Explain what is meant by customer lifetime value

Reference no: EM133713945

Homework: Customer Lifetime Value (CLV)

Overview

For this homework, you will prepare a creative deliverable about Customer Lifetime Value (CLV) explaining the importance of this concept. And how it is calculated. Follow the instructions below.

Instructions

In this module, we focused on metrics which a CRM software platform can measure which helps companies determine if they are meeting CRM goals. One of the metrics discussed is Customer Lifetime Value (CLV).

A. Prepare a creative deliverable of your choice (written document, memo, infographic, PowerPoint presentation, etc.) which provides an overview of Customer Lifetime Value (CLV).

B. Be sure to include the following in your deliverable:

a. In your own words, explain what is meant by Customer Lifetime Value (CLV).

b. Why is calculating CLV important?

c. Provide an example of a CLV calculation - be sure to show the calculation AND discuss what the results mean (You are welcome to utilize an example that you find online, but be sure to cite your source properly using APA. Refer to the APA Resources in the Academic Support area of the "Student Resources" button on our course Home page.).

Reference no: EM133713945

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