DSTB1 – CCL3 min read


Online Business
Research

What is customer lifecycle? – Definition from WhatIs.com (techtarget.com) [21.08.2022]

. reach.

In this stage, a customer first develops awareness of a company’s product or service. The awareness could have come from social media, advertisements, by word of mouth from friends or from other means. The customer may or may not have an immediate need for the product or service, however, the objective is to create the association between the brand and a current or future need. – What is customer lifecycle? – Definition from WhatIs.com (techtarget.com)

measureable
metrics

impressions.
branded searches.
website visits
.

. acquisition.

While the prior stage created a loose association between the brand and a customer’s need, the acquisition stage deepens that association. In this stage, customers learn more about the company’s offerings from visits to the website, conversations with sales representatives or by experiencing or testing products in a store. – What is customer lifecycle? – Definition from WhatIs.com (techtarget.com)

measureable
metrics

leads.
inquiries
.

. conversion.

This is the stage where customers purchase a product or service. It is important to understand the customers’ key purchasing criteria, then position products to have a clear advantage over competitive offerings. – What is customer lifecycle? – Definition from WhatIs.com (techtarget.com)

measureable
metrics

lead Conversion rates.
opportunity-to-close rates.

. retention.

Now that a new customer has been acquired, the focus is to help the customer derive satisfaction and value from the product and services. A company can achieve this by using surveys and phone calls to understand customer satisfaction and address any issues that arise. Customer retention is important as studies show that it costs less to retain existing customers than to acquire new ones. – What is customer lifecycle? – Definition from WhatIs.com (techtarget.com)

measureable
metrics

renewal rates.

. loyality.

In the loyalty stage, satisfied customers continue using the product or continue renewing their term for subscription-based offerings. Loyal customers may opt for additional services or purchase higher-priced options. In addition, loyal customers will recommend the products or services to colleagues, friends and family. – What is customer lifecycle? – Definition from WhatIs.com (techtarget.com)

measureable
metrics

Net promoter scores (NPS).
customer satisfaction (CSAT)

scores.

. Complete Customer Lifecycle:


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