Customer Life Cycle
Definition of
Customer Life Cycle
In the context of a customer relationship management (CRM) platform, a Customer Life Cycle is the collection of steps that a customer is driven to, from lead capture through all the sales funnel until retention or churn. This information is utilized and analyzed by the company in order to create effective marketing strategies, identify consumer behavior, and tailor-fit services to customers. Different stages of the life cycle are studied and optimized separately in order to isolate problems, detect churns in the funnel and increase the overall customer conversion and retention.
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