Customer Lifetime Value (CLV) is best defined as “the total net profit a business can expect to generate from an individual customer over the entire period of their relationship with the company.” By estimating this figure, businesses can gain insight into how profitable their relationships with customers are and how much they should invest in acquiring new customers and retaining existing ones. CLV may vary wildly depending on the nature of the product or service being sold – but no matter what, it’s an invaluable indicator of a successful business venture.