On hold for 45 minutes? Maybe you wish you’d know this the last time a company had you on hold. It might be your secret customer score. Two people call customer service at the same time to complain about the same thing. One waits a few seconds before a representative gets on the line. The other stays on hold. Why the difference? There’s a good chance it has something to do with a rating known as a customer lifetime value, or CLV. That secret number is used by all manner of companies to measure the potential financial value of their customers. Your score can determine the prices you pay, the products and ads you see and the perks you receive. Credit-card companies also use the scoring systems to decide what to offer customers who want to cancel their cards. Wireless carriers route high-value callers immediately to their most skilled agents. Everyone with a bank account, cellphone or online shopping habit has at least one CLV score, more likely several.
Note: Unlike credit scores, CLVs aren’t available to consumers and aren’t monitored by any government agency.
(Source: Wall Street Journal)