Simple as ordering a Coffee.
Think of the customer lifetime cycle as a journey your customers take with your business. Also known as the customer lifecycle, it refers to the stages a customer goes through from their first interaction with your business to their final or ongoing engagement. Understanding this cycle is crucial for building long-term relationships and maximizing the value each customer brings. Let’s use a coffee shop as an example to make it simple.
“Understanding customer lifetime cycle is crucial for building long-term relationships and maximizing the value each customer brings.”
- Awareness: A customer sees an ad for your coffee shop on social media or hears about it from a friend.
• Goal: Make people aware that your coffee shop exists.
• Strategies: Social media posts, flyers, word-of-mouth recommendations. - Engagement: The potential customer follows your coffee shop on Instagram, likes your posts, or visits your website to check the menu.
• Goal: Get people interested in your coffee shop.
• Strategies: Posting engaging content, responding to comments, holding events. - Consideration: The customer reads reviews, checks out the prices, and compares your shop to others nearby.
• Goal: Show why your coffee shop is the best choice.
• Strategies: Highlighting customer reviews, showcasing unique drinks or specialties. - Purchase: The customer makes their first purchase, ordering a coffee and maybe a pastry.
• Goal: Make the buying experience easy and pleasant.
• Strategies: Friendly service, a clean and welcoming environment, easy payment options. - Retention: The customer returns often, maybe signing up for a loyalty card or receiving special offers.
• Goal: Keep customers coming back.
• Strategies: Loyalty programs, personalized offers, excellent customer service. - Advocacy: The loyal customer recommends your coffee shop to friends and family or posts about it on social media.
• Goal: Turn satisfied customers into brand advocates.
• Strategies: Encouraging reviews, creating a referral program, engaging with customers on social media.
“Building a good customer experience does not happen by accident. It happens by design.”
By understanding these stages, you can better guide your customers through their journey, ensuring they have a great experience at each step. By the words of Clare Muscutt, founder of Women in CX (WiCX), and a trailblazer in the field of customer experience (CX) “Building a good customer experience does not happen by accident. It happens by design”.
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