Customer lifetime value: How understanding your current customers can help to find new ones

David Green and Aaron Smith
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David Green: Devslove Digital, Canada
Aaron Smith: Blacksmith Local SEO, Canada

Journal of Digital & Social Media Marketing, 2023, vol. 10, issue 3, 199-208

Abstract: Customer lifetime value is a linear term that defines aggregate transactional value over time. Simply put, it represents how much a customer relationship is worth to an organisation. It is an important metric that businesses looking to scale need to understand and should evaluate how best to leverage. This paper seeks to expand the understanding and appreciation of customer lifetime value as a metric for making business decisions across the various marketing media.

Keywords: customer lifetime value; customer retention; e-commerce; lead generation; customer segmentation; RFM analysis (search for similar items in EconPapers)
JEL-codes: M3 (search for similar items in EconPapers)
Date: 2023
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