What is Customer Lifecycle Management?
Customer lifecycle management, or CLM, evaluates several customer-related metrics over time to measure the performance of an organization. The intent of CLM is to source all the static and dynamic data, marketing processes, and value-added services under several departments. This creates a joined decision supporting platform through repeated phases of customer acquisition, retention, cross and upselling, and lapsed customer win-back.
If done right, customer lifecycle management and customer lifecycle marketing helps ensure that customers and clients receive high-quality, personalized service at all times, across all stages of the customer journey.
At TTEC, we manage customer lifecycle stages through the identification of key events that drive customer success. We deliver targeted communications when a new contact enters your marketing database, whether through online or offline sales conversion.
We also collaborate with clients to design the optimal engagement strategy with the right products and services campaigns and advanced analytics to measure and drive targeted prospects, build trusted relationships, and ultimately, achieve sales goals.
Additional Customer Lifecycle Management Resources
- Customer Churn Prevention: 3 Best Practices to Retain Customers: Customer retention is critical for brand success. These strategies to prevent customer churn will help decrease costs, increase profitability, and improve customer loyalty and lifetime value.
- 4 CRM Trends Driving CRM Innovation: Customer Relationship Management products have come a long way. Originally just a contact database where customer information is stored, they are now a main customer lifecycle management technology. As a result, we have identified four CRM trends and CRM system innovations that are helping organizations in their quest for better customer experience, improved customer engagement, increased opportunity management, and enhanced automation and security.
- Be Proactive with Speech Analytics for Sales: Speech analytics is an invaluable tool that can help your sales team better understand the phrases, trends, and sentiment behind every successful marketing and sales interaction. That's why it's up to your organization to use speech analytics as part of your marketing strategy to drive sales revenue and create moments that truly matter with your customer.
- Five Essential Steps to Customer-Centric Digital Transformation: Moving from a channel-centric to customer-centric operating model can feel like a mammoth undertaking. Don't worry! In this White Paper, we'll explain the five key steps to enable end-to-end digital transformation that improves customer satisfaction, reduces cost, and increases revenue.
- Customer Journey Strategy: Five Ways to use Customer Journey Maps as a Strategic CX Tool: Customer centricity is an elusive goal. Most companies want to be more customer centric, but enacting the vision is a challenge. We recommend five key steps to understand the current state of customer experience and create an ideal future state, using customer journey maps as tools to guide you.
- Unlock Customer Loyalty with Emotional Engagement: Providing amazing customer service is the key to turning potential customers into customers, existing customers into repeat customers, and loyal customers into long term brand advocates. In this article, learn how to improve customer lifetime value and overall brand loyalty.
- Customer Acquisition as a Service: Insight-based and outcome-driven, we help you find, acquire, and engage customers across all channels to increase sales and customer lifetime value. Our account management solutions manage customer lifecycle stages through advanced analytics and the identification of key events that drive customer success. Our cross-sell and upsell solutions increase the lifetime value and incremental revenue of customers by tailoring offers to complement and enhance their satisfaction.
- Customer Retention and Loyalty Solutions: foster long-lasting relationships and help brands create memorable experiences in the moments that matter to build customer loyalty with every interaction. Our churn reduction solutions address at-risk customers and improve customer retention through a data-driven, personalized approach. Our loyalty optimization solutions leverage a proactive, data-driven process to help build loyalty and expand your share of wallet.