What are some key terms in CRM analytics?
An example of an AI chatbot conversation about understanding CRM analytics terminology.
What are some key terms in CRM analytics?
Key terms in CRM analytics include Customer Lifetime Value, Churn Rate, and Conversion Rate. Would you like to know more about any specific term?
Can you explain Customer Lifetime Value?
Customer Lifetime Value (CLV) is the total revenue a business can expect from a single customer account throughout their relationship.
What is Churn Rate?
Churn Rate is the percentage of customers who stop using a product or service during a specific time period. It's crucial for understanding customer retention.
How does Conversion Rate impact sales?
Conversion Rate measures the percentage of visitors who take a desired action, like making a purchase. A higher rate indicates effective marketing.
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