It is an important metric that shows the net profit given by the whole future relationship between a business and customer.
It is important to use it because it encourages businesses to focus on the long term well being of their customers rather than on quarterly profits.
It is also useful due to the fact that it costs less to keep an existing client than it does to acquire a new one that is why focusing and increasing the value of existing customers is an excellent way to grow your business.
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