Managing Enterprise Accounts: Customer Lifetime Value
As a salesperson, you're in the business of creating customers, not buyers. You want the loyalty of a long-term relationship, not a one-off purchase. One component of developing loyalty is understanding a customer's lifetime value (CLV), or, the total revenue you can expect during their entire association of doing business with you. In this program, we'll talk about how to calculate that number and why it's important. We'll discuss churn and retention rates, revenues and margins per customer, and the formulas used to determine these values.
- 7 minutes
- Format: Video