What shoppers are worth for the long term

Retailers, wireless carriers and others crunch data to determine what shoppers are worth for the long term—and how well to treat them.
Two people call customer service at the same time to complain about the same thing. One waits a few seconds before a representative gets on the line. The other stays on hold. Why the difference?
There’s a good chance it has something to do with a rating known as a customer lifetime value, or CLV. That secret number is used by all manner of companies to measure the potential financial value of their customers. Read more…