Saturday, 25 June 2016

Best Customer Lifecycle Management to Drive Business Growth

The job is not done in a business when a deal is locked, the growth and the profit of the business depends on many other factors. One of the most important factors is how well the company can interact with its customers and keep it in the loop. Real job starts after all the prospecting, acquiring and sales process is over.

However, there are many departments in an organization but the Customer Lifecycle Management (CLM) or Customer Experience Management (CEM) solutions is there to ensure that your interaction with the customer base is optimal and on a regular basis.
The breakdown of Customer Lifecycle Management

The customer lifecycle is going to last beyond the first handshake and what happens after the handshake is pretty important. The customer lifecycle management has several customer management processes but it can be widely grouped in three phases – pre-agreement, agreement and post-agreement phases. Let us have a look at the key management processes:
    •  Acquiring customers
    • Getting customers onboard
    • Selling and upselling to customers
    • Retention of customers
    • Instilling loyalty
The idea of this management cycle it to get a perfect strategy that would work across all platforms right from marketing, sales to providing the best services to the customer.

The pre-agreement phase of the CLM is to acquire as many customers as possible and this is done by strategically planning two steps – lead management and campaign management. In these steps, research is done to identify the target customer base and then active participation is required on the behalf of the people who want to acquire them.

In the second phase which is the agreement phase, the company focuses on managing the requests of the customers and handling all sales related tasks to ensure that the customer doesn’t leave them.

Post-agreement phase is where you get to earn your brownie points. Not everyone focuses on this but it is important to earn the trust of your customers. The phase includes providing great customer service and organizing loyalty campaigns to win the trust of the customers so that they stick with you for a long time.

If you find CLM taxing, outsource to a premium BPO, today!

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