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Customers

LTV

Customer lifetime value · CLV

The profit a customer generates over their whole relationship with you.

LTV (lifetime value) is the total profit a customer produces across all their orders — not just the first. It tells you how much you can afford to spend acquiring a customer and still profit. Always base it on margin, not revenue, and check it against CAC.

Formula

LTV = Avg order value × Orders per customer × Gross margin

Example: $50 AOV × 3 orders × 50% margin = $75 LTV.

What a good result depends on

Meaningful only next to CAC — aim for an LTV:CAC around 3:1.

Common mistakes

  • Using revenue instead of margin.
  • Assuming every customer repeats — segment by cohort.
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