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Customer Lifecycle Management

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A survey of 221 marketing technology decision-makers found that improving customer experiences, especially online experiences, was their top priority. Investing in customer lifecycle management can increase customer loyalty by 1%, equivalent to a 10% cost reduction. It is 5-20% likely to sell to a new prospect but 60-70% likely to sell to an existing customer. Customer loyalty accounts for 38% of margin, 40% of revenue growth, and 38% of shareholder value. The document outlines the phases of targeting, acquiring, onboarding, serving, growing, and retaining customers to personalize their experience over the lifecycle.

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Customer Lifecycle Management Capabilities needed to personalize an online experience over time. Created by: dirk shaw www.dirkshaw.com [email_address]
Customer acquisition... Increasing conversion… Reducing churn... You interested?
Forrester recently surveyed 221 marketing technology decision-makers and influencers to discover their priorities and plans for technology adoption in 2007. Respondents resoundingly agree that improving customer experiences is their top technology theme — in particular, improving online experiences.
Three reasons to invest in Customer touch point management An increase of customer loyalty of 1 percent is equivalent to a 10 percent cost reduction (source: Bain & Co.) The probability of selling to a new prospect is only 5 percent to 20 percent while the probability of selling to an existing customer is 60 percent to 70 percent (source: Marketing Metrics) Customer loyalty accounts for 38 percent of margin, 40 percent of revenue growth and 38 percent of shareholder value (source: Accenture Research). Save Money Increase sales Grow Profitability
Target Acquire Onboard Serve Grow Retain Customer Engagement Customer Lifecycle Personalize the experience a customer has with you over time
Target: Deliver the right message at the right time to the right channel Phase 1: Recognize: Brand management Content Targeting Customer Segmentation Phase 2: Anticipate Email marketing Site marketing Geo targeting Phase 3: Engage A/B Testing Predictive offers Mobile Marketing Customer Engagement Customer Lifecycle Target Acquire Onboard Serve Grow Retain Personalize the experience a customer has with you over time
Acquire: Persuade the customer that you will meet and exceed needs Phase 1: Recognize: Offer Management Persuasive content architecture Phase 2: Anticipate Community Recommendations *Scenario management Rich media Phase 3: Engage *Behavioral Targeting Instant Messaging Customer Engagement Customer Lifecycle Target Acquire Onboard Serve Grow Retain Personalize the experience a customer has with you over time
Onboard: Convert prospects into customers Phase 1: Recognize: *Commerce *Merchandising Phase 2: Anticipate *Product configurations *Rich Visualization Phase 3: Engage Guided Selling Contract Management Customer Engagement Customer Lifecycle Target Acquire Onboard Serve Grow Retain Personalize the experience a customer has with you over time
Serve: Allow customers to self serve in a collaborative environment Phase 1: Recognize: Account Management Customer Feedback Ratings Phase 2: Anticipate Issue resolution Real time alerts Phase 3: Engage Click to call Innovation management Customer Engagement Customer Lifecycle Target Acquire Onboard Serve Grow Retain Personalize the experience a customer has with you over time
Grow: Deepen your relationship with your customer base Phase 1: Recognize: Online Community’s Special Pricing Phase 2: Anticipate Cross Sell Lifecycle dialogs Phase 3: Engage Sales dashboards Event based workflows Customer Engagement Customer Lifecycle Target Acquire Onboard Serve Grow Retain Personalize the experience a customer has with you over time
Retain: Reduce your customer churn Phase 1: Recognize: Enhanced content Phase 2: Anticipate Event based dialogs Knowledge Base Expert location Phase 3: Engage Click to call Instant messaging Customer Engagement Customer Lifecycle Target Acquire Onboard Serve Grow Retain Personalize the experience a customer has with you over time
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Customer Lifecycle Management

  • 1. Customer Lifecycle Management Capabilities needed to personalize an online experience over time. Created by: dirk shaw www.dirkshaw.com [email_address]
  • 2. Customer acquisition... Increasing conversion… Reducing churn... You interested?
  • 3. Forrester recently surveyed 221 marketing technology decision-makers and influencers to discover their priorities and plans for technology adoption in 2007. Respondents resoundingly agree that improving customer experiences is their top technology theme — in particular, improving online experiences.
  • 4. Three reasons to invest in Customer touch point management An increase of customer loyalty of 1 percent is equivalent to a 10 percent cost reduction (source: Bain & Co.) The probability of selling to a new prospect is only 5 percent to 20 percent while the probability of selling to an existing customer is 60 percent to 70 percent (source: Marketing Metrics) Customer loyalty accounts for 38 percent of margin, 40 percent of revenue growth and 38 percent of shareholder value (source: Accenture Research). Save Money Increase sales Grow Profitability
  • 5. Target Acquire Onboard Serve Grow Retain Customer Engagement Customer Lifecycle Personalize the experience a customer has with you over time
  • 6. Target: Deliver the right message at the right time to the right channel Phase 1: Recognize: Brand management Content Targeting Customer Segmentation Phase 2: Anticipate Email marketing Site marketing Geo targeting Phase 3: Engage A/B Testing Predictive offers Mobile Marketing Customer Engagement Customer Lifecycle Target Acquire Onboard Serve Grow Retain Personalize the experience a customer has with you over time
  • 7. Acquire: Persuade the customer that you will meet and exceed needs Phase 1: Recognize: Offer Management Persuasive content architecture Phase 2: Anticipate Community Recommendations *Scenario management Rich media Phase 3: Engage *Behavioral Targeting Instant Messaging Customer Engagement Customer Lifecycle Target Acquire Onboard Serve Grow Retain Personalize the experience a customer has with you over time
  • 8. Onboard: Convert prospects into customers Phase 1: Recognize: *Commerce *Merchandising Phase 2: Anticipate *Product configurations *Rich Visualization Phase 3: Engage Guided Selling Contract Management Customer Engagement Customer Lifecycle Target Acquire Onboard Serve Grow Retain Personalize the experience a customer has with you over time
  • 9. Serve: Allow customers to self serve in a collaborative environment Phase 1: Recognize: Account Management Customer Feedback Ratings Phase 2: Anticipate Issue resolution Real time alerts Phase 3: Engage Click to call Innovation management Customer Engagement Customer Lifecycle Target Acquire Onboard Serve Grow Retain Personalize the experience a customer has with you over time
  • 10. Grow: Deepen your relationship with your customer base Phase 1: Recognize: Online Community’s Special Pricing Phase 2: Anticipate Cross Sell Lifecycle dialogs Phase 3: Engage Sales dashboards Event based workflows Customer Engagement Customer Lifecycle Target Acquire Onboard Serve Grow Retain Personalize the experience a customer has with you over time
  • 11. Retain: Reduce your customer churn Phase 1: Recognize: Enhanced content Phase 2: Anticipate Event based dialogs Knowledge Base Expert location Phase 3: Engage Click to call Instant messaging Customer Engagement Customer Lifecycle Target Acquire Onboard Serve Grow Retain Personalize the experience a customer has with you over time