Businesses are always looking for ways to drive higher customer lifetime value (CLV), which measures the present value of projected future cash flows from the customer relationship. Strategies to increase CLV in the rental operation parallel the five phases of gold mining. From prospecting to digging to processing to extraction to concentrating, rental operations can uncover hidden CLV in much the same way that the mining industry produces gold.
Isaac Ristich discusses the five phases of gold mining and how they apply to increasing CLV for rental operations.
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