CLM- customer acquisition, retention, cross and up-selling and lapsed customer win-back.
The purpose of the customer life cycle is to define and communicate the stages through which a customer progresses when considering, purchasing and using products, and the associated business processes a company uses to move the customer through the customer life cycle.
2. Introduction To Products,
3. Profiling Of Customers,
4. Growth Of Customer Base,
5. Cultivation Of Loyalty Among Customers,
6. And Termination Of Customer Relationship
This includes things like:
• purchase history, which includes regency frequency and quantity;
• gross amount of money spent on acquiring and retaining the customer through marketing shillings, resources spent generating each sale, as well as post sales service and support;
• and the duration or longevity of that customer's relationship with your business.
Using Prepaid Lifecycle Management enables operators to:
• Monitor the subscriber lifecycle with a Live View of each subscriber’s status, behaviours and Predict future usage, including churn risk trends • Accurately Segment the customer base
• Automatically execute Targeted campaigns to stimulate usage and reduce inactivity • Intervene at precisely the right moment, increasing campaign effectiveness • Proactively Retain subscribers before they consider leaving • Maximise the lifetime value of the existing and new customer base
Secure profitability and extend lifetime value”
Operators incur substantial costs when subsidising handsets and services to acquire or retain Postpaid subscribers. These investments are a double-edged sword, either they boost profits by increasing loyalty, tenure and spend or they simply destroy value by driving a subscriber’s cost up and pushing him to a lower Net Present Value. Understanding how much and when to invest in each...