Ryals, LynetteKnox, Simon2011-04-212011-04-212005-01-01Lynette Ryals and Simon Knox, Measuring Risk-adjusted Customer Lifetime Value and its Impact on Relationship Marketing Strategies and Shareholder Value. European Journal of Marketing, 2005, Volume 39, Issue 5/6, pp456-4720309-0566http://dx.doi.org/10.1108/03090560510590665http://dspace.lib.cranfield.ac.uk/handle/1826/3160The calculations which underlie efforts to balance marketing spending on customer acquisition and customer retention are usually based on either single- period customer profitability or forecasts of customer lifetime value (CLTV). This paper argues instead for risk-adjusted CLTV, which is termed the economic value (EV) of a customer, as the means for marketing to assess both customer profitability and shareholder value gains.en-UKCustomersRelationship marketingShareholdersValue analysisArticle