Customer Lifetime Value Strategies in B2B | Michael Migliore (News UK, TMAC)
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Show Notes
Michael Migliore is a Lifetime Value (LTV) expert and was Head of Customer Value at News UK, CMO of The Modular Analytics Company (TMAC) and has worked with a number of other organisations on their LTV and growth strategies.
In today's episode:
• How Marketing and Product teams can work better together
• Fundamentals of an LTV strategy in B2B products
• How to approach pricing of a B2B product
• Ways to reduce churn and where it is positioned in LTV strategies
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Michael's contact info:
• LinkedIn: https://www.linkedin.com/in/michael-migliore-75966636/
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Where to find the host, Adam Wakeling:
• Twitter: https://twitter.com/adamjwakeling
• LinkedIn: https://www.linkedin.com/in/adam-wakeling-26494b35/
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In this episode, we cover:
(00:00) Podcast Introduction
(01:34) Definition of a great product
(02:44) The Product and Marketing relationship
(07:04) Lifetime Value framework
(11:00) How to approach a SWOT analysis
(16:04) Pricing and price sensitive
(18:20) LTV timeframes - what is a lifetime?
(20:12) The dark art of pricing
(23:10) The right discounting approach
(27:37) Additional pricing tactics
(30:54) Marketing input into product feature development
(35:00) Marketing and product 'buddies' in a company
(35:50) Churn and LTV
(39:30) Execution tactics in tackling churn
(43:13) What metrics to track in LTV
(47:00) Application of AI in LTV
(48:45) Creative pursuits outside work
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