Marketing & Sales

Customer Life-Cycle Management

Customer life-cycle management attempts to maximize the profit gained from a customer by optimising their path and experience through the stages of their interaction with the company: acquisition, upsell or cross-sell, retention and debt management. Customer life-cycle management recognises that value can be enhanced by analysing customer interaction in terms of these unique individual stages instead of as a whole.

The customer life-cycle started to gain the attention of industry leaders as the fragmentation of markets and rise of discerning consumers increased alongside globalisation and the emergence of the digital age. Leading companies began to switch away from a product-centric focus toward a customer-centric focus in an effort to capture increased market share and expand into newly emerging markets.

Customer life-cycle management is one of the results of this increasing focus on the consumer, and offers a greater depth of analysis of their behavior.

Most customer life-cycle management techniques involve either enhancements derived from insights into individual stages of the cycle or optimization of the resources devoted to different conflicting stages.

Customer life-cycle management relies on advanced knowledge and techniques that a Consultport consultant can bring onboard for your company.

  • Customer Analytics: Customer life-cycle management relies on deep analytical knowledge of the consumers in your target markets to identify potential profit-enhancing changes. A customer life-cycle management consultant will collect and integrate masses of previously untapped data to provide your company with an actionable, comprehensive view of your consumers’ interactions with your company.
  • Optimizing Customer Experience: All companies want to ensure that their customers have the best possible experience through every stage of their life-cycle. However, limited resources mean that your company needs to balance the care given to different consumer segments at different stages of their customer life-cycle. That is why customer life-cycle management consultants optimize the resources assigned to different customers at different stages based on the greatest possible benefit to the company.
  • Practical Implementation: Many customer life-cycle strategies fail at the implementation stage, where they are faced with the difficult task of translating complex data-driven insights into actionable directions for the front-line employees who are dealing directly with your customers. A life-cycle management consultant has the years of hands-on implementation experience to ensure that your life-cycle insights lead directly to real and tangible improvements in customer management.
  • Reward Programs: Reward programs often present a strong potential for enhancing customer management and developing additional revenue streams from the life-cycle. However, many reward programs fail to realise this potential due to poor implementation. A life-cycle management consultant can develop an integrated reward or loyalty program for your company that encourages traction and affinity with new and existing customers, as well as providing additional consumer data collection and monetisation opportunities.
  • Individual Life-Cycle Stage optimization: Each stage of the customer life-cycle presents an opportunity to optimize the consumer experience and maximize potential revenue generation with a unique set of techniques. From enhancing onboarding through the automation and digitization of registration to increasing retention through new IT support services, a life-cycle management consultant will ensure that every stage of your customer life-cycle is optimized with the latest techniques and technologies.
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