How Much to Spend on Advertising (and How to Spend It Wisely)

Topics:
Budgeting,
Marketing Strategy
Tags:
Advertisement,
Bill Fryer Direct,
Sales,
Sales Strategy
Source:
Bill Fryer Direct

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Overview: The first thing a person should do when budgeting for advertising expenditure is to attempt to work out what a customer is worth, over the period of time that they remain loyal. This concept is called Customer Lifetime Value (CLV). The simplest method is to take the sales turnover, divide by the number of customers and multiply this figure by the number of years that the average customer stays.

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