Prospecting: Improve Customer Lifetime Value

“Although less than 40 percent of catalog companies conduct a lifetime-value analysis of their customers, it can be a powerful tool in new customer acquisition efforts,” said Steve Trollinger, senior vice president of client marketing for catalog consultancy J. Schmid& Associates at his session “Seven Ways to Increase Customer Value Today and Tomorrow” at the Annual Catalog Conference held last month in Orlando, Fla. In that session, Trollinger offered the following tips: