Customer Lifetime Value (CLV) is a metric that estimates the total value a business can expect from a single customer account throughout their business relationship. In growth hacking, focusing on increasing Customer Lifetime Value can be more cost-effective than constantly acquiring new customers.
Customer Lifetime Value (CLV) Tips:
- Enhance customer experience to boost loyalty and repeat business.
- Implement upselling and cross-selling strategies.
- Regularly engage with customers to maintain a strong relationship.