Work smarter, not harder, by making small but significant shifts in the way you do business. Simple adjustments, clearheaded analysis and two minutes here and there may be all it takes to boost your bottom line.

The lifetime value of a customer is measured by the value a customer brings to your business throughout that customer's entire relationship with you. It's the monetary value your customers bring to your business over a period of time.

How much your leads are worth? How long do your customers remain customers? Do they buy from you once, then move on? Or do they typically buy two times, three times, four times?

Attracting new customers costs more than retaining customers or bringing a past customer back into your lifecycle. So once you have your customers, you can't afford to let them leave without doing everything in your power to increase their lifetime with you.