What is a Customer Lifetime Value (CLV)?
The Customer Lifetime Value is the total amount a customer will spend on your product during their time of being a paying customer.
It is a good measure of the relationship between customers and the company, showing whether they trust and return to your products rather than buying from you once, or on a rare occasion. This can be encouraged by building brand loyalty, with the help of great customer care, a strong brand presence, or even loyalty programs.
