Question

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.

Answer 1

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

What is customer lifetime value data?

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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