Customer Lifetime-Value Equation
Why Measure LTV?
LTV evaluates the effectiveness of your marketing activities. Customer value will be different for those responding to catalogs, space ads and package inserts. Customers acquired through rental lists can vary by the type of list source: catalog, subscription, or compiled or specific list segment. In addition, catalog lists vary by season and promotions offered. And customers within those sources will vary by products purchased, whether they’re business or residential buyers, and by gender, age or other demographic.
- Companies:
- Lett Direct Inc.
Steve Lett graduated from Indiana University in 1970 and immediately began his 50-year career in Direct Marketing; mainly catalogs.
Steve spent the first 25 years of his career in executive level positions at both consumer and business-to-business companies. The next 25 years have been with Lett Direct, Inc., the company Steve founded in early 1995. Lett Direct, Inc., is a catalog and internet consulting firm specializing in circulation planning, plan execution, analysis and digital marketing (Google Premier Partner).
Steve has served on the Ethics Committee of the Direct Marketing Association (DMA) and on a number of company boards, both public and private. He served on the Board of the ACMA.  He has been the subject of two Harvard Business School case studies. He is the author of a book, Strategic Catalog Marketing. Steve is a past Chairman of both the Catalog Council and Business Mail Council of the DMA. He spent a few years teaching Direct Marketing at Indiana University in Bloomington, Indiana.
You can contact Steve at stevelett@lettdirect.com.
