Batch 2021-2023

CRM ASSISGNMENT

TOPIC : CRM LIFECYCLE

Submitted by :
Submitted To: Srishti Singh
Dr. Pooja Pastore Shukla Rishi Raj Mishra
CUSTOMER LIFE CYCLE

In customer relationship management (CRM),

customer lifecycle is a term used to describe the
progression of steps a customer goes through
when considering, purchasing, using and
maintaining loyalty to a product or service
 1. REACH

CUSTOMER 2. ACQUISITION

RELATIONSHIP
3. CONVERSION
MANAGEMENT 
4. RETENTION
LIFECYCLE
STAGES 5. LOYALTY
 REACH

In this stage, a customer first develops awareness of

a company’s product or service. The awareness
could have come from social media, advertisements,
by word of mouth from friends or from other
means. The objective is to create the association
between the brand and a current or future need.
ACQUISITION

In this stage, customers learn more about the

company’s offerings from visits to the website,
conversations with sales representatives or by
experiencing or testing products in a store.
 CONVERSION

At this stage customer purchases a product

or service. It is important to understand
the customers’ key purchasing criteria,
then position products to have a clear
advantage over competitive offerings.
RETENTION

Now that a new customer has been acquired,

the focus is to help the customer derive
satisfaction and value from the product and
services. Customer retention is important as
studies show that it costs less to retain
existing customers than to acquire new ones
 LOYALITY

In the loyalty stage, satisfied customers

continue using the product or continue
renewing their term for subscription-based
offerings. Loyal customers may opt for
additional services or purchase higher-priced
options. In addition, loyal customers will
recommend the products or services to
colleagues, friends and family