An important use of customer lifetime value data is: a. All of these are correct. b. as a replacement for market segmentation. c

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An important use of customer lifetime value data is: a. All of these are correct. b. as a replacement for market segmentation. c

. to determine the allocation of marketing resources to marketing programs. d. to decrease the need for targeting specific customer groups.

Business

1 answer:

maria [59] · Answer 1 · 2023-01-08T08:06:27+03:00

An important use of customers' lifetime value data (CLVD) is all of the options. Option A is correct.

<h3>What is customer lifetime value data?</h3>

Customer lifetime value (CLV) is amongst the most important metrics to measure as a component of a customer experience journey. Customer lifetime value (CLV) is a metric for determining how important a client is to your business, not just for a single transaction, but for the entire relationship.

It's a crucial measure since keeping existing customers costs less than acquiring new ones, thus boosting the quality of your existing customers is a fantastic method to generate growth.

Knowing the Customer lifetime value (CLV) may help organizations establish strategies for:

Acquiring new consumers and
Retaining existing ones,

While keeping profit margins intact.

Learn more about Customer lifetime value (CLV) here:

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