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What is Customer Lifetime Value (CLV)? Definition and Guide
What is Customer Lifetime Value (CLV)?
Customer lifetime value (CLV) is the total amount of money a customer is expected to spend in your business, or on your products, during their lifetime. This is an important figure to know because it helps you make decisions about how much money to invest in acquiring new customers and retaining existing ones.
For example, the CLV of a Honda owner might be as much as $100,000 if they are happy with their car or minivan choice and end up buying several...
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