The LTV Playbook

In this episode, Alex Orley breaks down why CAC and ROAS are dangerously incomplete metrics at scale, and makes the case for customer lifetime value as the primary lens for growth decisions. He walks through how to define LTV correctly as a profit-based number, how to think about it as a payback problem, and what changes when you start allocating budget against LTV-to-CAC ratios rather than platform efficiency metrics.