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LTV Is Not a Single Number
Why one headline lifetime value misleads—and how cohort cuts keep the conversation honest.
A single LTV figure averages away the story that matters: which weeks of acquisition repaid their cost, which channels look generous until month three, and which product surfaces quietly extend or shrink value.
Treat LTV as a family of curves. Report the definition—revenue included, refunds handled, window length—beside every chart. Teams that skip the definition argue forever about a number that never meant the same thing twice.
Start with two or three cohort cuts your stakeholders already argue about. Add more only when those cuts change a real decision.