This paper discusses the Service-Dominant (S-D) logic of marketing within a business-to-business (B2B) context. More specifically, S-D logic is used as a lens to investigate the concept of relationship lifetime value, and to examine how value is derived from use-contexts in industrial marketing systems. We find that the S-D oriented firm should explore how it wants to act and interact in various contexts, keeping in mind the extended time-logic available for value co-creation that is part of S-D logic thinking. Further, we argue that if a firm’s industrial counterparts do not see the world of opportunity through an S-D logic lens, this does not invalidate its application, although the potential for co-creative innovation may be constrained. Therefore, an agile, relationship contingency approach is recommended. We conclude with some comments on the unifying effects that the S-D logic perspective brings to relationship marketing, in terms of how industrial firms may perceive themselves, their potential to co-create value, and their relationships within their business network.