Customer LifeTime value or just CLV: a term created by advertisers not economists.
A complete misnomer, and reveals just how self-deluding the bubble makers are. Should be ECLR, for Estimated Customer Lifetime Revenue.
Estimated, because unless your customers are already dead, you know nothing absolute about their lifetime, this is just a prediction. Revenue, not value, because this is a measure of how much revenue we hope to experience, not how much 'value' we hope to create.
CLTV is a concept created and touted by advertising companies to help convince businesses to spend massive amounts of tomorrow's money on today's ad campaigns.
Pssst. Want to be notified when the book is ready? It's written for people just like you.