Customer Lifetime Value2021-09-16T16:35:26+01:00

Get more sales and profit from your customers with a Customer Lifecycle Strategy

With a Customer Lifecycle system, you aim for sustainable growth of your turnover.
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Customer value development or Customer Lifetime Management is essential in every business today. Acquiring new customers costs more than retaining existing ones. But how loyal are your customers and when and why do they buy regularly from your competitor? To gain better insight into the so-called Customer Lifetime Value, it is essential to monitor the "customer journey". In this way, it is possible to predict which customers should be approached how and when they buy. But what if your customer data is locked up in all kinds of data silos? How are you going to get more revenue from your customers if you don't know enough about them?

To create a 360-degree customer view, it is necessary to get all customer data in one system so that it can be analysed and segmented. When transaction and behavioural data has been collected over a longer period of time, smart AI and deep learning technology can be used to create a smart customer view. CDP system an RFM matrix can be built. This matrix helps you to identify your most valuable customers. This insight makes it easier to focus on your potential-rich customers and unnecessary costs can be saved.


What can I do to increase the customer value of my customers?

Getting a customer for the first time takes the most effort. Building a relationship with your customers takes time and a lot of money. Once you have convinced the customer of the unique selling points of your company, customer retention is much less expensive. But how do you actually get more value from the customer who has already bought from you? Customer value optimization is a combination of strategy, culture, systems and data analysis. Understanding the Customer Journey of your customers is the basis of Customer Lifecycle Management. The more customers perceive your company, product or service as relevant, the better you are able to influence their behavior.


How can customer value optimization work in my company?

Good communication with the customer is essential to realize customer value optimization. In addition to one-to-one communication with the customer, data analysis of purchasing behavior and surfing behavior is essential. In this way we build a so-called 360 degree image of the customer. When it is known what drives a customer in his purchasing behavior, relevant communication can take place at the right time. The greater the relevance at the right time, the greater the conversion on your communication and it will not be regarded as undesirable but as a service. This may seem simple, but it certainly isn't in practice. There is a lot involved, both in IT and within the organization. This requires specific knowledge and experience.


When the basic ingredients for customer value optimisation and customer lifecycle management as described above are in place, the next step is to predict the behaviour of your customers. For this we use Artificial Intelligence and Machine Learning solutions. With AI-driven Predictive Analytics methods, you can predict what your customers will buy when and even where. This way, you can more easily prevent "no-sales", resulting in an improved service experience. In addition, it ensures a better inventory position which positively influences your cash flow.

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