LTV vs MVP
LTV (Lifetime Value) and MVP (Minimum Viable Product) both come up in business conversations and get confused. Here's the plain-English difference, side by side, so you can use each one with confidence.
The key difference: LTV refers to lifetime value, while MVP refers to minimum viable product — they describe different things even when they show up in the same sentence.
LTV — Lifetime Value
The total revenue a business expects from a customer throughout their entire relationship.
MVP — Minimum Viable Product
A development technique where a new product is built with core features to satisfy early adopters and validate business ideas.
When to use LTV
Reach for "LTV" when the conversation is specifically about lifetime value. The total revenue a business expects from a customer throughout their entire relationship.
When to use MVP
Reach for "MVP" when the conversation is specifically about minimum viable product. A development technique where a new product is built with core features to satisfy early adopters and validate business ideas.
FAQs
What is the difference between LTV and MVP?
LTV stands for Lifetime Value — The total revenue a business expects from a customer throughout their entire relationship. MVP stands for Minimum Viable Product — A development technique where a new product is built with core features to satisfy early adopters and validate business ideas.
Are LTV and MVP the same thing?
No. They're often used in the same conversation because they're related, but they describe different concepts. LTV = Lifetime Value. MVP = Minimum Viable Product.
When should I use LTV vs MVP?
Use LTV when you're specifically referring to lifetime value. Use MVP when the topic is minimum viable product.