About This Chapter
Customer Lifetime Value - Chapter Summary
Whether you are looking to lead a corporate training workshop or train employees one-on-one, this engaging chapter on customer lifetime value can help. Your employees can review short videos on the customer lifetime value (CLV) formula, managing customer loyalty programs and the customer lifetime value calculation. Each lesson is accompanied by a multiple-choice quiz to ensure full comprehension.
How It Helps
- Provides applications: Provides specific direction on tracking customer loyalty programs and increasing potential CLV, giving your employees strategies they can implement right away.
- Keeps everyone on the same page: If your employees work different shifts in different locations, you can still ensure everyone understand customer lifetime value by using this mobile-friendly chapter.
- Offers foundational knowledge: When your teams review these lessons, they'll learn more about the basic aspects of CLV and monitoring customer loyalty programs.
This chapter has been designed to help your employees complete the following objectives:
- Define CLV and its uses
- Monitor and manage a customer loyalty program
- Track customer loyalty programs and analyze the results
- Detail the challenges and benefits of using the CLV formula
- Use specific techniques to increase potential CLV
1. Customer Lifetime Value (CLV): Definition, Calculation & Uses
Customer lifetime value (CLV) is a marketing metric used to see how valuable repeat customers are to your business. In this lesson, we'll define CLV, learn how to calculate it, and discuss how it could influence your customer loyalty program.
2. How to Monitor & Manage a Customer Loyalty Program
This lesson will explain how to manage a customer loyalty program. You'll also learn how to utilize software to monitor loyalty programs. Read on to find out more.
3. Tracking Customer Loyalty Programs & Analyzing Results
Companies have created customer loyalty programs to try to increase returning customers and profits. This lesson will take a look at tracking loyalty programs and analyzing the results.
4. CLV Formula: Benefits & Challenges
In this lesson, we'll define customer lifetime value. We'll notate the formula and discuss an example. Then, we'll explore the benefits and drawbacks of the metric.
5. How to Increase Potential CLV: Techniques & Examples
Increasing potential Customer Lifetime Value can help you determine what to invest in customer acquisition and retention. In this lesson, you'll find some techniques that can help grow your CLV.
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