subject: The Importance Of Customer Lifecycle Marketing [print this page] Customer lifecycle (CLC) shares some similarities with product lifecycle. However, CLC focuses more on delivery of services needed by customers throughout their life. To be precise, CLC is the timely delivery of lifetime value to the client or customer. So, the entire procedure is marketing-oriented and includes a strategic marketing concept.
To illustrate customer lifecycle, the best example would be the banking sector. Banks provide a number of services. From savings and current accounts, student and mortgage loans to insurance and pension plans, banks always try to retain customers. An individual opts for a student loan when in college, a pension plan during his flourishing career and savings plan for his or her children after starting a family. This is how a bank retains customers by offering different customer servicing options throughout the persons lifea good example of customer lifecycle.
A good customer relationship is portrayed by a lifecycle. It is dynamic and developing relationship between organisation and customer that evolves over time. There are many services that provide useful approaches and tools for building an extensive CLC. A good customer lifecycle marketing campaign can bring fruitful results to your varied business objectives, all of which boil down to
1.Customer education,
2.Customer retention and
3.winning Customer loyalty.
CLC marketing also embodies key facts on marketing strategies as follows:
* Customers should be carefully analysed and managed throughout their lifecycle. This can be achieved if your key agents and employees analyse their profile and interactions to make sure they interact with the right message at the right time.
* Since the most important goal of marketing is customer retention, CLC marketing should involve various strategies to attract and retain customers. This will extend customers lifetime value and help grow a profitable customer base.
* A good use of customer profiles and interactions are important components of developing interactive marketing programmes.
By considering customer interaction as an important component, important information can be secured to help increase product loyalty and profitability. By developing custom brand interaction programmes through a CLC marketing strategy, your company will surely get benefited in terms of substantial revenues and profits.
