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MLA
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Business & Marketing
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English (U.S.)
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Topic:

Crazy Egg-The Value Of CLV Analysis

Essay Instructions:

The same requirement to the previous paper.
Please answer 3 questions under the reading material. Answer 100 words per question, minimum of 300 words in total.
Thank you for your work again. I may have more similar papers to do.
P.S. here is the course description from the syllabus:
In this course, students learn the basics of database setup and management as well as the analytical techniques and tools used in integrated marketing to assess, enhance, and profit from customer relationship management. The course reviews database technology, organization, and planning including technology needs and outsourcing considerations; sampling techniques such as nth selects and frozen files; creating powerful predictor variables such as univariate and cross-tabulations, ratios, time-series variables, and other measures. The course also covers predicting customer actions by using multiple linear regression and logistic regression to model response, payment, attrition, churn, and other factors that assist in segmentation. Students also learn how to combine prospect and customer data residing on databases with outside sources of data to drive response models.

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Crazy Egg-The Value Of CLV
Question 1
I would recommend calculating the CLV scored every month. The scores are critical to inform the management of the health of the business. They are also used to inform the shareholders if they can expect to sustain their investment following the past few months. The scores also give a warning on the expected customer turnout in the future. As a result, a business can easily invest in innovativeness to help determine the steps and procedures that will influence the business to remain marketable and maintain its customers. The scores also inform whether the customers are satisfied with the product or service or need something more. It is an approach that can compel a business to constantly engage in research and development (R&D) to find out what to expect in the market.
Question 2
Retail 
Expected year-on-year sales- is critical to forecasting the future using the trends in the past months.
Cost of acquiring new customers- retail is destined to seek new customers every time through ads and promotions.
Cost of retaining existing customers- retailers are always modeled t...
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