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Customer lifetime value: How to find the right calculation and prediction approach

Lookup NU author(s): Dr Shirley ColemanORCiD

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This is the final published version of an article that has been published in its final definitive form by Henry Stewart Publications LLP, 2022.

For re-use rights please refer to the publisher's terms and conditions.

Abstract

© 2022, Henry Stewart Publications. All rights reserved. In this age of abundant data, there are special opportunities for companies to measure the value of their customers. Such analytical action can help inform business and marketing decisions. This article gives an overview of what is meant by customer lifetime value and describes four approaches to calculating its value. We compare the pros and cons of each approach and show how engaging with the measurement activity can be beneficial for your business. Finally, the article gives guidelines so that managers can decide which approach best fits their current situation.

Publication metadata

Author(s): Coleman S, Walker D, Rahman-Chowdhury M, Ahlemeyer-Stubbe A

Publication type: Article

Publication status: Published

Journal: Applied Marketing Analytics

Year: 2022

Volume: 8

Issue: 1

Pages: 16-25

Print publication date: 01/06/2022

Online publication date: 01/06/2022

Acceptance date: 02/04/2018

Date deposited: 27/09/2022

ISSN (print): 2054-7544

ISSN (electronic): 2054-7552

Publisher: Henry Stewart Publications LLP

URL: https://www.ingentaconnect.com/contentone/hsp/ama/2022/00000008/00000001/art00003

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