As we all saw this past year, things can change and change quickly. Customer Satisfaction metrics can be an early warning system of the health of our business. Before you see it in the other metrics like churn, retention, customer lifetime value.
A cookieless future is still in the future? Will you be ready when third-party advertisers can’t target and track as well? Can you change your perspectives of how we handle our customer data and privacy?
Customer satisfaction is a key indicator of the health of your business. Both an early warning system and a validation of your efforts. It can be a key guidepost all along the customer journey and demonstrate the impact that your marketing efforts are having on your business objectives.
Customer journey mapping or funnel optimization? They are different perspectives of the same thing. One is the the view from the customer’s perspective. One is our gated internal process. We need both in our business.
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?