By using hyper-personalized marketing and predictive recommendation functions, the interaction rate and conversion rate between companies and customers will increase. If marketers want to measure and evaluate the above two effects, they can use the key performance indicators of customer lifetime value to make judgments.
Customer lifetime value is defined as the value a customer australia whatsapp number data 5 million brings to a business over a period of time. Key indicators that determine customer lifetime value include average order value, purchase frequency, gross profit and churn rate.
Investing in marketing automation tools can make marketers more efficient at collecting and processing this data. At the same time, it can also be used to create highly accurate user profiles, identify and predict different customer lifetime values of low, medium or high. After obtaining the above information, marketers can prioritize customers with high customer lifetime value levels, thereby increasing return on investment and building long-term customer loyalty.
The Internet era has opened up endless possibilities. The customer journey is no longer linear, but jumps between multiple and complex channels. Customers can now view your brand from various perspectives. They now tend to engage in conversations and purchases through multiple touchpoints and brands, and therefore expect seamless connections between touchpoints and channels along the journey.