What is a Customer Worth?
How much should a small business spend on marketing? The answer to that question begins with a conversation about how much a new customer is worth to you. As you evaluate how much can you afford to spend to acquire a new customer consider what a customer will be worth over time. To determine the value think about the following questions: What will the average customer spend each year? How many years will the average customer continue to do business with you What is your typical gross margin Combining these factors and applying a discount rate to adjust for inflation will give you a...
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Lifetime Value of a Customer Marketing Pyramid & Budget Marketing Calendar Business Plan Outline
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