Ltv Essay

The heart and soul of EVO, short for evolution is they want their company to stand the test of time which means they will have to evolve with the demand. Their core values are evolution, communication, respect, credibility, invitation, balanced ambition, leadership, evoStyle (EVO, n.d.). All of their core values are key to their business plan. They want their brand to form a community and meet the needs of people and make it easier for them to do what they enjoy. Customer lifetime value is important (LTV) “LTV can help marketers from any industry determine in which customer segments to invest their retention dollars. Marketers can also use LTV calculations to take early action to try to cultivate brand engagement, which may lead to brand loyalty”

Even though one company makes bindings and boards a lot of people like to combine options. This will create the opportunity to sell customers more than one item instead of them buying only one thing. They are dealing with a wide range of people and have expanded to different types of sports. They offer products for skiing, snowboarding, wakeboarding, BMX, downhill biking, skateboarding and clothing for the whole family. Developing a relationship with a customer means that they will come back for more. If something goes wrong or they need something new they will come back to your company first. This is exactly what EVO is trying to do. They created accounts so they can better help customers return and buy the replacement parts or new products. EVO is already applying the CLV in their marketing strategy their human in charge of e-commerce talks about it in his interview (EVO video, n.d.). By gaining customers and keeping them a company can forecast what the coming year will be like. They can better understand shifts in the marketplace and recover faster. Once a company loses their customers sometimes they never come