieve this, you need to improve customer lifetime value.
Customer value optimization is the ongoing set of activities and tactics to increase customer lifetime value.
Where & when
24. September 2020, 14:00 - 15:00
In this webinar Valentin Radu will show us why CLV is one of the most important statistics in business and why you should implement it in your marketing strategy today!
Join this webinar to learn: why CLV matters, how to properly monitor it & how to improve it.
After the presentation, Valentin will also have a Q&A session.
Make sure you prepare your questions.