What is the concept of Customer Lifetime Value (CLV) and why is it important for businesses?
Customer Lifetime Value - Concept, Calculations and Examples - Simplest Explanation Ever

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Business
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11th Grade - University
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Hard
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10 questions
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1.
OPEN ENDED QUESTION
3 mins • 1 pt
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2.
OPEN ENDED QUESTION
3 mins • 1 pt
Explain the basic formula for calculating CLV.
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3.
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3 mins • 1 pt
How can a business determine if a customer is profitable?
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4.
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3 mins • 1 pt
What are some common incentives businesses use to retain customers?
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5.
OPEN ENDED QUESTION
3 mins • 1 pt
Define Customer Acquisition Cost (CAC) and its significance in CLV calculation.
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6.
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3 mins • 1 pt
What role does gross margin play in calculating CLV?
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7.
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3 mins • 1 pt
Describe the concept of churn rate and its impact on customer lifetime.
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