Many industrial B2B companies don’t understand their customer lifetime value (CLV)or why it’s important. This paper will discuss how to find your organization’s CLV, why it matters, and the various steps you can take to improve it. A better CLV means a better relationship with your customers and increased profitability and growth for your company.
CLV can vary based on customer type and segment, and knowing these details helps you focus your resources on your most profitable customers. Many B2B industrial companies struggle with CLV because they don’t focus on customer service and maintaining consistent communication with their customers. Solving these problems and taking other steps to improve your CLV is essential for success.