Customer Lifetime Value
Predict the customers and prospects that are going to generate more sales and allocate marketing spend based on the financial lifetime value of each.
Distinguish between customers based on business value
It’s not practical to treat every customer or prospect exactly the same. Each can and should receive different marketing messages, different offers, even different levels of service. To maximize profit for your business, you need to predict customer lifetime value (CLV) to know which customers and prospects represent the most in terms of future revenues and profit.
Data science can do exactly this. With a better understanding of CLV, you can optimize your customer relationship management efforts in a way that ensures the best possible business outcome.
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