This episode of the Practical Perspectives series uncovers the critical concept of customer lifetime value (CLV) and how not knowing this key metric can significantly affect a financial brand's success. Discover the intricate relationship between CLV and how understanding this figure can align marketing strategies for an optimized digital experience.Gain valuable insights into the customer journey, acquisition costs, retention strategies, and the influence of engagement on long-term customer value. Uncover the significance of website secret shopping studies in identifying gaps in the buying journey and learn how organizations can harness the power of data-driven analysis to optimize marketing strategies and drive growth in the digital landscape.Join us as we discuss:-The High Cost of Not Knowing Your Customer's Value (6:45)-Exploring the Impact of Website Abandonment Rates (15:03)-Practical Steps to Uncover Financial Losses (26:18)You can find this episode and many more by subscribing to Banking on Digital Growth on Apple Podcasts, on Spotify, or here.