Customer Lifetime Value (CLV) is a calculated prediction of how much revenue a business could generate from a loyal customer; measuring average revenue and profit from customers. This can be a very effective method of assessing whether marketing strategies, particularly lead nurturing and increasing share of wallet, are working well.
When evaluating the CLV, you can dig deeper by segmenting your customer base and investigating each one to gain more accurate insights. This allows you to ensure you’re targeting each set of customers with the most effective marketing content to optimise the Customer Lifetime Value.