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5 Stages of Customer Lifecycle Explained

Customer service is crucial in any business, and one thing to consider is its lifecycle. The customer lifecycle helps staff, representatives, and customers communicate comfortably. 

It is ideal to take into consideration everything that will make customers comfortable when trying to do some business or transaction with you. This way, they will come back, and you will automatically gain their loyalty. 

The customer lifecycle is expected to be highly flexible and adjustable to every customer's preference. You can not use the same barometer of metrics to judge every customer, or else you will fall into the pitfall of customer attrition. 

When your business can boast of a well-managed customer lifecycle, customer service, and experience, the business is in good condition and will gain an absolute competitive edge. Remember, this is just the tip of the iceberg when talking about customer lifecycle. This article provides you with a clear understanding of customer lifecycle, how you can manage them, and their stages. 

What is Customer Lifecycle

Generally, the customer lifecycle is in different stages or phases. In terms of customer, it is the whole journey customers go through when dealing with a company or industry. Talking about the journey, it means from the onset. 

In every business, to make the operation easy for customers and staff, it is ideal to have a laid down customer lifecycle. With this, customers automatically know what and what to do when trying to deal with your business.

The customer lifecycle is like a plan that displays the entire stage every customer must encounter in trying to do business and patronize an industry. It has to go through from the very beginning to the end. 

The customer lifecycle must contain less complex stages that every customer will understand easily. Not only should that be simple, it must also showcase opportunities for the business to be engaged effectively. Understanding and managing the stages are important as they help to retain customers.

Why Does Customer Lifecycle Matters

Customer lifecycle really does matter because it helps to monitor and handle the overall journey of customers. When a company focuses on the customer journey, it tends to understand customers' emotions and preferences, thereby leading to customer satisfaction. 

Customer Lifecycle is essential because it will help meet customers' immediate needs and improve their satisfaction. A strong relationship is built between the customer and the company. 

Also, an enhanced level of credibility and achievement is also attained when the customer lifecycle is adopted. Customer Lifecycle is actually a unique form of customer service. It is expected to be well understood by staff or representatives before implementation.

What is Customer Lifecycle Management

Management basically takes charge of things, ensuring that every process is run appropriately and almost perfectly. In this context, customer lifecycle management involves organizing, planning, and coordinating. 

Remember, the goal of the lifecycle is to get the most out of every level of the customer journey. So, customer Lifecycle Management takes charge of all customer movement from the starting point of the pre-purchase and post-purchase interaction. 

The process starts with the adoption of a customer Lifecycle and then proceeds to lifecycle management. A well-managed customer Lifecycle involves taking note of every interaction with customers, analyzing their data properly, and then improving products based on customer feedback.

5 Stages of Customer Lifecycle

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The following are the 5 stages of the customer lifecycle. 

1. Reach

This is the first stage which is otherwise called the awareness stage. It is a process of implementing a potential and professional skill, making awareness of your brand or business. You need a unique marketing strategy that can be used to reach out to clients using different channels. 

The focus in this stage is to get the attention of potential customers using all possible technology and software. You can even go as far as leveraging all social media platforms to spread the gospel of your business. This stage is important to create a lasting foundation between customers and your business.

2. Acquisition

This is another interesting stage in the customer Lifecycle. What happens here is that you will try to win over a customer so that they can become a repeat and long-term customer.

At this point, you need to make sure every business function works perfectly especially your payment gateway. You can offer first timer discount to a new customer who is reaching out to your company for the first time. 

This part marks the beginning of the customer journey, turning potential customers into regular customers. Offering discounts or promotions gives a long-lasting impression to first-time customers. It results in good feedback on social media platforms or websites and mouth-mouth referrals.

3. Conversation or Communication

The communication stage ensures customers have a nice experience dealing with your business. This is the part where your customer representative showcases their skills and professionalism. 

The conversation should not be only about the brand. It should be flexible and of any kind as long as customers are comfortable. Meaningful conversation enhances Customers and company relationships. 

When there is a good relationship, customers find it easy to access your brand. It also helps understand Customers' preferences and how exactly they feel about your company. Some may point out areas of improvement. Potential customer becomes repeat buyer when there is a smooth relationship 

4. Referral

This is the stage when customers recommend other people, engaging in mouth-to-mouth marketing for your company. For this to happen, such customers must have been satisfied with your customer service and customer experience.

The referral stage is a result of the positive and effective customer experience and service that was done in the communication stage. In essence, referral is a powerful way to attract more new customers.

5. Advocacy

In this stage, customers who are satisfied with a brand's service become advocates. They endorse the brand through referrals and reviews. This leads to gaining more customers through reviews and referrals. 

How to Manage Customer Lifecycle

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Effectively managing the customer lifecycle is a simple task. Below are a few ways how to go about it 

1. Understand Your Customers

It is highly essential to understand your customer physically and emotionally. When there is a deep understanding of customers' choices, dealing with one another becomes very easy and smooth. A lack of understanding can lead to losing customers because they will feel uneasy dealing with you.

2. Captivate And Secure them

Captivating and securing the customer is key; this can be achieved through personalized interaction and customer service. Customers can be automatically secured after successfully captivating them

3. Provide Customers With Outstanding Service

Offering exceptional customer service goes a long way. Your customer service has to be unique in order to attract customers. Ensure that your offer is totally different and one of its kind, leading to customer satisfaction and loyalty

4. Request Feedback From Your Customers 

Feedback is the best way to understand customers' true feelings and achieve that. Not only will feedback make you understand their feelings, but you will always get updates on areas of improvement. 

5. Continuous Optimization of the Entire Customer Lifecycle. 

Continuous optimization of your customer service and overall operation is how to keep the customers. Offer new things often, target new customers, and regularly restrategize to retain customers.

Customer Lifecycle Management Best Practice

Customer lifecycle management revolves around how you provide every customer with an optimal percentage of attention before, during, and after the purchase. You have to ensure all questions or problems are solved without delay. 

The goal here is to improve your business and foster its development. When there are no flaws in the customer lifecycle, then business is good to go, no matter how competitive the market can be. 

Also, customer lifecycle management practices enforce that you have a humble and professional customer service representative. The important thing here is that your customer service representative provides an immersive customer service experience that leads to long-term business gain. 

Lastly, your customer lifecycle management practices must be done consistently. If there is a need for some changes, it must be communicated to customers and noncustomers through social media platforms or websites.

How Helport Can Help Manage Your Customer Lifecycle

Helport is a platform every business must adopt, especially when you want to achieve an exceptional customer Lifecycle. Helport boasts of AI-powered tools that assist in tracking customer interaction and analyzing big data without errors. 

With Helport proprietary software, a very strong relationship is easily built between the customer and the company or brand. It is a very useful tool as it totally makes the whole thing very easy. It contains features that can help businesses gain a full understanding of customer needs. Also, Helport AI software simplifies your entire business process and allows customer service representatives to focus on other complex tasks. 

Conclusion

For a business to keep progressing, customer satisfaction comes first. Customer satisfaction includes how you take care of customer questions or inquiries, engage and interact, provide discounts, and give them exactly what they need. 

Achieving great customer satisfaction requires an effective customer lifecycle and its management. Remember, customer lifecycle and management are two distinctive aspects that rely on each other for effective functioning. 

Therefore you should always strive to optimize your customer lifecycle to fit into the perspectives of every customer needs. The most optimal way to get on top of your customer lifecycle is by getting trending information about customer needs and also getting feedback.

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Cali(Author)

Customer Lifecycle