American Museum Membership Conference - May 2020

Moved from in-person session to live webinar due to Covid-19

Abstract

In this session I introduce participants to customer lifetime value (LTV) as a metric, including what it is, how to calculate it, and how to use it. I start with a description of its benefits and limitations. We then calculate LTV using example data. I then discuss how to use this metric, particularly in acquisition efforts. I will end with a discussion of how to adapt for mission-driven organizations.

Key takeaways:

  • Understanding of LTV and its benefits and limitations
  • Basic idea of how to calculate LTV using organization’s data
  • Understanding of how to use LTV, particularly in acquisition efforts