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 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!
