How CRM Helps in Customer Lifecycle Management

Perhaps you currently use CRM software to collect, analyze and organize your customer data. Did you notice how customer behavior changes at different stages of a sales cycle?

Similar to products, your customers also have a lifecycle, and they behave differently at different stages. Thus, your marketing strategy and the way you engage with your customers should vary accordingly. Simplified CRM software such as QuickDesk helps track customer interactions at every stage of the customer lifecycle. These insights enable you to devise effective customer relationship management strategies. There are mainly five stages in the customer lifecycle. Let’s take a closer look at each stage.

Stage 1: Reach

Your aim at this stage is to reach out to your potential customers and gain their attention. At this stage, customers want to know more about your products and services. You should use multiple marketing channels such as social media and print advertising to get your brand message across. With features like auto-dialing, sending SMS broadcast to multiple contacts and DNC screening integration, QuickDesk helps you reach out to your prospects faster.

Stage 2: Acquisition

Here, your primary goal is to collect the prospect’s contact details, including contact number, email, and social profile. At this stage, the customer is interested in your products but is not ready to make a purchase yet. To move customers towards the next stage, your salespeople can start by collecting contact information of customers and entering them into your CRM system. Once you have collected and organized the data, you can use them to implement ongoing communication with your customers through cold calling, email marketing, and social media marketing.

Stage 3: Conversion

Now comes the most coveted phase – conversion. At this phase, the prospect becomes your customer as they make their first purchase. This is your chance to impress the customer by providing them with a great buying experience. If you are selling online, make sure your website is easy to navigate and your payment gateway is secure. You can use your CRM software at this stage to create invoices and send quotations. You can also track the behavior of your customers and find out whether they were satisfied with the purchasing experience.

Stage 4: Retention

At this stage, your aim should be to build a long-term relationship with the first-time buyer. Excellent customer service and after-sales support can help you obtain repeat business from your existing customers. To manage customer relationships at this phase, you need to study your customer’s behaviors and use different marketing techniques for different customers. For instance, you can retain some customers by announcing a loyalty program, while others may be impressed by the good after-sales support. Using a CRM system will provide you with enough information to make an informed decision.

Stage 5: Advocacy

This is the final stage of the customer lifecycle. At this stage, your loyal customers not only continue buying from you, but also promote your brand through word-of-mouth recommendations. Some may even post positive reviews of your products online that will boost your reputation.

For best results, use your CRM software to gain insights into customer behavior and take action at every stage of the customer lifecycle.

To read our previous article, please click here.

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