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Customer lifetime value: How understanding your current customers can help to find new ones

Author

Listed:
  • Green, David

    (Devslove Digital, Canada)

  • Smith, Aaron

    (Blacksmith Local SEO, Canada)

Abstract

Customer lifetime value is a linear term that defines aggregate transactional value over time. Simply put, it represents how much a customer relationship is worth to an organisation. It is an important metric that businesses looking to scale need to understand and should evaluate how best to leverage. This paper seeks to expand the understanding and appreciation of customer lifetime value as a metric for making business decisions across the various marketing media.

Suggested Citation

  • Green, David & Smith, Aaron, 2023. "Customer lifetime value: How understanding your current customers can help to find new ones," Journal of Digital & Social Media Marketing, Henry Stewart Publications, vol. 10(3), pages 199-208, February.
    • Handle: RePEc:aza:jdsmm0:y:2023:v:10:i:3:p:199-208
    as

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    More about this item

    Keywords

    customer lifetime value; customer retention; e-commerce; lead generation; customer segmentation; RFM analysis;
    All these keywords.

    JEL classification:

    • M3 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising

    Statistics

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