What factors affect Customer Lifetime Value (CLV)?
An example of an AI chatbot conversation about factors influencing Customer Lifetime Value.
What factors affect Customer Lifetime Value (CLV)?
Customer Lifetime Value (CLV) is influenced by factors like purchase frequency, average order value, customer retention rate, and customer acquisition cost.
How can I improve my CLV?
To improve CLV, focus on enhancing customer experience, increasing engagement, and implementing loyalty programs.
What role does customer retention play in CLV?
Customer retention is crucial for CLV as retaining customers typically leads to repeat purchases, increasing their overall value.
Can you explain the difference between CLV and CAC?
CLV measures the total revenue from a customer over their lifetime, while CAC is the cost to acquire a new customer.
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