4.3 Economics of attracting and retaining customers

Teacher

Category

$50

So, you have identified your target audience, you know their preferences, and you are ready to start drawing up a marketing and promotion plan. But how much money is worth spending on attracting customers? What marketing budget would be reasonable?

This section provides an answer to this question. The calculation of the profit resulting from sales to a specific client over his or her entire lifetime, or - the Life Time Value (LTV) of a client, is an indicator that determines the reasonable scope of a budget dedicated to customer acquisition and retention.

Expected outcome:

You will learn the concept of the customer Live Time Value
You will learn how to calculate LTV
You will learn about demand forecasting techniques.
In a practical assignment, you will calculate three LTV options for your project and determine the scope of your budget for customer acquisition.

In order to watch lectures and get access to the practical part, you need to purchase the course

Course Features

Lectures 4
Quizzes 2
Duration 7 days
Level all levels
Language Russian, English
Students 22
Assessments Yes

Marina Tyshchenko

Founder of Startup Navigator. Marina has held various management positions in international US and European companies, including Hewlett Packard, Oracle, Philips Lighting. She has experience in leadership during periods of acquisitions, mergers and divisions of companies. She founded the Aquamarine Book publishing house. As a publisher, she translated into Russian and released a number of bestsellers in the field of business, high technology and psychology in the period 2008-2011, including “What would Google do”, “Being a boss is normal”, “All about distribution”, “Health of a business leader. How to get to the top and stay there”, “Adventures of an IT leader”, “Management myths”, “Dot.Cloud: cloud computing – a business platform of the 21st century” Has a PhD in Economics