How can I make my CLV better?

I'm curious, what are some strategies I can implement to enhance my Customer Lifetime Value (CLV)? I understand that CLV is a crucial metric in assessing the profitability of my customer relationships, and I'm eager to learn more about how I can improve it. Could you elaborate on the key factors that influence CLV and offer some actionable steps I can take to maximize its potential? Are there any specific tools or technologies that you would recommend for tracking and analyzing CLV, or are there common pitfalls I should be aware of as I strive to optimize this metric?