Add Lifetime Customer Value to Ad Tracker
“Lifetime Customer Value” (LCV) is the most important metric in direct marketing.
It is absolutely critical to know how much, on average (including upsells and recurring orders), a customer spends with you over time, for each traffic source.
Knowing this allows the marketer to accurately calculate how much money to spend on adverting.
I suggest adding a field to the Ad Trackers called “LCV.” This field would display the average amount of money each customer spends from that traffic source. This is simply the sum of orders, upsells, and recurring revenue from that source, divided by the number of customer from that source. There are more complicated formulas to calculate LCV, but this would be sufficient.
Many of the largest direct marketers in the world (Agora Publishing and Guthy-Renker for example) use this metric almost exclusively to build their business.
This is a fundamental marketing metric, and should be a top priority for 1SC.
Please vote for this idea!
Profits: I can tell you that you will have the ability to perform those kinds of searches very soon. Check out this thread for more information:
PowerLines Motivation LLC commented
This feature would be a no brainer for any business that wants an easy way to keep serving and rewarding their customers in addition to the easily getting the metrics needed for overall business strategy.
This is such an essential business metric I'm really surprised it hasn't already been added.
Profits Run Inc. commented
I have to agree with this, and this is something I asked for at least 2 or 3 years ago. Not only LCV, but there should be a search feature so we can filter customers by total spend. For example, I'd like to send everyone who has spent over $5,000 with me a special gift. How can I do that now? Not very easily. Thanks.
Attraction Methods commented
This is a great idea. I've been wanting 1shoppingcart to do this for a while. How does a company directly involved in marketing miss this fundamental measurement? I'd love this feature. 1shoppingcart is already the best bang for buck, this would seal the deal.