What is 'contact revenue' in SAP CEC-MKT-LOY - SAP Loyalty Marketing?

contact revenue - Overview

• Component: CEC-MKT-LOY

• Component Name: SAP Loyalty Marketing

• Description: The total revenue a contact has generated for any loyalty program.

contact revenue - Details

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  Key Concepts: 
  Contact revenue is a term used in SAP Loyalty Marketing to refer to the total amount of revenue generated from a customer’s interactions with a company. This includes any purchases, discounts, or other transactions that the customer has made with the company.
  
  How to use it: 
  In SAP Loyalty Marketing, contact revenue is used to measure the success of a customer’s interactions with a company. It can be used to track customer loyalty and identify areas where the company can improve its services.
  
  Tips & Tricks: 
  When tracking contact revenue, it is important to consider all types of transactions that a customer has made with the company. This includes purchases, discounts, and other transactions that may not be immediately obvious.
  
  Related Information: 
  Contact revenue is closely related to customer lifetime value (CLV), which is a measure of how much money a customer is expected to spend over their lifetime with a company. CLV can be used to identify customers who are likely to be more profitable in the long run.