The monetary value an individual customer will bring to a company over the course of their time using/purchasing the company's services and products. Typically compared with the CAC to form the LTF:CAC ratio.
Lifetime Value, sometimes referred to as Customer Lifetime Value (CLTV). This is a crucial metric to measure and monitor. It represents the gross profit a customer is expected to generate throughout the whole time you expect them to be a customer of your business. See also - LTV:CAC ratio.
This metric measures how much value a customer will generate over their lifetime with your business compared to how much sales and marketing spend is required to attract them to be a customer in the first place. Different sectors have different benchmarks, but a minimum ratio of 3:1 is a good minimum ratio to aim for.