How Valuable Are Your Customers? An Interactive Illustration

What is a customer worth to a business? You can find out through a measure called customer lifetime value: The amount of profit a customer is likely to generate for the company over the duration of the customer-company relationship. According to a post on Harvard Business Review‘s blog, knowing CLV allows business managers to more effectively focus market strategies and customer retention efforts.

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Ellie Rizzo

HBR’s website offers an interactive display for calculating CLV, using average number of annual purchases, average gross margin, direct marketing costs, discount rate, average spend per purchase, acquisition response rate and customer retention rate. Access the tool here.

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At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.

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Is ambulatory care healthcare’s big margin engine? 4 leaders weigh in

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Presenters: Joe Ganley, athenahealthJeffrey Flynn, CASC, Gramercy Surgery CenterBryan Tsao, Access Center, Loma Linda University HealthJason Zepeda, Northridge Hospital Medical Center, CommonSpirit HealthGreg DeConciliis, PA-C, CASC, Boston Out­Patient Surgical Suites

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