The Customer Lifetime Value refers to the amount of profit you make from one customer as they purchase your products and services over their lifetime. When you plan your marketing with this in mind, you’re focusing on retaining customers and upping their purchase levels.
The 5 Benefits of Customer Lifetime Value
So why should you bother to market to people you’ve already sold to? It’s always easier to gain more sales from your loyal customers, than it is to constantly throwing your precious resources at lead generation and having a high rate of customer churn. Here’s why it’s so much easier: