Posted in Marketing and Strategy Terms, Total Reads: 1217
Definition: Customer Lifetime
Customer lifetime is the approximate time for which the customer is expected to be associated with our firm/ brand. This is based various factors like customer satisfaction level, the competitive scenario, the economic environment in future etc. A firm can work on increasing the customer’s lifetime by concentrating on customer relationship management and by ensuring happy customers. A higher lifetime is one factor that can lead to a higher lifetime value of a customer.