LetsVeriFy

 Customer Lifetime Value (LTV) is one of the most significant indicators for a business success. Why so? Customer acquisition costs will soon outweigh revenue if consumers aren’t encouraged to return, as the cost of advertising increases. It is well recognised that  brand loyalty programs  assist digital organizations in achieving various objectives, including obtaining the most significant number of consumers, increasing the lifetime value of each customer, and retaining existing customers. What Is Customer Lifetime Value? This is the average amount of money a consumer will spend with your brand throughout their lifetime, or “lifetime value” (LTV). When a customer stays with you for an extended period, their lifetime value (LTV) rises. The most valued consumers are those who buy frequently and spend a lot of money. To calculate lifetime value, you must consider a customer’s potential after the initial sale. Why Is LTV Important? You need to k...

  You must have already experienced some of your friends or colleagues recommending you a particular brand when you are about to buy a new product. If you are a shop owner, you must have seen that some of your customers are sticking to a particular brand even when competitive brands are providing better prices. Such phenomena is called brand loyalty.  Brand loyalty programs  help your brand to retain and develop a loyal customer base and help in business generation. By having a loyal customer base, a brand is able to sustain the fierce brand battle and can win the rat race in the long run. Brand loyalty is a faithful attitude of customers towards a particular brand even while getting competitive rates from other brands. A  l oyalty rewards program  can generate loyalty towards a brand, but a product and service must maintain quality to retain loyal customers. It not only depends on choosing your brand over others repeatedly. Rather it is more involved in creatin...