The insights are based on a survey of over 150 brand leaders and in-depth interviews with executives from Informatica, PepsiCo, Electrolux and RedBubble.
Humanizing + Analyzing Relationships To Drive Revenue, Retention And Returns highlights the importance of understanding LTV in order to inform strategic business decisions and marketing budget allocation.
The report found opportunity for improvement:
“More sophistication with LTV can help companies focus their marketing programmes and budgets and respond to shifting markets,” said Donovan Neale-May, executive director of the CMO Council. “Our study found that a majority of CEOs, chief revenue officers, sales leaders and line-of-business executives want to see quarterly LTV to help them make better strategic decisions.”
LTV is an indicator of how well a company identifies and nurtures profitable, long-term customer relationships. The biggest challenges for organisations include:
The full report is available for download.