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)
“Diamonds may have been a girl’s best friend in an era when a woman’s only hope of having a high family income was to marry a man who was well-off, but today, marketable skills that will enable a woman to command a good income over her lifetime are a better investment.”
—Grace Baruch (20th century)