What is Client Lifetime Value and why is it important for a law firm?

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Client lifetime value (CLV) is the profitability of your law firm’s relationship with the client throughout the lifetime of their work with the firm.

Measuring client lifetime value gives you a number that represents the present value of the future profit dollars attributed to the average client relationship.

We use client lifetime value as a marketing metric to determine how much to invest in acquiring and maintain client relationships.