Customer lifecycle management

Definition

Customer lifecycle management is the act of measuring how effective your organization is at moving the customer from touch point to touch point along the customer journey. In practice, customer lifecycle management means looking at the different stages of the customer journey, from awareness through to purchasing and advocacy, identifying the key interactions involved and applying a means of measuring how well each of these interactions is performing its intended role.

Having a clear means of measuring means having actionable data that can be used to judge which touch points are working well and which ones require further optimization. This is why, for example, within the contact center environment, Sitel Group places such an emphasis on gaining customer feedback, be it solicited in the form of CSAT or NPS scores or unsolicited via speech analytics within customer lifecycle management. Each provides a performance benchmark, highlights strengths and identifies opportunities for improvement within the satisfaction, retention and advocacy stages of the customer lifecycle.