3 surprising facts about customer lifetime value

Customer lifetime value (CLV) is an important metric in sales that estimates the total amount of money a customer spends on products or services during their entire relationship with a retailer. It can be calculated by averaging out typical purchase amounts over the expected length of time a customer will remain loyal to a business. Focusing on improving CLV through strategies such as personalization, free returns, and AI-aided recommendations can lead to increased customer satisfaction, loyalty, and ultimately higher profits.