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Stages of customer life cycle management: Reach – Your content must be properly marketed in places where people/businesses in your market will find your information. This way they will become aware of your company’s existence.
Stage 5: Product and Support Experience Attracting a new customer is six to seven times more expensive than keeping an existing one. With that calculation in mind, it’s easy to understand why some say that the customer lifecycle doesn’t truly begin until Stage 5.
There are six steps in that relationship; that is, the customer lifecycle: discovery, evaluation, purchase, use/experience, bond, and advocacy. Almost any company with a reasonably incentivized sales team can get through the first three or four parts of the lifecycle. The Customer Life Cycle is a concept you often hear about in business school or business books. Basically it follows five stages through the life of a customer: Reach; Acquisition; Conversion; Retention; Loyalty/Advocacy; By successfully guiding customers through these 5 stages you will end up with enthusiastic advocates of your brand.
The onboarding stage of the customer lifecycle comes right after the transaction and ends once the customer is able to get to first value. This is an important time to build a strong relationship with the customer, provide necessary training, and manage any necessary technical integrations. The customer life cycle comes from the practice of CRM where it’s traditionally used to map the different stages a customer goes through from considering a product, service or solution to the actual buy and, at least as important, the post-purchase stages (where customer retention, customer loyalty .