Question

According to the mini-lecture and text, ___ % of a manufacturer's profit comes from repeat purchases and as a result this is why lifetime customer value (LCV) is so important.

Answer 1

90% of a manufacturer's profit and income comes from repeated purchases from returning customers.

What is Lifetime Customer Value (LCV)?

Lifetime Customer Value is the entire contribution of a customer to a brand or business enterprise over the course of their relationship.

It's an essential metric since keeping returning customers requires less than acquiring new ones, thus improving the value of your existing customers is an excellent strategy to generate growth and profit.

Therefore, we can conclude that 90% of a manufacturer's profit and income comes from repeated purchases from returning customers.

Learn more about Lifetime customer value here:

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