91% see more profit in customer lifetime value  A recent US study found that 91% of businesses are investing more in lifetime customer value because it is more profitable that customer acquisition. Customer lifetime value amounts to total potential value of a prospect and focusing on it involves prioritising it over single transactions. The lifetime value […]

91% see more profit in customer lifetime value  A recent US study found that 91% of businesses are investing more in lifetime customer value because it is more profitable that customer acquisition. Customer lifetime value amounts to total potential value of a prospect and focusing on it involves prioritising it over single transactions. The lifetime value of an enquiry or potential customer, is dependent on a range of factors including:  Conversion rates The average sales per transaction Margins secured Repeat purchase behaviour Referral behaviour  All five of these critical metrics are directly impacted by an organisations brand. Consumers are more likely to be converted if they are familiar with and share values with the brand. Consumers are more likely to buy more each time if they trust the brand and the people selling its products. Trusted brands can change higher prices at secure higher margins because their customers will pay to buy a brand…