德勤-2021年消费者经济报告（英文）-2021.5-28页_1mb

Customer Economics Summary

Core Content

This report, authored by the CMO Council in collaboration with Deloitte Consulting LLP, explores the concept of Customer Lifetime Value (LTV) as a strategic tool for brands to understand and optimize their long-term relationships with customers. LTV is defined as the predicted revenue a customer will generate over the course of their relationship with a brand, and it plays a critical role in driving revenue, retention, and returns.

The report emphasizes that LTV is not a one-size-fits-all metric but rather a dynamic and evolving measure that requires a comprehensive approach, integrating customer segmentation, psychographics, retention costs, churn rates, and other factors. It highlights the importance of aligning the entire organization around LTV to ensure its success and impact.

Main Points

• LTV is essential for strategic decision-making and spans across marketing, sales, finance, and customer experience teams.
• Only 17% of marketers track LTV well, with most rating their CAC to LTV ratio as average or below.
• Segmentation and targeting are key to unlocking LTV potential, yet 84% of marketers are only moderately effective or worse at this.
• Repeat sales are a more reliable indicator of LTV than new sales, and marketers must shift their focus from acquisition to retention.
• Data is critical for improving LTV, but challenges persist in aggregating and interpreting it effectively.
• Customer engagement metrics such as revenue per user, transactions per user, and session duration are commonly used, but they do not provide the full picture of LTV.
• There is no clear ownership of LTV within organizations, with CMOs, CROs, and other leaders all playing a role.

Key Insights

• Customer value creation is the primary reason marketers are focusing on LTV.
• Customer relationships are long-term and require sustained investment and commitment.
• Marketers are not the only ones leveraging LTV to drive strategic decisions; it's a cross-functional initiative.
• The customer journey is central to LTV, and understanding it is crucial for delivering value and improving retention.
• Marketers need to move beyond traditional metrics like NPS and focus on actionable insights that guide improvements in customer experience.

Challenges in Measuring LTV

• Measurement is complex and inconsistent, with no standard formula across industries.
• Data collection and analysis are major hurdles, with 60% of marketers citing inconsistencies in data depth and granularity.
• Emerging channels like chatbots and the Internet of Things (IoT) are not yet effective in capturing customer signals.
• Most effective signals are found through customer service and support interactions, which are often underutilized.

Strategies for Improving LTV

• Coordinate across departments to gather and analyze data that impacts LTV.
• Analyze first-party and partner data to identify high-value customer segments.
• Focus on personalized experiences that align with customer needs and values.
• Invest in technology that supports real-time feedback and customer engagement.
• Emphasize long-term relationships over short-term gains, building loyalty and advocacy.

Future Plans of Marketers

• 62% of marketers plan to develop a unified view of the customer.
• 40% aim to create lasting connections with customers.
• 38% are looking to enhance dynamic customer-brand experiences.

Expert Commentary

• Tim Greulich, Managing Director at Deloitte Consulting LLP, notes that LTV is a continuation of pre-pandemic trends, now accelerated by digital innovation.
• He recommends focusing on Operationalized Human Experience (OpHX), which involves:
  • Reimagining enterprise-wide strategies to humanize operations.
  • Empowering employees to create value-driven experiences.
  • Leveraging customer data effectively with proper governance.
  • Investing in harmonious technology that meets customers where they are and predicts their needs.

Executive Perspectives

• Brett Townsend, Head of North America Insights at Electrolux, emphasizes that LTV is about nurturing relationships rather than just maximizing revenue.
• Ash Parikh, Senior Vice President and Head of Marketing at Informatica, highlights the importance of conversational engagement and ongoing value in the post-pandemic world.
• He believes that LTV is now more about building partnerships than just transactions, and that customer retention and loyalty are more valuable than acquisition.

Conclusion

• LTV is a strategic and economic metric that requires cross-functional collaboration and continuous refinement.
• It is not a quick fix but a long-term commitment to understanding and improving customer relationships.
• The payoff for companies that effectively implement LTV can be significant, including better revenue growth, improved retention, and stronger brand loyalty.
• Marketers must convince the C-suite of the value of LTV and align the entire organization around its goals.