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Mary Beth Furst
and
P.K. Kannan
Turn your digital marketing data insights into customer insights and selection techniques through the application of customer lifetime value concepts. You will learn from marketing science experts who will leverage the latest in research and proven application of customer engagement tools and strategies. Explore how to create customer value and evaluate marketing actions, identify and select customers and turn loyalty programs into long term solutions. You will also analyze customer churn and its impact and explore the latest Direct to Consumer Models and other valuation tools.
Read more
Turn your digital marketing data insights into customer insights and selection techniques through the application of customer lifetime value concepts. You will learn from marketing science experts who will leverage the latest in research and proven application of customer engagement tools and strategies. Explore how to create customer value and evaluate marketing actions, identify and select customers and turn loyalty programs into long term solutions. You will also analyze customer churn and its impact and explore the latest Direct to Consumer Models and other valuation tools.
Read more
Turn your digital marketing data insights into customer insights and selection techniques through the application of customer lifetime value concepts. You will learn from marketing science experts who will leverage the latest in research and proven application of customer engagement tools and strategies. Explore how to create customer value and evaluate marketing actions, identify and select customers and turn loyalty programs into long term solutions. You will also analyze customer churn and its impact and explore the latest Direct to Consumer Models and other valuation tools.
This online course is designed for marketing managers and analysts, customer relationship managers, and strategists in any sized organization and company.
This course is part of Maryland Smith’s Digital Marketing Professional Certificate. For more information, see here.
Register for this course and see more details by visiting:
OpenCourser.com/course/4fb62o/digital
What's inside
Learning objectives
- 4.1 customer lifetime value concepts
- 4.2 clv to firm value
- 4.3 using clv for evaluating marketing actions
- 4.4 identification/selection of customers
- 4.5 managing loyalty/churn
- 4.6 direct to consumer models
- 4.1 customer lifetime value concepts
- 4.2 clv to firm value
- 4.3 using clv for evaluating marketing actions
- 4.4 identification/selection of customers
- 4.5 managing loyalty/churn
- 4.6 direct to consumer models
Good to know
Good to know
Know what's good ,
what to watch for , and
possible dealbreakers
Develops theoretical foundations and practical applications of customer lifetime value concepts and techniques for assessing and improving marketing actions and customer relationships
Teaches the latest research and proven application of customer engagement tools and strategies, including customer selection and loyalty programs
Provides opportunities to analyze customer churn and its impact on business outcomes, empowering learners to develop strategies for mitigating churn
In-depth exploration of Direct to Consumer (DTC) business models equipping learners with valuable knowledge for understanding and navigating the evolving retail landscape
Leverages the expertise of marketing science experts, providing learners with access to the latest industry insights and best practices
Intended for a wide range of marketing professionals in various organizational settings, making its concepts and tools applicable to real-world scenarios
Save this course
Save Digital Customer Analytics to your list so you can find it easily later:
Save
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Activities
Be better prepared
before
your course. Deepen your understanding
during
and
after
it. Supplement your coursework and achieve mastery of the topics covered
in Digital Customer Analytics with these
activities:
Review algebra concepts
Show steps
By reviewing core algebraic concepts, you can better understand customer lifetime value concepts from the beginning.
Browse courses on
Algebra
Show steps
-
Review the concept of variables
-
Study exponents and logs
-
Practice solving basic algebraic equations
Review 'Customer Lifetime Value' by Venkatesan and Kumar
Show steps
Reviewing 'Customer Lifetime Value' by Venkatesan and Kumar will give learners a deep understanding of the principles behind CLV and CLTV models.
Show steps
-
Read chapters 1 and 2 to develop a strong foundation.
-
Summarize the key concepts of CLTV and its relevance in digital marketing.
-
Create a mind map connecting the key concepts of CLTV and the course materia.
Participate in a peer-led discussion on customer segmentation
Show steps
Engaging in peer discussions will allow learners to exchange insights, challenge their understanding, and develop a deeper comprehension of customer segmentation techniques.
Browse courses on
Customer Segmentation
Show steps
-
Join a peer-led discussion group focused on customer segmentation.
-
Prepare by reading the assigned materials on customer segmentation.
-
Actively participate in discussions, sharing insights and asking questions.
Eight other activities
Expand to see all activities and additional details
Show all 11 activities
Solve customer lifetime value problems
Show steps
Practice solving CLV problems to improve your understanding.
Show steps
-
Find problems related to customer lifetime value
-
Solve the problems
Practice CLTV calculations
Show steps
Practicing CLTV calculations will enhance learners' comprehension and ability to apply CLTV concepts in real-world scenarios.
Browse courses on
Customer Lifetime Value
Show steps
-
Solve the practice problems provided after section 4.2.
-
Create a spreadsheet to calculate CLTV for a hypothetical customer.
