About 3 in 4 global company marketers (primarily based in Europe) agree that customer lifetime value (CLV) is an important concept for their organization, according to a new report from Econsultancy and Sitecore. As part of the study, marketers were asked to identify the tactics and strategies that have been found most effective for enhancing CLV to-date, along with the most effective tools for today and tomorrow.
According to company respondents, the most effective tactic to-date for increasing CLV has been improvement to customer services (42% citing as a top-3 tactic), with personalized interactions (34%), cross-selling/up-selling (29%), more effective use of data (26%) and customer segmentation/personas (24%) also in the mix. Fewer (18%) pointed to loyalty programs and improved pricing for repeat purchases (15%) as effective strategies. Read the rest at MarketingCharts.