Customer lifetime value (LTV) is an important metric to determine the revenue you can expect to make from a customer over the length of the customer's entire relationship with your brand. Calculating LTV can help you understand who your most valuable customers are, so you can prioritize keeping them. The more business they bring, and the longer they stay loyal to your brand, the more you can increase LTV.

A customer is more than just a single sale. Turning a one-time shopper into a return buyer and boosting the value of each transaction is all part of increasing LTV-and it's great for your bottom line. The key to making that happen is identifying your most valuable customers and ensuring you provide them with the best possible customer experience, to keep them coming back and spending more for a long, long time.