Definition
LTV is the total revenue a business expects to earn from a customer throughout the customer relationship.
Related Services
Customer relationship management (CRM), data analytics, and loyalty programs help businesses calculate and increase customer LTV.
Problem and Application
Understanding and maximizing LTV enables businesses to focus on retaining high-value customers and enhancing profitability over time.
Conclusion
LTV is a vital metric for businesses seeking to increase customer retention and profitability through targeted marketing and customer service strategies.
