I work with an apparel company and we are about to start looking at improving our retention and increase our CLTV.
The problem is that we will also be acquiring new customers at the same time, so how would you recommend tracking CLTV? My initial thought is to only track CLTV against customers who have bought more than once.
You can easily track CLTV and Retention Rate using Polar Analytics. You can look at this metrics on the time period of your choice and compare them to Blended CAC and ROAS of the cohorts.
Let me know if you have any questions - there is a 14 days free trial of the tool if you want to see it.