Misc

Calculating the Lifetime Value of a Customer

Published

8 years ago

January 27, 2016

Jeff Desjardins

Calculating the Lifetime Value of a Customer

What is one customer worth to a business, and what should a business be willing to pay to acquire the said customer?

It all comes down to a concept called “customer lifetime value”, which is used to describe the approximate value of one customer to a business. It is essentially the average amount of money made over the lifespan of an average customer, discounted by future cash flows.

The higher the value, the higher the marketing budget can be to acquire each customer. This is not only a key concept to understand in business, but also for investors that are looking to put money in consumer-oriented companies.

Original graphic by: KISSmetrics

Politics

Charted: Trust in Government Institutions by G7 Countries

How much do you trust the government and its various institutions? We look at data for G7 countries for the time period of 2006-2023.

Published

1 day ago

April 30, 2024

Nick Routley

Trust in Government Institutions by G7 Countries

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

How much do you trust the government, and its various institutions?

It’s likely that your level of confidence probably depends on a wide range of factors, such as perceived competency, historical context, economic performance, accountability, social cohesion, and transparency.

And for these same reasons, trust levels in government institutions also change all the time, even in the world’s most developed countries: the G7.

Confidence in Government by G7 Countries (2006-2023)

This chart looks at the changes in trust in government institutions between the years 2006 and 2023, based on data from a multi-country Gallup poll.

Specifically, this dataset aggregates confidence in multiple national institutions, including the military, the judicial system, the national government, and the integrity of the electoral system.

Country	Confidence (2006)	Confidence (2023)	Change (p.p.)
Canada	57%	64%	+7
Britain	63%	63%	+0
Germany	55%	61%	+6
France	54%	60%	+6
Japan	48%	59%	+11
Italy	41%	54%	+13
United States	63%	50%	-13

What’s interesting here is that in the G7, a group of the world’s most developed economies, there is only one country bucking the general trend: the United States.

Across most G7 countries, confidence in institutions has either improved or stayed the same between 2006 and 2023. The largest percentage point (p.p.) increases occur in Italy and Japan, which saw +13 p.p. and +11 p.p. increases in trust over the time period.

In the U.S., however, confidence in government institutions has fallen by 13 p.p. over the years. What happened?

Key Figures on U.S. Trust in Institutions

In 2006, the U.S. was tied with the UK as having the highest confidence in government institutions, at 63%.

But here’s where the scores stand in 2023, across various institutions:

🇺🇸 Institutions	Confidence (2023)
Military	81%
Judiciary	42%
National Government	30%
Elections	44%
Overall	49%

Based on this data, it’s clear that the U.S. lags behind in three key indicators: confidence in the national government, confidence in the justice system, and confidence in fair elections. It ranked in last place for each indicator in the G7.

One other data point that stands out: despite leading the world in military spending, the U.S. is only the third most confident in its military in the G7. It lags behind France (86%) and the United Kingdom (83%).