Have you ever wondered how much a single customer is truly worth to your business? It's more than just the amount they spend on their first purchase. Customer Lifetime Value (LTV) takes the big picture into account, considering the total revenue a customer brings in over their entire relationship with your company.
Tracking LTV is crucial because loyal, repeat customers are the backbone of any successful business. But how do you identify your high-value customers and tailor your marketing efforts accordingly? Here's where the power of predictive analytics comes in.
We'll also be taking a closer look at a real-world data set from an IBM Watson marketing campaign, where we use Infer to predict LTV.
The video below showcases the capabilities of Infer, a next-generation data platform. Unlike traditional LTV analysis that requires a team of Data Scientists; Infer builds a predictive model on the fly using our extension of SQL (SQL-inf). This allows an analytics team to identify the biggest drivers of customer lifetime value and explain precisely how they have an impact.
Now imagine having a crystal ball that reveals which customers are most likely to become your brand champions. Armed with this information, your marketing team can make informed decisions about who to target and how to cultivate those valuable customer relationships.
Ready to unlock the power of LTV prediction? Watch the video embedded below to see Infer in action and learn how it can help you maximise the lifetime value of your customers!
