Question

the customer life cycle comprises five stages, list and describe these stages?

Answer 1

There are five stages of the customer lifecycle. They are as shown below.

Reach:

This refers to the point of contact with the customer.

There are various sources to make the point of contact with the customer appropriately.

This could be a referral from another person, social media, mails etc...

Marketing plays a key role and helps in making various points of contact.

Acquisition:

This is the second stage that comes after the successful point of contact with the customer.

The major goal here is to make the people the customers and the subscribers after they visit the business website.

The people visit the website with prior ideas of the product they wish to purchase.

The website must help the customers in mapping their needs and demands to the product.

Conversion:

This is the phase where the lead turns into the paying customer.

In order to achieve this, it must be seen that one must pay the attention to the needs of the customer.

Building relationships with the customer is important.

Retention:

This is the fourth stage where the customer is made as a recurring customer.

The major goal here is to figure how to keep the customers as recurring customers.

This requires maintaining the continuous relationship with the customer in the long term.

Loyalty:

This is one of the main important stages or the relation that must be maintained with the customer.

The final goal of the customer lifecycle is to achieve more customers and maintain a healthy relationship with them.

This makes them recurring customers and improves the business.

Keeping loyal customers in businesses is a key role for the development of the firm.

These are the various customer lifecycle stages.