How to Estimate Your LTV Lifetime Value

LTV lifetime value is a lagging indicator, right? It takes a while to figure out either you're projecting it based on averages or you have to wait and see. So this is backwards looking out lifetime value sort of, oh, three years ago we acquired a customer using this channel and they're still with us. So then the lifetime value is how do you get there? Yeah, it's a starting point. I mean, we use the previous year LTV to kind of start this exercise. But I think that it's the starting point to get us to a place that's a bit more precise in terms of how to allocate budget, right?