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The Value of Every Single Customer: How to Calculate Customer Lifetime Value
Measurement & Analytics — Fri., Mar. 15, 2024Your key metrics or key performance indicators (KPIs) are crucial in measuring customer satisfaction and conversions. One important metric is customer lifetime value (CLV), which calculates the total profit expected from a customer throughout the relationship.
CLV includes revenue from purchases, add-ons, and subscriptions. Focusing on this metric can boost stable sales and identify high-value customers for targeted marketing and sales campaigns, resulting in a higher ROI.
B2B companies must prioritize maintaining strong relationships with clients, as they have longer and more complex sales cycles. By increasing CLV, businesses can improve customer retention and identify areas for growth and value-adding opportunities.
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The Value of Every Single Customer: How to Calculate Customer Lifetime Value
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