Hierarchy of effects model and share of minds and share of hearts
There are numerous hierarchy of effects models that are covered in marketing literature. Probably the most common one was developed in 1961 and is a six stage model … Read more...
Tag: customers
Quick Online CLV Calculator
Free online CLV calculator
The following free online CLV calculator is ideal for quick calculations of customer lifetime value. If you need a more detailed calculation of customer lifetime value, please download the free Excel template for calculating customer lifetime … Read more...
Videos on CLV
There are five CLV videos available here:
- Using the free Excel CLV template (available for download on this site)
- A step-by-step guide to the CLV formula and calculation
- Using Excel to calculate CLV (without the above template)
- A guide to
Financial Metrics for CLV
Understanding the financial metrics for customer lifetime value
The full customer lifetime value calculator and the free Excel CLV template both provide a summary outcome for several related financial metrics. Please refer to the image below of the full CLV … Read more...
Relationship between CRM and CLV
CLV and Customer Relationship Management (CRM)
The customer lifetime value equation essentially views a customer as an income stream. So instead of considering the customer’s purchases as single transactions, the marketing focus becomes creating ongoing series of profitable transactions. These … Read more...
Study Notes for Segment Profiles
What is a segment profile?
A segment profile is a descriptive summary of the size, needs, behaviors and preferences of consumers within a particular market segment, with the goal of evaluating segment attractiveness and developing suitable marketing strategies.
Study Tip
… Read more...When to use customer journey maps?
Customer journey mapping is a visual technique designed to outline how:
- The brand reaches a consumer’s consideration (evoked) set
- How the consumer progresses through the buying decision process and selects a suitable brand, and
- The consumer progresses through consumption
Why most customers are just satisfied
Overtime most customers will be “just” satisfied
Many organizations find it frustrating that their customer satisfaction (CSat) scores reach a plateau and it becomes very difficult to achieve real increases in CSat. However, this is caused “naturally” and, overtime, … Read more...