Customer lifecycle management

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Customer Lifecycle Management, or CLM is the measurement of multiple customer related metrics, which, when analyzed for a period of time, indicate performance of a business.This term was first coined by Cloud CRM vendor Salesboom.com in 2005.[1] The overall scope of the CLM implementation process encompasses all domains or departments of an organization, which generally brings all sources of static and dynamic data, marketing processes, and value added services to a unified decision supporting platform through iterative phases of customer acquisition, retention, cross and up-selling, and lapsed customer win-back.[2][3]

Some detailed CLM models further breakdown these phases into acquisition, introduction to products, profiling of customers, growth of customer base, cultivation of loyalty among customers, and termination of customer relationship.[4]

According to a DM Review magazine article by Claudia Imhoff, et al., "The purpose of the customer life cycle is to define and communicate the stages through which a customer progresses when considering, purchasing and using products, and the associated business processes a company uses to move the customer through the customer life cycle."[5]

See also[edit]

References[edit]

  1. ^ [1], What is it, and how important is it to your small business?
  2. ^ http://www.realmarket.com/required/rappdigital4.pdf
  3. ^ Barnett, Daniel (14 June 2013). "Customer Lifecycle Management — What Is It?". WORKetc. Retrieved 6 July 2014. 
  4. ^ [2],[dead link] The concept of customer lifecycle management
  5. ^ Claudia Imhoff, Jonathan G. Geiger, Lisa Loftis (November 2002). "Building the Customer-Centric Enterprise". DM Review Magazine. Retrieved 2008-11-04. 

External links[edit]

  • Customer Lifecycle Management (CLM) - What Is It, and How Important Is It to Your Small Business? Fast Approach [3]
  • Customer Lifecycle Management (CLM) - Driving towards customer retention & loyalty [4]
  • Customer Lifecycle Management (CLM) - delivering greater productivity and ROI for automobile dealerships

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