Many companies focus on
a marketing metric called a Customer’s Lifetime Value (LTV) to
determine the “value of a customer”. A customer’s lifetime
value is the dollar value projected over the entire history of
that customer’s relationship with your company. Companies use
the LTV as a means of placing greater emphasis on customer satisfaction and long-term customer loyalty.
Below is a Lifetime Customer Value calculator for your business. Simply input the Average Dollar Transaction for a Customer, the Average Number of Transactions per Year with a Customer and the Average Number of Years you expect to do business with them.
The Customer Lifetime
Value is typically an eye opener for most business
owners. Let the experts at Thatsbiz help you
understand what your customers think about your business and
communicate with them over time using email
marketing
.
