Businesses need to install appropriate systems so every customer becomes a lifetime customer. Many businesses find that, with good service, a customer will stick with them for 7-10 years. If you assume that the lifetime value of a customer is 7 years on average, multiply the average sale by the number of times you expect to see the customer each year, and then multiply the projected annual sale by the number of years expectancy for ‘lifetime value’. This will give you an idea of what the customer’s potential worth is to your business. For more information please follow the link.
17 Sep 2013