Customer lifetime value is a powerful piece of business intelligence that informs an efficient strategy for business growth. To know about that information, we have created a calculation of customer lifetime value (CLV). These calculations also provide a benchmark against growth goals and a vivid indication of company value. The CLV helps you allocate your customer procurement budget based on what the new client will actually bring to your firm. You’ll develop a better understanding of what you can spend to acquire customers.
As soon we know the customer lifetime value, we can improve it by retaining our existing customers through email marketing, SMS marketing, social media marketing, and more.