How Marketing Can Increase Customer Lifetime Value

Marketing can play a pivotal role in boosting customer profitability.

- Eric Bauer

As Chief Marketing Officer (CMO), you have great influence over the brand and ultimately Customer Lifetime Value (CLV). Activate the brand to increase the lifetime value of your customers.

BRAND: YOUR MOST POWERFUL TOOL

One of a CMO’s most important responsibilities is to shape the brand. As steward of the brand, you should identify and evaluate all customer touch points. Brand touch points go beyond marketing materials to include the office environment, customer service protocols, email communications, voice communications and social media presence.

Top CMOs set the bar for brand loyalty. No one else will care more for the brand than you do. Take the time to evaluate each touch point. Identify successes and points of breakage, and adjust the marketing team’s strategy as necessary.

HOW TO CREATE LOYAL CUSTOMERS

Customer loyalty is critical to the success of your go-to-market strategy. It’s also critical to your marketing budget. It costs between four and ten times more to acquire a new customer.