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When the great Gary Vaynerchuk famously asked a conservative CMO how she assessed the ROI of her mother, he wasn’t trying to be funny. He presented this question as a means of highlighting the importance of engaging customers and nurturing them.
With Vaynerchuk’s question in mind, you should rethink how you view the lifetime value (LTV) of your customers. Let’s face it, this exercise has got to be easier than calculating your mother’s ROI! Moreover, once you have obtained the LTV data on your customers, you can generate phenomenal ROI in the long term. Predictive marketing will help you achieve such success.
Research and Markets released a report on the potential of the global predictive-analytics market. The report stated that by 2025, the market would grow to $21.5 billion from its 2020 level of $7.2 billion. This rise equates to a healthy 24.5%…