Peter Fader: Ignore Customer Data at Your Peril - It's the Secret Sauce for Growth

A CMO Confidential Interview with Dr. Peter Fader, Professor of Marketing at the Wharton School of Business. Dr. Fader discusses why customer lifetime value (CLTV) is such an important predictor of future financial performance, why some leaders resist the CLTV approach , and his belief that companies often think they have more control and influence over consumers than they really do. Key topics include: how to get started on CLTV; how to understand non-contractual businesses like retail and consumer goods; why win-back strategies aren't as effective as they appear; and why he doesn't like "humanizing marketing." Tune in to hear how CLTV has strong parallels to actuarial science. 00:00 Welcome to CMO Confidential: Inside the World of Chief Marketing Officers00:40 The Power of Customer Data: A Conversation with Dr. Peter Fader01:36 The Evolution of Marketing: Embracing Customer Centricity02:39 Decoding Customer Lifetime Value and Predictive Models04:58 Challenges and Solutions in Applying Predictive Models24:04 The Future of Marketing: Data, Predictions, and Customer Focus30:37 Closing Thoughts and Practical Advice for Marketers#customerdata #marketing #customerlifetimevalueSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.