EP 263: What Is Customer Lifetime Value?

The Certified BADA$$ Online Marketing™️ Podcast

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In today’s marketing fundamentals episode, we’re talking about a very important business concept: customer lifetime value and why it matters in your online business.

This is one of two universal business metrics. The other is customer acquisition cost.

Customer lifetime value tells you how much a customer is worth to you so you can figure out how much you’re willing to pay to acquire a customer.

This is especially relevant in the online marketing space where the cost to acquire a customer is generally higher than traditional product businesses.

WHAT YOU’LL LEARN IN TODAY’S EPISODE:

The two metrics every business needs to know
What customer lifetime value is
What customer acquisition cost is
What the biggest cost is in the online marketing space
Why you want to find ways to increase customer lifetime value
Why it can be difficult to determine customer lifetime value and one tool that can help you figure this out
Where I started out with customer lifetime value and where I am now
Key questions you need to ask: how do I increase customer lifetime value and decrease customer acquisition cost
How this data can help you refine your business

RESOURCES IN TODAY’S EPISODE:

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