Creator of Knowledge
Information Resources Management Association
Advancing the Concepts & Practices of Information Resources Management in Modern Organizations

Customer Lifetime Value

Customer Lifetime Value
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Author(s): Kijpokin Kasemsap (Suan Sunandha Rajabhat University, Thailand)
Copyright: 2018
Pages: 10
Source title: Encyclopedia of Information Science and Technology, Fourth Edition
Source Author(s)/Editor(s): Mehdi Khosrow-Pour, D.B.A. (Information Resources Management Association, USA)
DOI: 10.4018/978-1-5225-2255-3.ch137


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This article indicates the prospect of Customer Lifetime Value (CLV) and the importance of CLV in global marketing. CLV is the total of the financial profit, calculated from the existing period to the future. CLV develops the optimal strategies for customer engagement, promotes the understanding of potential value of a customer, and enables the workforce to effectively improve customer relationships. CLV can be a crucial perspective for costs to be associated with the promotions and communications to attract the new customers and retain the existing customers. CLV can help individuals estimate a customer's monetary worth to a business after factoring in the value of the relationship with a customer over time. The article argues that promoting CLV has the potential to enhance marketing performance and reach strategic goals in global marketing.

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