Customer Lifecycle Management

Wave
July 3, 2019

Customer lifecycle management (CLM) is the measurement of specific metrics relating to customers and the value they bring to your business.

What is Customer Lifecycle Management?

Customer lifecycle management is a simple concept — it’s basically marketing to users based on what lifecycle stage they’re in. After all, the marketing message you send to a brand new user should be different from the message to a loyal customer of many years.

Customer Lifecycle Management Stages

Traditional customer lifecycle stages will include at least five different stages:

  1. Acquire – where you market broadly to raise brand awareness and acquire new customers
  2. Retain – where you engage new customers and get them into the habit of using your brand
  3. Monetize – where you motivate engaged customers to buy and increase their customer lifetime value
  4. Reward – where you give loyal customers perks for repeat business
  5. Reactivate – where you win back those who’ve dropped off or opted out

You should be tracking and maximizing the purchase experience at each and every stage of the customer buying cycle.

For growth and retention teams, this process gives you a way to predict what customers need at every stage so you can communicate with them in the most relevant way.

Read More About Customer Lifecycle Management

You might think your app offers an outstanding experience but ...
It’s like Tetris. Finding product-market fit seems easy until you ...
Every one of your customers has a story — and ...
Back to Glossary
Related Keywords
Personalization

In a nutshell, personalization is about providing relevant, individualized content. This might ta...

Read More
Lifecycle Marketing

The essence of lifecycle marketing is to communicate with your users at every customer lifecycle ...

Read More
Segmentation

User segmentation is the practice of dividing your app users on the basis of past or real-time be...

Read More
Viral Marketing

You’ve seen the memes on social media or the videos on Youtube that are shared millions of times,...

Read More