LTV stands for Customer Lifetime Value: A simple explanation of what it means in marketing

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What is ltv marketing?

LTV (lifetime value) is the profit you can get from a long-term relationship with a customer
. If a customer is satisfied with a product or service and continues to purchase products or services thereafter, LTV increases.
In other words, it is important to make customers your fans.

It is not easy to turn customers into fans.
However, if you can provide products and services that meet or sweden mobile database it is easier to turn them into fans.

Try to come up with a marketing strategy that will enable you to continually attract a large number of customers with high LTV.

Why LTV (Customer Lifetime Value) is Important
ltv marketing important

There are three main reasons why LTV is important:

The rising cost of acquiring new customers and the importance of retaining existing customers
The relationship between the expansion of subscription business and LTV
How improving customer loyalty impacts LTV
The rising cost of acquiring new customers and the importance of retaining existing customers
LTV is becoming more important due to the rising cost of acquiring new customers and the increasing importance of retaining existing customers
. People's purchasing behavior changes when their living environment changes, so acquired customers often leave.
On the other hand, people tend not to change into new consumption behavior unless there is an opportunity, so acquiring new customers is not easy.
The declining population is also a factor that is accelerating the above trends year by year.

Therefore, in order to acquire new customers, it is necessary to make an enthusiastic appeal, which is becoming more costly than before.
Because it has become that much more difficult to acquire new customers, it is important to know how to retain existing customers.