Companies are keen to measure the spending and value that customers like Mary are actually worth. Traditional methods of customer lifetime value (CLV) have to be augmented to measure engagement and word of mouth (WOM) values as well.
We have seen that customers today have more power than in the past because they have more information and control over the communications, but in return willingly give more data to companies. This chapter looks at value created both for customers and companies and how it can be capitalized for mutual benefit.
Traditionally, companies have attempted to measure value by assessing customer acquisition, retention, and loyalty through measures like customer equity and CLV. These in turn ...
Get The Connected Consumer now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
