Using customer lifetime value segmentation
Using Customer Lifetime Value
Customer Lifetime Value is a great way to manage your audience and understand where the value is really being created in your business (and by whom).
Using this segmentation you can create key milestones based on the amount a customer has spent with you.
It's a powerful tool and a great way to build customer loyalty (loyalty programmes issue points to manage this type of thing).
Create your CLV segment
Select Segment from the Menu
Hit the [+ new segment] button in the top right corner of the screen.
Select LifetimeValue from the dropdown segment type list
Click the 'Create Segment' button and that will bring you into the Customer Lifetime Value segment screen.
You are then presented with the following options.
1. NAME YOUR CLV SEGMENT
Give your Customer Lifetime Value (CLV) segment a name.
TIP - use a name you and your peers can easily understand for your segment, for example - "people with customer lifetime value above 2000"
2. SELECT YOUR CRITERIA
Select your customer lifetime value level = people that are above / below / equal to a specific amount of spend.
3. HIT THE CREATE BUTTON
Boom! You've just created a new segment to help you manage your audience.
From that day forth (until you decide otherwise), your customers will be segmented accordingly.
What's next? Here are some options.
You could simply monitor this segment (keep an eye on the growth or shrinkage).
You could combine this segment with another segment and create a 'super-powered segment'.
You could use this segment to send a one off marketing message,
Or, you could use this segment power some marketing automation.