Entrepreneurs can take several steps to improve LTV:
1. Enhance Customer Experience: Providing exceptional customer service can increase customer satisfaction and loyalty. 2. Regular Engagement: Use email marketing, social media, and other communication channels to keep customers engaged and informed about new products or offers. 3. Upselling and Cross-selling: Encourage customers to purchase higher-value items or complementary products. 4. Loyalty Programs: Implement loyalty programs that reward repeat customers, thereby increasing their lifetime value.