Definition
The total worth of a customer to a business over the entire period of their relationship, measured by the revenue they generate.
Why it matters (in Poovi’s context)
Highlights the strategic importance of retaining and growing existing customer relationships rather than solely focusing on new customer acquisition.
Key properties or components
- Revenue generation over time
- Retention strategies
- Upselling and cross-selling
- Profitability maximization
Contradictions or debates
None.