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 of The Commerce Marketer Podcast, I sat down with Jay to discuss the common misconceptions of customer lifetime value, 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 | @JayDunnOnline | www.ChiefOutsiders.com
We welcome your feedback and invite you to share any topics you'd like to hear more about. Greg.Zakowicz@Bronto.com | @WhatsGregDoing
