I recently came across a great post in Wired by Neil Capel about leveraging data to increase lifetime value. I have written many times about how lifetime value is the lifeblood of your business. A high lifetime value allows you to spend more on marketing and thus grow your business; low lifetime value makes it impossible to acquire new users. In Capel’s post, he outlines five ways you can leverage data to increase your lifetime value.
1: Use data to understand customer interests to create relevant content
Customers and players face an overwhelming amount of information and content. They are also not looking, and actively avoiding, advertising. What they want is information that is relevant to them. Customer’s interests and needs change constantly and you can tap into that inferred nature of the data to determine which elements of your content will be the most relatable and consumable to each user. Leveraging data you can determine which pieces of content an individual wants to interact with and then use that information to deliver automatically current and relevant content to that individual.
Continue reading “Lifetime Value Part 15: Five ways to use data to improve customer lifetime value”