Customer Lifetime Value (CLV): Unveiling the Golden Metric

Author : nidhi thakur | Published On : 10 Feb 2024

Imagine peering into a crystal ball, able to predict the total revenue a single customer will generate for your business throughout their entire relationship. That's the power of Customer Lifetime Value (CLV), a metric that transcends short-term transactions and unveils the true worth of your customer base. In this comprehensive guide, we'll delve deep into the world of CLV, exploring its intricacies, applications, and strategies to maximize its potential for your business. A 5% increase in retention produces a 25% increase in profit. Acquiring a new customer is between 5x and 25x more expensive than retaining an existing customer. The probability of converting an existing customer is between 60%-70%