Until a decade ago, Customer Lifetime Value (CLV) was the middle child of marketing and customer engagement. Mainly overshadowed by the eldest child (Customer Acquisition), who has always been the most trusted and the new favorite kid on the block, like the social media follower count.
Customer lifetime value predicts the amount or the revenue a customer could bring in from buying your brand's product or paying for your services for the complete duration of their relationship with you. It is a metric that'll help you gauge customer loyalty, how effective your customer acquisition is, and customer satisfaction.