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Understanding Customer Lifetime Value
Customer lifetime value is an important concept to understand from a marketing standpoint. The cost of obtaining a customer and gaining that first sale is often much higher than the costs of maintaining the relationship with the customer. Long term thinking like this can increase your marketing options and will give you a better chance of succeeding as a company. The short video below gives some additional explanation of lifetime customer value. The accent of the narrator alone makes the video worth watching.
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