Computing Customer Lifetime Value (LTV) doesn’t need to be a puzzling dilemma. The most important aspect of LTV is understanding the dynamics of the metric and how to increase the value. To effectively increase LTV, a successful business capitalizes on its valuable, already-existing client relationships over a long period of time.
A critical component in increasing LTV is customer segmentation since some customers are more profitable than others. By focusing on your existing consumer base and identifying defining attributes of your customers, businesses are able to accurately predict profitable groups of customers. RevGuard analyzes your customer base through their patent-pending technology, which integrates seamlessly into virtually any CRM. The automated platform recognizes customers based on their unique characteristics, personalizes messages with no guesswork, and communicates attractive offers on pricing, discounts, down-sells and save-sales based on the science of A/B split testing.
LTV is all about anticipating future consumer concerns. By testing different promotions and incentives to engage customers, companies have the ability to increase conversion, save, and retention rates, providing decision-makers with a keen awareness of a client’s needs and how to best answer them. Using RevGuard’s intelligent data analysis and A/B metrics to optimize LTV, businesses can offer their customers tailored, intuitive offers that maximize profitability and the dollar value associated with the long term relationship of the customer.