Customer Lifetime Value
Customer lifetime value enables an organization to calculate the net present value of the profit an organization will realize on a customer over a given period of time. Retention Rate is the percentage of the total number of customers retained in context to the customers that approached for cancellation.
Read more about this topic: Customer Retention
Famous quotes containing the words customer and/or lifetime:
“The elements of success in this business do not differ from the elements of success in any other. Competition is keen and bitter. Advertising is as large an element as in any other business, and since the usual avenues of successful exploitation are closed to the profession, the adage that the best advertisement is a pleased customer is doubly true for this business.”
—Madeleine [Blair], U.S. prostitute and “madam.” Madeleine, ch. 5 (1919)
“The modern American tourist now fills his experience with pseudo-events. He has come to expect both more strangeness and more familiarity than the world naturally offers. He has come to believe that he can have a lifetime of adventure in two weeks and all the thrills of risking his life without any real risk at all.”
—Daniel J. Boorstin (b. 1914)