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I feel confused because I need to determine the lifetime value of our customers, but there are so many approaches. I know that the average order amount per customer is $75, number of purchases per year is 1 with the interval of three years. Approximate gross profit is 30%. How can I calculate the customer lifetime value?

Thank you very much.

The Customer Lifetime Value is the monetary value representing the average revenue generated from the relationship with the customer over a period of time.
Some may use profit—i.e., net value—in lieu of revenue to compute CLV.
In layman's words, CLV is how much a customer relationship is worth.