Customer Life Time Value In Digital Marketing

Abstract

In order for businesses to successfully maintain their client connections, it is essential for them to have a comprehensive understanding of their customer lifetime value. Nevertheless, because relying on a single data mining method reduces the difficulty of the research challenge in accurately determining the worth of a client's lifetime in non-contractual encounters. In particular, the customer lifecycle value theory-based segmentation of customers and evaluation of customer value are the focal points of this study. Through the utilization of research on customer value measurement and customer segmentation from the point of view of customer value, it offers a model for customer segmentation. When it comes to the rapidly developing field of digital marketing, it is becoming increasingly crucial for businesses who are attempting to raise their long-term profitability to comprehend and maximize their Customer Lifetime Value (CLV). Specifically, the notion of Customer Lifetime Value (CLV) is studied in this study, with a specific focus on its importance to the development of efficient marketing strategies and the achievement of long-term expansion. The implementation of intelligent engagement, the customization of customer experiences, and advanced data analytics can not only help businesses anticipate the long-term worth of their customers, but it can also help them improve that value. The purpose of this study is to investigate numerous models and indicators that are utilized for the computation of Customer Lifetime Value (CLV), with a particular emphasis on their application in customer segmentation, optimization of marketing budgets, and enhancement of customer retention. Through the utilization of case studies and examples derived from a wide range of industries, the article demonstrates how leading businesses make use of customer lifetime value (CLV) insights to cultivate customer loyalty, boost income, and achieve a competitive advantage in the digital marketplace. Last but not least, this meticulous investigation highlights the crucial relevance of Customer Lifetime Value (CLV) in the era of digital technology and recommends its implementation as a fundamental assessment in activities related to digital marketing.