Driving long-term performance with customer lifetime value
By Felicia Nwosu
In an era of rapid technological disruption, brands have found ways to stay connected to their audiences through genuine human interaction. Despite the dominance of digital tools and programmatic systems, long-term value is being driven by brands that prioritise deep, meaningful relationships with consumers. These brands understand that while technology enhances reach and efficiency, the human connection fosters trust, empathy, and authenticity, which secures customer loyalty and drives sustained growth in the marketplace.
Segun Mcmedal, President of Opticom Marketing Company, highlighted the importance of Customer Lifetime Value (CLV) as a key driver of long-term business success. He stressed that building authentic connections in the digital age is crucial for brands aiming to retain loyal customers and sustain growth. He noted that while many brands focus on short-term gains, CLV emphasises the value of nurturing long-lasting relationships with customers, which leads to sustained performance over time.
The strategic communication consultant explained that the increasing reliance on digital tools and artificial intelligence can sometimes erode the human touch that customers value. He added that the brands that successfully integrate human connection into their strategies are better positioned to drive long-term performance.
“In today’s digital environment, many interactions are automated, and while technology offers convenience, it often lacks the personal touch needed to foster genuine connections. Customer Lifetime Value isn’t just about numbers; it’s about building relationships that keep customers coming back.”
Noting the challenges that brands in emerging markets face when trying to maximize CLV, the Opticom Marketing Company president pointed out that limited access to advanced technology often hinders the ability of companies to track and leverage CLV.
He affirmed that, despite these challenges, he believes focusing on human relationships is even more important in such markets, as it helps brands stand out. Despite the challenges, both experts agree that CLV is essential for long-term brand success.
The PR expert acknowledged that understanding and applying CLV is a necessity, not a luxury, for brands that want to remain competitive in the fast-evolving marketplace.
“In emerging markets, where technology may be lagging, authentic engagement with customers can be a competitive advantage. Retaining loyal customers is crucial, particularly in tough economic conditions. Brands that fail to build meaningful, lasting relationships with their customers will struggle to survive in this highly competitive environment,” he noted.
However, achieving CLV isn’t easy for every brand, Celestine Achi, CEO/MD of CIHAN Group, believes that many PR professionals and businesses struggle because they prioritize short-term metrics over relationship-building. Achi emphasized that mastering core skills, such as strategy development and effective communication, is essential for long-term success.
“PR professionals need to master creating the perfect scenario for every task, from sentiment analysis to brand monitoring, as well as honing their language skills. These are fundamental to navigating the digital space, especially in a world filled with misinformation and deep fakes,” he said.
The CIHAN Group boss further emphasised the importance of trust in today’s digital landscape, emphasizing that brands must master communication skills and strategically use data to enhance customer relationships and drive long-term performance.
“With the rise of deep fakes and misinformation, consumers are increasingly finding it difficult to differentiate what is real from what is fabricated. Brands must deliver genuine, reliable information to build trust, which is essential for long-term customer relationships. The future belongs to brands that can differentiate themselves through authentic relationships with customers.”
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