Customer Lifetime Value
Estimate the current and future value of your customers.
Customers have different monetary value depending on their features. Ensure you engage with the right customers.
Customer Lifetime Value
What is it
- Estimate the current and future value of your customers.
Why is it important
- Customers have different monetary value depending on their features.
- Ensure you engage with the right customers.
- It is important to understand the value of different types of customers when steering a company.
How do SMAI solve it
- Use AI to estimate a survival model depending on different features of customers.
- A fully interpretable approach which provides you with a full description across customers and types.
- Use the CLV in decision making and combine with churn, winback and sales models.
Why focus on Customer Lifetime Value
Validate the Customer Lifetime Value. It is easy to use the current subscription fee or last months purchases in describing the value of a customer. For many reasons this number does not represent the future value of the customer and does not take the long standing relationship between the customer and the business into consideration.
Interested in how SMAI Consulting can help your business
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