-
Compare and contrast the different methods for calculating CLTV.
Follow a tutorial on using the Customer Lifetime Value (CLTV) Framework
Show steps
Following a guided tutorial on using the CLTV Framework will provide learners with practical guidance and enhance their understanding of how to implement it in their marketing strategies.
Browse courses on
Customer Lifetime Value
Show steps
-
Search for and select a reputable online tutorial on the CLTV Framework.
-
Follow the tutorial steps to gain a hands-on understanding of the framework.
-
Apply the learned concepts to a real-world marketing scenario.
Create a customer lifetime value model
Show steps
Demonstrate your understanding of CLV by creating a model.
Show steps
-
Define the parameters of your model
-
Collect data on customer behavior
-
Analyze the data and create a model
-
Validate your model
Create a customer journey map
Show steps
Creating a customer journey map will enable learners to visualize the customer experience, identify touch points, and develop targeted marketing strategies.
Browse courses on
Customer Journey Mapping
Show steps
-
Identify the different stages of the customer journey for a specific product or service.
-
Map out the key touch points and interactions customers have at each stage.
-
Analyze the customer journey to identify opportunities for improvement.
Attend a workshop on 'Customer Lifetime Value and Its Applications in Digital Marketing'
Show steps
Attending a workshop on 'Customer Lifetime Value and Its Applications in Digital Marketing' will provide learners with practical insights and strategies for leveraging CLTV to drive marketing success.
Browse courses on
Customer Lifetime Value
Show steps
-
Research and select a reputable workshop on the topic.
-
Attend the workshop and actively participate in discussions and activities.
-
Implement the learned techniques in your own marketing initiatives.
Develop a customer loyalty program strategy
Show steps
Developing a customer loyalty program strategy will allow learners to apply their understanding of CLTV and marketing concepts to create a plan for building long-term customer relationships.
Show steps
-
Define the target audience and objectives of the loyalty program.
-
Research existing loyalty programs and best practices.
-
Design a loyalty program that aligns with the customer journey and provides value.
Participate in a marketing case competition that involves customer lifetime value optimization
Show steps
Participating in a marketing case competition will challenge learners to apply their knowledge and skills in a real-world context, fostering critical thinking and problem-solving abilities.
Browse courses on
Marketing Strategies
Show steps
-
Identify and register for a relevant marketing case competition.
-
Form a team of students with diverse backgrounds and skills.
-
Develop a comprehensive marketing plan that addresses the competition's brief.
Review algebra concepts
Show steps
By reviewing core algebraic concepts, you can better understand customer lifetime value concepts from the beginning.
Browse courses on
Algebra
Show steps
Show steps
Show steps
- Review the concept of variables
- Study exponents and logs
- Practice solving basic algebraic equations
Review 'Customer Lifetime Value' by Venkatesan and Kumar
Show steps
Reviewing 'Customer Lifetime Value' by Venkatesan and Kumar will give learners a deep understanding of the principles behind CLV and CLTV models.
Show steps
Show steps
Show steps
- Read chapters 1 and 2 to develop a strong foundation.
- Summarize the key concepts of CLTV and its relevance in digital marketing.
- Create a mind map connecting the key concepts of CLTV and the course materia.
Participate in a peer-led discussion on customer segmentation
Show steps
Engaging in peer discussions will allow learners to exchange insights, challenge their understanding, and develop a deeper comprehension of customer segmentation techniques.
Browse courses on
Customer Segmentation
Show steps
Show steps
Show steps
- Join a peer-led discussion group focused on customer segmentation.
- Prepare by reading the assigned materials on customer segmentation.
- Actively participate in discussions, sharing insights and asking questions.
Eight other activities
Expand to see all activities and additional details
Show all 11 activities
Solve customer lifetime value problems
Show steps
Practice solving CLV problems to improve your understanding.
Show steps
Show steps
Show steps
- Find problems related to customer lifetime value
- Solve the problems
Practice CLTV calculations
Show steps
Practicing CLTV calculations will enhance learners' comprehension and ability to apply CLTV concepts in real-world scenarios.
Browse courses on
Customer Lifetime Value
Show steps
Show steps
Show steps
- Solve the practice problems provided after section 4.2.
- Create a spreadsheet to calculate CLTV for a hypothetical customer.
- Compare and contrast the different methods for calculating CLTV.
Follow a tutorial on using the Customer Lifetime Value (CLTV) Framework
Show steps
Following a guided tutorial on using the CLTV Framework will provide learners with practical guidance and enhance their understanding of how to implement it in their marketing strategies.
Browse courses on
Customer Lifetime Value
Show steps
Show steps
Show steps
- Search for and select a reputable online tutorial on the CLTV Framework.
- Follow the tutorial steps to gain a hands-on understanding of the framework.
- Apply the learned concepts to a real-world marketing scenario.
