Take into account the level of competition

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Incorrect customer segmentation. It is important to segment customers by behavior, value, and other characteristics. Otherwise, you will target unprofitable customer segments and use irrelevant messages. Calculating LTV based on short-term data is a path to distorted figures. It is important to take into account seasonal and economic changes that affect customer behavior. Incorrectly selected calculation period. Time intervals that are too short or too long may give false results.

LTV should take into account not only the azerbaijan telegram initial sale, but also the repeat purchases a customer makes over time. Customer lifetime value is not a static metric. Regularly reviewing and adjusting calculations based on new data and market changes is a must-have. How to increase customer lifetime value? Before making a purchasing decision, consumers consider offers from3-4 brandsMarketers must in the market and do everything possible to attract and retain customers.

Unfortunately, advertising creatives alone are no longer enough. If you want to increase the lifetime value of a customer, follow these strategies: Improve customer service , both offline and online. Develop scripts for communicating with interested consumers, ensure friendly staff at physical locations, and master the art of crisis communications. Use customer data to create personalized recommendations and offers . This increases the likelihood that customers will purchase more products or services that meet their needs.