In the last two blogs written by Michelle Houston, she covered the importance of using Contribution Per Order (CPO), instead of ROAS when evaluating the performance of marketing programs. At the end of one of those blogs, she talked about the importance of also assessing and understanding the significance of lifetime value (LTV) as part of the equation. I wanted to continue that thread and take it a step further by incorporating LTV as the last step of the proper analysis into the equation. As covered in past discussions, LTV is an important metric to track as it will vary widely by acquisition source. When applied to the first order for a new customer, CPO is the equivalent to cost or profit per customer acquired. This will vary by acquisition source as well. When CPO is combined with LTV, those metrics are a powerful tool in driving your company in the right direction (or wrong direction if you’re not careful). In the analysis below, we can evaluate the total effect that CPO and LTV have on the current and future business.
Think paper isn’t sustainable? Think again!
We are super proud to be owned by a brand who believes in sustainability. MIDLAND has partnered with the World Land Trust, and their exciting Carbon Balanced Paper program. Ultimately this program helps protect endangered forests and threatened habitats. Learn more here.
Thankfully, recycling has become almost a given in the corporate world and the majority of homes. But it’s time to move into the new frontier, looking beyond recycling to tap more heavily into the other two, often overlooked R’s in the sustainability trio: reduce and reuse. These initiatives can reduce pollution and waste on the production side, while simultaneously giving consumers easier access to greener choices for their households, something that 88% of consumers reportedly want.
As every business takes a different shape depending on operations and industry, finding ways to reduce and re-use at the corporate level is a complex and highly individual challenge. But some companies have found creative ways to limit their carbon footprint and give products a second life, forging the way for other companies to follow suit. So what can we learn from them?