Create a customer lifetime value model
Show steps
Demonstrate your understanding of CLV by creating a model.
Show steps
Show steps
Show steps
- Define the parameters of your model
- Collect data on customer behavior
- Analyze the data and create a model
- Validate your model
Create a customer journey map
Show steps
Creating a customer journey map will enable learners to visualize the customer experience, identify touch points, and develop targeted marketing strategies.
Browse courses on
Customer Journey Mapping
Show steps
Show steps
Show steps
- Identify the different stages of the customer journey for a specific product or service.
- Map out the key touch points and interactions customers have at each stage.
- Analyze the customer journey to identify opportunities for improvement.
Attend a workshop on 'Customer Lifetime Value and Its Applications in Digital Marketing'
Show steps
Attending a workshop on 'Customer Lifetime Value and Its Applications in Digital Marketing' will provide learners with practical insights and strategies for leveraging CLTV to drive marketing success.
Browse courses on
Customer Lifetime Value
Show steps
Show steps
Show steps
- Research and select a reputable workshop on the topic.
- Attend the workshop and actively participate in discussions and activities.
- Implement the learned techniques in your own marketing initiatives.
Develop a customer loyalty program strategy
Show steps
Developing a customer loyalty program strategy will allow learners to apply their understanding of CLTV and marketing concepts to create a plan for building long-term customer relationships.
Show steps
Show steps
Show steps
- Define the target audience and objectives of the loyalty program.
- Research existing loyalty programs and best practices.
- Design a loyalty program that aligns with the customer journey and provides value.
Participate in a marketing case competition that involves customer lifetime value optimization
Show steps
Participating in a marketing case competition will challenge learners to apply their knowledge and skills in a real-world context, fostering critical thinking and problem-solving abilities.
Browse courses on
Marketing Strategies
Show steps
Show steps
Show steps
- Identify and register for a relevant marketing case competition.
- Form a team of students with diverse backgrounds and skills.
- Develop a comprehensive marketing plan that addresses the competition's brief.
Career center
Learners who complete Digital Customer Analytics will develop knowledge and skills
that may be useful to these careers:
Marketing Analyst
Marketing Analyst
A Marketing Analyst is responsible for collecting, analyzing, and interpreting data to help businesses understand their customers and make better marketing decisions. They use a variety of statistical and analytical techniques to identify trends and patterns in customer behavior. The Digital Customer Analytics course can help you develop the skills you need to be successful in this role by providing you with a strong foundation in data analysis and interpretation.
Web Analytics Manager
Web Analytics Manager
A Web Analytics Manager is responsible for collecting, analyzing, and interpreting data from a company's website. They use this data to understand how users interact with the website and make recommendations for improvements. The Digital Customer Analytics course can help you develop the skills you need to be successful in this role by providing you with a strong foundation in web analytics and how to use data to drive website performance.
Data Scientist
Data Scientist
A Data Scientist is responsible for using data to solve business problems. They work with a variety of data sources and use statistical and analytical techniques to identify trends and patterns. The Digital Customer Analytics course can help you develop the skills you need to be successful in this role by providing you with a strong foundation in data science and how to use data to drive business decisions.
Digital Marketing Specialist
Digital Marketing Specialist
A Digital Marketing Specialist is responsible for planning and executing digital marketing campaigns. They use a variety of online channels to reach target audiences and promote a company's products or services. The Digital Customer Analytics course can help you develop the skills you need to be successful in this role by providing you with a deep understanding of digital marketing channels and how to use data to drive campaign performance.
Social Media Manager
Social Media Manager
A Social Media Manager is responsible for managing a company's social media presence. They work to create and publish content, engage with followers, and track results. The Digital Customer Analytics course can help you develop the skills you need to be successful in this role by providing you with a deep understanding of social media marketing and how to use data to drive engagement.
Marketing Manager
Marketing Manager
A Marketing Manager is responsible for developing and executing marketing campaigns that promote a company's products or services. They work with other departments to ensure that marketing efforts are aligned with the company's overall business goals. The Digital Customer Analytics course can help you develop the skills you need to be successful in this role by providing you with a deep understanding of customer behavior and how to use data to drive marketing decisions.
E-commerce Manager
E-commerce Manager
An E-commerce Manager is responsible for managing an online store. They work to develop and implement strategies to increase website traffic, conversion rates, and customer satisfaction. The Digital Customer Analytics course can help you develop the skills you need to be successful in this role by providing you with a deep understanding of customer behavior and how to use data to drive e-commerce decisions.
Content Marketing Manager
Content Marketing Manager
A Content Marketing Manager is responsible for planning and executing content marketing campaigns. They work to create and publish content that is valuable to target audiences and helps to achieve business goals. The Digital Customer Analytics course can help you develop the skills you need to be successful in this role by providing you with a deep understanding of content marketing and how to use data to drive content performance.
