Not all customers are created equal. The best subscription businesses know the power of customer lifetime value (CLV). They optimize around understanding who their best subscribers are, and then deepening the relationship with those best subscribers over time. Neil Hoyne is an expert at this. As the Chief Measurement Strategist at Google, as well as a Senior Fellow at The Wharton School, Neil helps people use data to win their customer’s hearts. He’s written a new book Converted: The Data Driven Way to Win Customers’ Hearts on this topic, which I read on the beach while on vacation. It’s a book about data that’s entertaining and engaging enough to read on holiday, if you can believe it. We recently spoke about how to measure the full value of each relationship, engage in an ongoing conversation with your best subscribers, and perhaps most importantly, how to find and win new subscribers just like the ones you find most valuable.
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