Customer Lifetime Value (LTV)

A measurement of how much a customer is worth over the entire span that a customer engages with a brand or company. While many CMOs would love to properly account for LTV, that is complicated by the fact that a given CMO’s relationship with a brand lasts far less time than any given consumer’s.

It’s the ultimate "how much are we really talking here?" metric. Lifetime Value is like a crystal ball that tries to predict how much a customer will spend on your business during their entire relationship with you. It's the love story between a customer and a brand, narrated in the romantic language of commerce.

If customers were ships, LTV would be the treasure they're carrying. And just like a pirate, your job as a marketer is to maximize that treasure. But remember, customers aren't ships, they're people. And while people might not like being compared to ships, they do appreciate a good customer experience.

So don't just focus on extracting value from your customers. Focus on delivering value to them. Because the best way to increase the LTV is to increase the "LV" - the love.