How to Leverage Your #marketing Budget to Increase Your LTV
▻https://hackernoon.com/how-to-leverage-your-marketing-budget-to-increase-your-ltv-99e89c82db1?s
Photo by Oleg Laptev on UnsplashWhen it comes to marketing, you might think that spending less — whether overall or per customer — is the best way to go for your company. After all, you’ve got a business to run and a budget to maintain. Right?It might not be as cut and dried as you’d think…keep reading to find out how you can use #data to strategically choose where and how to reinvest in marketing and get better results.In short: spending more can get disproportionate results…when you do it rightIn another post, I talked about a scenario where a hypothetical business reduced churn by 1.5% using strategies to decrease involuntary churn. In that example, reducing churn by 1.5% resulted in a 43% jump in the customer lifetime value (LTV) — from $780 to $1114.Now, let’s add a few more hypotheticals to (...)