While we may want to have an easy formulaic answer to how to track LTV, it really depends on your business and your customers. How and why your track it can be unique to your business. So, what do you need to consider when making decisions around it?
Insight is a combination of data and experience when we can’t know everything. We get better at actionable insights from continuously taking action.
Marketing OKRs are a simple and effective way for companies to state and track their goals. We can then plan programs and drive initiatives towards achieving the key results. As a strategy tool, it then can steer where we put our energy. What campaigns we will run. How we spend our budget.
Sales Velocity is a metric that measures performance of both Marketing and Sales because it is influenced by both. So can be a bridge for discussion on how and what to optimize. Not a bad job for a lagging indicator.
I found myself in discussion this week with some people that were creating their first sales page. They were making making decisions about the roll out of that were based on beliefs they held. Yet bigger providers in their field were doing contrary things to achieve marketing outcomes. I believe in doing what is known to work, instead of what your cognitive bias wants you to do.