The customer lifecycle consists of five stages: awareness, engagement, conversion, retention, and loyalty.
It is likely that at some point a few of our consumers may discontinue the partnership. Sometimes, it is unavoidable, so, rather than resisting, it is much better to honour and support their decision.
Even better, how about we look for customers who are no longer a good fit for our company’s values, focus, strength, and energy? We devise a strategy to contact them and assist them in finding a new supplier. It may seem excessive, but if we proactively cut 10% of clients who are no longer aligned with our business principles and objectives, we will have a greater chance of focusing on the customers who can truly benefit from our offerings.
How about adding a new stage – ‘Offboarding’ at the end of the Customer Life Cycle?
Consider using Customer Relationship Management (CRM) to discover 10% of customers who are not aligned with our goals/strategy. Is it a win-win situation for us and our ex-customers? We may decide to direct our customers to one of our strategic partners. In this situation, our partners benefit as well!
Why are we hesitant to include the final stage in the customer lifecycle? Customer offboarding is indeed the last stage of our customer journey. Make it remarkable by carefully preparing and executing it to guarantee that all parties win!
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