Businesses invest a lot in numerous customer acquisition and retention strategies to gain fresh customers and see stable financial growth. However, customer acquisition vs customer retention – which one is more important? This question is unjustifiable, as both ar
Understanding and knowing what your business needs means knowing your customer lifetime value. Knowing more about it will enable you to plan for growth. Start by measuring and defining this value as early as possible in your business. In one sentence, customer lifetime value (CLV) refers to the total amount of money a customer will spend with your business if they continue to buy from you on an ongoing basis.
Using Machine Learning To Grow Customer Lifetime Value (1 of 2) In today’s customer-centric market, it’s very important to get to know a customer’s lifetime value (CLV). Customer Lifetime Value helps businesses concentrate their activities around their most “profita