Do marketers think of the long game when it comes to their customers? Maybe not, as only one-third (33%) of survey respondents report that customer lifetime value (CLV) is a measurable and reported KPI for their company, per a report from Econsultancy and RedEye.
Note: Econsultancy and RedEye surveyed 610 individuals, with the majority (66%) representing the client-side or working for an in-house team, and the remaining respondents representing agencies. For the purpose of this article, data will be based on company respondents only.
Despite the relatively low percentage of companies measuring and reporting CLV, the majority (76%) of respondents say that it is either a high priority (40%) or medium priority (36%). Only 18% say that it is a low priority, while a mere 6% say it is not a priority at all.
Even with companies prioritizing CLV, a negligible number (1%) of respondents say that their company has a mature approach to it. Some 44% of respondents describe their approach to CLV as developing, while more than half (55%) say that their company either has a basic (31%) approach or that their approach is non-existent (24%). Read the rest at Marketing Charts.