The stakes are high: Businesses thrive or die based on customer loyalty. So, customer lifetime value (CLV) is a key metric for marketers, for the C-suite, for the board. The numbers show that businesses aren’t complacent about this. Recent Fortune Business Insights revealed that the global loyalty management market is projected to explode from $6.47 billion in 2023 to $28.65 billion by 2030.

But while loyalty is the cornerstone of success, securing it comes not without its challenges. The landscape is fickle and one bad experience can destroy hard-earned loyalty: Between 2022 and 2023, 71% of customers globally switched brands at least once2 and 60% left after a negative experience.

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