Guest Blog: How Should You Grow and Sustain Your Customer Lifetime Value?

This week we feature an article by Lukas Sitar who writes about growing and sustaining customer lifetime value for the entire customer cycle.
While many marketers look at metrics like conversion rates, net profit per sale, average value of a lead, and average customer order, they often overlook their customer lifetime value. This is a metric that allows you to compete with your biggest competitors, establish longevity in your marketplace, and allow you to maximize the effectiveness of your marketing campaigns.
But just what is customer lifetime value? It’s simply the average profit you’ll generate with your customers over the lifetime of the relationship. By working to increase your customer lifetime value, you can afford to spend more on advertising, out-market competitors, and increase company profits.
The challenge really lies in growing customer lifetime value. Most marketers focus on maximizing the profits from the initial sale, but how do you grow and sustain