Chargebacks911® COO Monica Eaton-Cardone Pens New Guest Feature for CEOWORLD
We’ve heard much over the last several years about an ongoing collapse of the retail sector. But, while brick-and-mortar sales struggle, eCommerce continues to boom. That’s not to say online retail is without its own challenges, though.
In her latest guest feature for CEOWORLD Magazine, Monica suggests that a vital part of leveraging opportunities in eCommerce is to balance cost and benefit, in the form of customer lifetime value.
CEOWORLD magazine is the world’s leading business magazine for CEOs, CFOs, high-level executive professionals, business leaders, and high net worth individuals. They’ve built their reputation through in-depth executive interviews, which profile some of the world’s foremost business leaders and CEOs. The insights, opinions, and ideas offered by these esteemed leaders motivate their audience to think differently and challenge the status quo.
As Monica explains in the post, customer lifetime value, or LTV, is “the total value of all revenue you can expect to generate from an individual customer over that person’s entire lifetime.” Many merchants make the mistake of overestimating their LTV and, as a result, end up spending far too much to capture and retain buyers.
“Operating without insight on how much you can expect to make from a single customer is like flying blind. You have no idea what’s reasonable to spend relative to what you can expect to make. It’s a vitally important indicator that no merchant should ever overlook.”