Lifetime Value (LTV) is a metric that estimates the total revenue a business can expect from a single customer account throughout their relationship. Crucial for informing customer acquisition strategies, retention efforts, and overall business planning by providing insights into long-term customer profitability.
Return on Investment (ROI) is a performance measure used to evaluate the efficiency or profitability of an investment or compare the efficiency of different investments. Crucial for assessing the financial effectiveness of business decisions, projects, or initiatives.
The ability of a product or service to keep users engaged and returning over time, often measured by metrics such as retention rate. Crucial for evaluating user loyalty and the long-term success of a product.
The stages a customer goes through from awareness to purchase and post-purchase activities. Important for designing strategies that optimize customer acquisition, retention, and satisfaction.
The tendency of consumers to continuously purchase the same brand's products over time. Essential for driving repeat business and ensuring long-term brand success.
The likelihood that a customer will continue to buy from a particular company or brand over time. Crucial for maintaining a stable customer base and ensuring long-term business success.
The loss of customers over a specific period, also known as customer churn. Important for understanding and addressing customer retention issues.
CSM (Customer Success Management) is a business methodology focused on ensuring customers achieve their desired outcomes while using a product or service. Crucial for driving customer retention and satisfaction.
A pricing strategy where a core product is sold at a low price, but complementary products are sold at higher prices. Useful for designing pricing strategies that maximize revenue from complementary products.
Customer Experience (CX) is the overall perception and feeling a customer has when interacting with a company, its products, or services. Crucial for ensuring positive interactions with a company, driving loyalty and satisfaction.
Customer Experience Management (CEM) is the process of managing and improving the interactions and experiences customers have with a brand across all touchpoints. This process is essential for building strong customer relationships and enhancing brand loyalty.
Customer Acquisition Cost (CAC) is the total cost associated with acquiring a new customer, including marketing and sales expenses. Essential for evaluating the efficiency and effectiveness of marketing strategies.