Most seasoned marketers say their company doesn’t measure customer lifetime value (LTV) well, according to recent research by the CMO Council and Deloitte.
The report was based on data from a survey of 150 brand leaders as well as in-depth interviews with executives from Informatica, PepsiCo, Electrolux and RedBubble.
Only 17% of the respondents say that their company follows the LTV well.
About 55% of marketers say summarizing the right data for a solid view of the customer is the biggest challenge in maximizing LTV.
Marketers say better communicating their value proposition is their most effective LTV improvement initiative right now.
62% of marketers hope to develop a unified view of the customer in the future to improve LTV.
Marketers say the most effective signals for learning how to improve LTV come from customer interactions with service / support teams.
About research: The report is based on data from a survey of 150 leading brand leaders as well as in-depth interviews with executives from Informatica, PepsiCo, Electrolux and RedBubble.