Presenting a New Model for Customer Lifetime Value Analysis and Profitability Management in the Banking Industry

In this regard, in this article, by examining and analyzing the lifetime value of customers in the banking industry, a suitable and innovative model has been presented to measure the lifetime value of customers. To achieve this goal, first by reviewing the studies available in the literature, the primary indicators were calculated and by collecting the indicators available in one of the domestic banks, their list was updated. For this purpose, a descriptive and analytical approach was used based on consensus techniques and expert opinion analysis, and primary data was collected through semi-structured interviews with banking industry experts. Then, using the Delphi method, a consensus-building process was carried out among experts to achieve an acceptable and accurate set of indicators for evaluating customer lifetime value based on multiple periods of feedback and modification. The obtained results indicate the approval of a three-part model which is based on past behavior, future behavior and customer loyalty, and for each part of the model, indicators from the literature and the bank database were determined. The designed model leads to the improvement of the information required by the bank's database to better identify and evaluate customers, and with its help, it is possible to identify indicators suitable for measuring customer loyalty and measuring the future value of bank customers. Finally, this paper provides strategies for using customer lifetime value data in profitability management and developing strategies that help improve customer experience and sustainable bank growth. This research not only provides valuable information for researchers and bank managers, but also provides a deeper understanding of the relationship between customer lifetime value and bank customer segmentation.