Lifetime value
A method quantifying how much each new customer is worth. Not just for their initial order but for the lifetime of purchases from the customer.
It is important when translating traffic into sales to estimate the lifetime value of new customers. In many cases this can greatly exceed the initial order.
It is much easier to turn initial customers into repeating customers (if they were satisfied with their first purchase), than to win new customers, therefore lifetime value is an important concept for the definition of your online strategy.
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Does lifetime value appeal to you? Do you have a project coming up where it could be implemented? Why don't you get in touch with us..
