Is it time to finally admit that not all customers are created equal—and that treating them as if they are might be costing your business more than you realize?

In this episode, I dig deep with Dan McCarthy, Associate Professor of Marketing at the University of Maryland and co-founder of Theta, to challenge one of the most hotly debated questions in customer experience: Should all customers be treated the same? Dan's expertise in customer lifetime value (CLV) exposes a stark reality—most companies are bleeding money on large swaths of their customer base and missing out on major growth opportunities by not prioritizing their highest value customers. The impact of understanding, modeling, and acting on CLV? Smarter resource allocation, optimized acquisition channels, and retention strategies that actually move the needle.

Why should you listen to Dan? His work—frequently featured in The Wall Street Journal, Harvard Business Review, Fortune, and The Economist—sits at the intersection of advanced academic research and bottom-line business outcomes. Having sold a business to Nike and now a partner at Theta, Dan brings a rare combination of rigorous analytics and practical execution, helping both corporate leaders and investors see their customers (and their value) more clearly. If you want your business to thrive—not just survive—in a customer-driven market, this episode is essential listening.

Here are three burning questions Dan answers during our conversation:

• How do you accurately calculate customer lifetime value, and why do so many businesses get it wrong?

• What are the most common missteps that leaders make when trying to identify and serve high-value customers?

• How can customer data be used to shift business strategy, improve profitability, and even recalibrate entire corporate valuations?

Be sure to tune in and subscribe on your platform of choice:

• Listen & Subscribe on Apple Podcasts

• Listen & Subscribe on Spotify And remember, The Delighted Customers Podcast is available on all your favorite podcast platforms!

Meet Dan McCarthy

Dan McCarthy is an Associate Professor of Marketing at the University of Maryland's Robert H. Smith School of Business, and a co-founder of Theta, a leading business focused on customer lifetime value prediction and insights. Previously, Dan taught at Emory University's Goizueta Business School for seven years before moving to Maryland (my alma mater—Go Terps!).

Dan's innovative research and commentary on customer lifetime value, corporate valuation, and unit economics have attracted national attention, appearing in media outlets such as Harvard Business Review, The Wall Street Journal, Fortune, Barron's, CBS, CNBC, and The Economist. He is also nationally recognized for his work partnering with Dr. Peter Fader, with whom he initially founded a business acquired by Nike before their current collaboration at Theta.

Before his academic career, Dan earned both his undergraduate and PhD degrees from the Wharton School at the University of Pennsylvania. He spent several years on Wall Street at a hedge fund, bringing a financial and data-driven lens to marketing science. As a frequent speaker and consultant, Dan helps enterprise leaders, marketers, and investors leverage advanced modeling to answer high-stakes questions about profitability, resource allocation, and growth.

To connect with Dan, reach out on LinkedIn.

References and Show Notes

• Learn more about Theta

• Connect with Dan McCarthy: LinkedIn

• Past podcast guests mentioned: Fred Reichheld (on CX metrics), Dr. Peter Fader (Wharton School, on not treating all customers the same)

• Read Dan's and Peter Fader's research: Customer-Base Corporate Valuation

• Warby Parker (example discussed: CLV, growth, and valuation)

• Media coverage: Harvard Business Review, Wall Street Journal, Fortune, The Economist, USA Today, Barron's

• Delta Sky Club (loyalty programs and customer value example)

Ready to rethink your approach to customers? Hit play and subscribe now!