Customer Lifecycle Marketing is designed to target an entire customer base or pre-defined segments dependent on your organisation’s priorities. Service Providers can begin by targeting one segment according to the most pressing business need before extending to the full customer base.
Each solution contains a number of CLM concepts that can be implemented depending on the target audience , the business challenge and where the customer is within the lifecycle:
Customer Acquisition
The best practice acquisition concepts contain a mix of offers and incentives that can be presented to customers to enhance the lead generation and welcome process via a number of communication channels. Proven to engage subscribers from the very first interaction, when it is vital to secure permission rights and capture personal data to continue meaningful one-to-one dialogues.
Cross-sell and Up-sell
To encourage higher spending it is vital you understand and know your customer. What interests them, what services are they using or not using, how did they respond last time communication took place? Building intelligence around each interaction with your customer and then matching this data to offer additional services or trials at a time triggered by the customer, increases the impact and propensity to respond to offers.
Customer Retention
Once you have secured a new subscriber the relationship you start to build and maintain is crucial to the longevity of that customer. How you engage, when you engage and what you say creates an impression and you need to make sure it's a positive one. Identifying when a customer is most likely to churn is valuable information. Single or collective triggers can be identified, for example declining use of a service, call to customer services reporting billing issues or network problems. Acting on this information and offering the customer a solution as soon as the risk is identified increases the chance of retention tenfold.
Education
Both new and existing customers often have access to services they simply do not use. Identifying non-users of a particular service and building an online education programme is proven to increase the usage and revenues generated. Utilising this CLM concept, non or low-users can be directed to an individualised webpage to easily locate instructions on how to use a service or the steps required to rectify possible problems or barriers to use.
Winback
Once a customer decides to terminate a contract communication should not cease. Customer services can find out why the customer is churning and secure future permission to contact and automate counter-offers to win back the customer's loyalty.
Contact Agillic directly for more information on the type of CLM concepts available Back to top |
