- A Common Problem
- Deep Discovery
- Comprehensive Implementation
CLV for Long-term Growth
For forward-thinking companies looking at long-term returns, Empirical Path delivers the engineering, analysis, and modeling needed to calculate true Customer Lifetime Value (CLV). Customer valuation helps organizations get an accurate picture of past performance and use that information to predict future growth and optimize marketing spend.
Today’s marketers, whether due to a lack of data or a rush to implement their marketing campaigns, often focus on shorter term metrics such as return-on-investment (ROI) for singular conversions like a new purchase or subscription. This just obscures reality and promotes unnecessary marketing turf wars. Get the organization working together by getting the bigger picture.
With our proven expertise in analytics, data engineering, and statistical analysis, we help you collect and prepare the right data, analyze complex trends, and break it all down into meaningful segments that allow your team to make smarter marketing plans.
If Only It Were Easy
What makes CLV so difficult? If you’ve tried doing it yourself, you are painfully aware of all the moving parts. Each business and revenue model is different. Your customers each have unique characteristics, buying habits, and variable ongoing value for your company. We help you identify and properly track purchase frequency, average purchase value, and churn rate to determine lifetime value down to the individual customer. Tying each customer’s lifetime value to their demographic data, location data, and source data will determine your most valuable marketing segments.
Putting True CLV To Work
So, once you know your company’s Customer Lifetime Value, what can you do with that information? What marketing levers should you pull? When and where should your ads display, and who should see them? We don’t simply help you calculate CLV, we help you redefine and reinterpret your marketing metrics and KPIs to optimize customer lifetime value. With marketing mix modeling we help you determine where you should spend your marketing budget for maximum CLV and smarter long-term growth. And, we help you identify the most valuable segments to guide your bidding on auction-based marketing platforms.