What is the customer lifetime value
Customer lifetime value (or CLV, CLTV, LTV) is the total worth of a customer over the period of time of their relationship with your business. It's an important metric as it costs less to keep existing customers than it does to acquire new ones, so increasing the value of your existing customers is a great way to drive growth. You can either improve the average order value, churn rate, or customer journey to help improve your customer lifetime value. Bottom line, you want to aim for those high-value customers.