Marketing School | Digital Marketing | Online Marketing

In Episode #382, Eric and Neil discuss how to determine customer lifetime value. Tune in to learn the simplest formula you can use to calculate your customer lifetime value. Eric and Neil also drop several online tools that simplify the process and will do the math for you. Time Stamped Show Notes: 00:27 – Today’s topic: How to Determine Customer Lifetime Value 00:38 – There are multiple ways to determine customer lifetime value 00:52 – Eric shares an example of a SaaS company’s customer lifetime value 00:55 – Neil’s Crazy Egg has a churn of 10%, which is the number of customers who stopped using the product 01:08 – Average price per user ID is $30, so you divide $30 by the churn to get the lifetime value 01:40 – Technically you take the average pay per month 02:00 – Mixpanel can calculate your customer lifetime value 02:10 – RJMetrics can do it for you, too 02:21 – There’s a formula on Kissmetrics that you can copy to calculate the customer lifetime value 02:31 – Eric has tried different formu