tag:blogger.com,1999:blog-34368959.post194853443841216691..comments2024-03-25T04:32:02.396-04:00Comments on Customer Experience Matrix: If Lifetime Value Falls and Nobody Measures It, Has It Really Gone Down?David Raabhttp://www.blogger.com/profile/03489754392712536104noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-34368959.post-73484582644659574032007-05-16T09:06:00.000-04:002007-05-16T09:06:00.000-04:00maybe you should give LTV a fancy new name and wri...maybe you should give LTV a fancy new name and write a book about it (hey, it worked for Peppers & Rogers)Ron Shevlinhttps://www.blogger.com/profile/03329100429467977434noreply@blogger.comtag:blogger.com,1999:blog-34368959.post-86077085821699299732007-05-16T08:48:00.000-04:002007-05-16T08:48:00.000-04:00Somebody also has to feed their family. Not sure ...Somebody also has to feed their family. Not sure I can afford this missionary stuff.David Raabhttps://www.blogger.com/profile/03489754392712536104noreply@blogger.comtag:blogger.com,1999:blog-34368959.post-72913746067895842772007-05-16T08:44:00.000-04:002007-05-16T08:44:00.000-04:00David -- You nailed the reason why many firms fail...David -- <BR/><BR/>You nailed the reason why many firms fail to adopt LTV a few posts ago -- it's a religious thing. <BR/><BR/>Adopting LTV is akin to adopting a set of beliefs about the way the world works -- i.e., a religion.<BR/><BR/>And no matter how right you think you are (or actually may be), you can't convert all the heathens.<BR/><BR/>But good luck trying. Somebody has to be the missionary.Ron Shevlinhttps://www.blogger.com/profile/03329100429467977434noreply@blogger.comtag:blogger.com,1999:blog-34368959.post-45970839996824471212007-05-14T11:22:00.000-04:002007-05-14T11:22:00.000-04:00Only the best performing companies leverage LTV an...Only the best performing companies leverage LTV and make it cornerstone of customer level management. <BR/><BR/>LTV may be more visible as a management metric at companies where the disparity between low value and high value customers is extreme - but the article below hints that The Customer Experience + LTV is a better - Using the entire customer experience to extract the fullest customer potential for an individual company and its partners.<BR/><BR/>Note a recent WSJ about service, "How Posh Hotel Sizes Up its Guests", it notes service at the Peninsula, Beverly Hills,<BR/><BR/>This excerpt hits LTV dead center - and that not only Peninsula but also Van Cleef & Arpels and the luxury community get the LifeTime Value formula and use it to their competitors disadvantage - "Diana Jenkins, the wife of a British banker, was slated to receive a $200 gift certificate to Escada -- until the hotelier connected the dots. He knew she sends expensive clothes to the hotel's in-house dry cleaner, and he'd seen her mentioned in the social pages. "She's a shopper and a very fashionable lady," he ordered. "Give her Van Cleef & Arpels." Thus the lady's smart appearance upgraded her to a $1,000 spending spree at the jeweler -- proving that an investment in fashion can pay dividends."<BR/><BR/>Do you know a company that allow discretionary spending and account management at this level - giving away $200 no $1,000 to guests? Hotel rates range from $476 to $1300 a night - so obviously CFO's didn't come up with the idea of handing out $$$ - But Peninsula hires CFO's and encourages management that get LTV - Oh, and the value of an article like this in the WSJ? Ask the Peninsula's competitors - 'Priceless'MRHoffmanhttps://www.blogger.com/profile/14123452025758876017noreply@blogger.com