Definition:
Customer Lifetime Value (LTV) is the total revenue a business can expect from a single customer over the entire duration of their relationship.

Explanation:
LTV helps businesses understand how much they can invest in acquiring and retaining customers while remaining profitable. A strong brand and customer experience typically increase LTV over time.

Example:
If a client spends $2,000 per year and stays for 5 years, their LTV is $10,000.