In marketing, customer lifetime value (CLV), lifetime customer value (LCV), or user lifetime value (LTV) is a prediction of the net profit attributed to the entire future relationship with a customer. The prediction model can have varying levels of sophistication and accuracy, ranging from a crude heuristic to the use of complex predictive analytics techniques.
Read more about Customer Lifetime Value: Origins, Uses and Advantages, Effects On Business Practices, Simplified Models
Famous quotes containing the words customer and/or lifetime:
“The customer is the immediate jewel of our souls. Him we flatter, him we feast, compliment, vote for, and will not contradict.”
—Ralph Waldo Emerson (1803–1882)
“During the first formative centuries of its existence, Christianity was separated from and indeed antagonistic to the state, with which it only later became involved. From the lifetime of its founder, Islam was the state, and the identity of religion and government is indelibly stamped on the memories and awareness of the faithful from their own sacred writings, history, and experience.”
—Bernard Lewis, U.S. Middle Eastern specialist. Islam and the West, ch. 8, Oxford University Press (1993)