TOPIC 4: CRM

The goal of any formal customer relationship management program is to attract and retain profitable customers with high customer lifetime value.

Can you identify a company for which you might be considered a most valuable customer, where you are in Level 1 of their customers (See Figure 2.5, Levels of Customers Based on Profitability)?

In this week's writing assignment, you will get a chance to calculate a customer lifetime value. This will be a simple calculation, but if you want more details about the calculation or perhaps use it for your writing assignment, visit https://blog.kissmetrics.com/how-to-calculate-lifetime-value/. This site will give you an example of lifetime value using Starbucks as an example. Note all the variables that go into lifetime value calculations.

Required: Record your lifetime value calculation and discuss how the company tries to retain and grow your business as a most valuable customer.