Luke, on 3:59 PM on August 14, 2014
It’s my last day interning for The DSM Group and time flew by. As I look back on my wonderful experience, there’s one overwhelming question. How the hell did I get my internship here? I mean, imagine a goofy 19-year-old kid whose voice is as deep as James Earl Jones, with long hair (or amazing flow, as I like to call it) glasses, and at times, lacking coordination. Guess what: That's me.
Luke, on 4:43 PM on July 28, 2014
Customer Acquisition Cost (the cost that comes with acquiring a new customer) aka CAC, is the number one cause of death to new startup companies across the globe. In fact, over 30% of new companies fail within the first two years because of the high cost of acquiring new customers and about 50% fail within the first five years.
Luke, on 9:48 AM on July 23, 2014
Customer Lifetime Value (the amount of profit or revenue a customer generates in their lifetime or a fiscal period) is one of the most important things your company can calculate.
But here's the problem: There is no one sure-fire way to calculate. There are hundreds of different formulas out there ranging in complexity to fit everyone's needs. Don't worry, we're here to help.
The key to CLV is calculating averages. Now, to be honest, my math skills aren't that great and if I get too technical, it will be confusing. So here's a few examples that are simple, easy and most importantly, logical. Also if you could not tell my calculus teacher about my math skills, that would be great too!