For many marketers, customer lifetime value (CLV) is a primary KPI for identifying their best customers. Jay Dunn, partner and CMO of Chief Outsiders, believes this is a mistake. He says the concept of CLV has changed in recent years and warns that marketers must reevaluate what it means to them.
In this episode, I sat down with Jay to discuss the common misconceptions of CLV, the value of post-purchase email marketing, the fine line between customer loyalty and bribery, and his life on the road as a professional musician. You'll also hear about:
** Why marketers should reevaluate the meaning of CLV.
** One thing email marketing programs are often lacking.
** How many purchases it takes to label someone as "best customer."
** The similarities between B2C and B2B companies.
** How to make more money from more people more often.
For more information on Chief Outsiders, contact Jay or visit them online:
JDunn@ChiefOutsiders.com.com | @JayDunnOnline | http://www.ChiefOutsider.com
