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What is the customer lifecycle, and why should we use it to guide our decisions?
The customer lifecycle describes the entire relationship, not just the sale. It is a reminder that the customer does not cease to exist once the agreement has been signed.
Awareness, consideration, purchase, use, and renewal. Sales owns the first three, while delivery and service own the last two. Very few businesses measure the entire journey.
From sales to delivery, and from delivery to service. The customer experiences one company; internally, there are three departments, each with its own system and its own perspective. This is where most customer experiences fall apart.
Don’t just measure new sales. Also measure how many customers renew and how many leave, and why. It is usually cheaper to retain customers than to acquire new ones.
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