Lifetime Value Analysis Is Helpful Only When It Is Used

question 85

True/False

Lifetime value analysis is helpful only when it is used on current customers.

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Definitions:

Prospect

A potential customer who has shown interest in a product or service and may be targeted for a sales pitch or follow-up.

New Prospects

Potential clients or customers who have been identified as likely to be interested in a product or service.

Replace Customers

The practice of finding new customers to compensate for those who no longer do business with a company, maintaining or growing the customer base.

Orphaned

In a business context, refers to accounts, clients, or projects that no longer have a specific person or team assigned to manage them.