Customer Lifetime Value (CLV) in the Automotive E-commerce Space

Author(s)	Divya Chockalingam
Country	United States
Abstract	Customer Lifetime Value (CLV) represents the total worth a customer brings to a business over their entire relationship. As e-commerce continues to disrupt industries, automotive companies are embracing digital platforms for vehicle sales and services, which presents new opportunities and challenges in measuring and optimizing CLV. This paper explores how automotive e-commerce businesses can leverage CLV to enhance customer retention, optimize marketing spend, and drive long-term profitability. It delves into strategies for calculating CLV in the context of the automotive industry, the role of data analytics in its application, and the technological tools that help businesses unlock the full potential of CLV. The findings underscore the importance of shifting from traditional sales-focused metrics to long-term customer-centric models in an increasingly digital landscape.
Field	Business Administration
Published In	Volume 5, Issue 1, January-February 2023
Published On	2023-02-03
DOI	https://doi.org/10.36948/ijfmr.2023.v05i01.40690

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International Journal For Multidisciplinary Research