What is customer lifetime value and how do I increase it?
Short answer
Customer lifetime value (LTV) is the total profit or revenue a customer brings over their relationship with your brand. Increase it with better first experiences, repeat-purchase reminders, cross-sells, loyalty and launches aimed at past buyers.
Knowing your LTV tells you how much you can afford to spend to acquire a customer.
Track LTV by acquisition channel and first product; some entry products lead to much better repeat behaviour.
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Answered by ScaleInbox · Reviewed by Shubham Vishwakarma, founder