You can't calculate customer lifetime value without a customer retention rate, and most companies calculate retention rate wrong, mostly because they include customers acquired during the period. Here's the formula done properly, with cohort handling, time-period conversions, and a free calculator. Plus the difference between retention, churn and attrition that even quite senior people muddle.
CFOs sign off business cases written in their language, not yours, and most customer experience proposals are written in yours. Here's how to translate a CX project into a defensible ROI number that survives the budget meeting, with worked examples for satisfaction lift, retention improvement and the bits CFOs find easiest to push back on.
Fader and Hardie's CLV models are well known in marketing academia and largely ignored in marketing practice, partly because the source papers are dense, partly because nobody distils the actionable steps. Here they are for retail and other non-contract continuous-purchase customer bases, what data you need, the assumptions to check, and how to use the results.
Charity donations, magazine subscriptions, event re-attendance, mail-order purchases, non-contract, discrete-transaction relationships are everywhere, and the standard CLV formula doesn't fit them well. Here's the Fader-Hardie model for that quadrant translated into actionable steps, with the data you need and how to use the resulting customer-value forecasts.