eCommerce Evolution Episode 94 - The Secret To Smarter Scale: Calculating & Using Lifetime Customer Value with John Grimshaw
Oct 23, 2019
45:58
What’s the ultimate metric you should measure to grow your business? Smart direct response marketers might say Cost Per Acquisition (CPA) or Return on Ad Spend (ROAS). Advanced direct response marketers might say Lifetime Customer Value. But what does John Grimshaw say? Well, you’ll have to tune in, but I’ll give you a hint? It’s CVV.
John Grimshaw is traffic Marketing Director at Smart Marketer. He runs a consulting business called Data Centric Marketing. More importantly than any of that, he’s wicked smart.
I LOVE this episode. Here’s a quick look at what we cover:
- What is lifetime customer value (LCV)? Why it’s important and why it’s so tough to calculate.
- How should you calculate LCV and why it’s such a head-scratcher for most entrepreneurs.
- Why LCV is often a flawed or imperfect metric and why Customer Value Velocity (CVV) is a better metric for scaling your business.
- Real world example of how to use CVV to scale?
- Why you should ignore the canned Lifetime value metric in Google Analytics (but we got nothin’ but love for GA in general. Just not this metric.).
- John’s favorite tools and resources for measuring CVV.
- Plus more!