Email Marketing Manager
Email Marketing Manager
An Email Marketing Manager is responsible for planning and executing email marketing campaigns. They work to create and send emails that are targeted to specific audiences and achieve business goals. The Digital Customer Analytics course can help you develop the skills you need to be successful in this role by providing you with a deep understanding of email marketing and how to use data to drive campaign performance.
Customer Relationship Manager
Customer Relationship Manager
A Customer Relationship Manager (CRM) is responsible for building and maintaining relationships with customers. They work to understand customer needs and develop strategies to improve customer satisfaction. The Digital Customer Analytics course can help you develop the skills you need to be successful in this role by providing you with a deep understanding of customer behavior and how to use data to drive customer engagement.
Product Manager
Product Manager
A Product Manager is responsible for developing and managing a company's products. They work with a variety of stakeholders to gather requirements, design products, and launch them to market. The Digital Customer Analytics course may be useful for this role by providing you with a deep understanding of customer behavior and how to use data to drive product development.
Chief Data Officer
Chief Data Officer
A Chief Data Officer (CDO) is responsible for managing a company's data and analytics function. They work with a variety of stakeholders to develop and implement data strategies, govern data usage, and ensure data quality. The Digital Customer Analytics course may be useful for this role by providing you with a deep understanding of data management and analytics and how to use data to drive business decisions.
Chief Marketing Officer
Chief Marketing Officer
A Chief Marketing Officer (CMO) is responsible for developing and executing a company's marketing strategy. They work with a variety of stakeholders to develop and implement marketing campaigns, manage the company's brand, and drive revenue. The Digital Customer Analytics course may be useful for this role by providing you with a deep understanding of customer behavior and how to use data to drive marketing decisions.
Sales Manager
Sales Manager
A Sales Manager is responsible for leading and managing a team of sales professionals. They work to develop and implement sales strategies, motivate their team, and close deals. The Digital Customer Analytics course may be useful for this role by providing you with a deep understanding of customer behavior and how to use data to drive sales performance.
Business Analyst
Business Analyst
A Business Analyst is responsible for analyzing business processes and identifying opportunities for improvement. They work with stakeholders to gather requirements and develop solutions to business problems. The Digital Customer Analytics course may be useful for this role by providing you with a deep understanding of customer behavior and how to use data to drive business decisions.
For more career information including salaries, visit:
OpenCourser.com/course/4fb62o/digital
Reading list
We've selected six books
that we think will supplement your
learning. Use these to
develop background knowledge, enrich your coursework, and gain a
deeper understanding of the topics covered in
Digital Customer Analytics.
Save
This comprehensive reference provides detailed explanations of various marketing metrics, including CLV, customer churn, and marketing ROI. Offers valuable insights for evaluating marketing actions.
Provides a technical introduction to data science techniques used in marketing, including predictive modeling for CLV, customer churn, and loyalty. Suitable for those with a quantitative background.
Covers digital marketing analytics techniques specific to online channels. Provides insights into measuring CLV, customer engagement, and the impact of digital marketing campaigns.
A practical guide to using the R programming language for advanced analytics in marketing. Includes examples and case studies on CLV modeling, customer segmentation, and churn prediction.
Covers the fundamentals of customer relationship management (CRM), including CLV, customer segmentation, and loyalty programs. Offers practical advice on implementing CRM strategies.
Save
Provides an overview of predictive analytics techniques and their applications in marketing, including CLV prediction, customer segmentation, and churn analysis.
For more information about how these books relate to this course, visit:
OpenCourser.com/course/4fb62o/digital
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Effort
3 to 5 hours per week for 4 weeks
Level
Introductory
Via
edX
Institutions
University System of Maryland
The University of Maryland, College Park
Instructors
Mary Beth Furst
P.K. Kannan
Language
English
Transcript
English
This course belongs to a
collection
called
Digital Marketing. It's comprised of four courses:
- Fundamentals of Digital Marketing
- Digital Marketing Analytics: Tools and Techniques
- Online Advertising & Social Media
- Digital Customer Analytics (viewing)
Good to know
Develops theoretical foundations and practical applications of customer lifetime value concepts and techniques for assessing and improving marketing actions and customer relationships
Teaches the latest research and proven application of customer engagement tools and strategies, including customer selection and loyalty programs
Provides opportunities to analyze customer churn and its impact on business outcomes, empowering learners to develop strategies for mitigating churn
In-depth exploration of Direct to Consumer (DTC) business models equipping learners with valuable knowledge for understanding and navigating the evolving retail landscape
Leverages the expertise of marketing science experts, providing learners with access to the latest industry insights and best practices
Intended for a wide range of marketing professionals in various organizational settings, making its concepts and tools applicable to real-world scenarios
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