Customer lifecycle is, obviously, different for each product and service. More importantly, though, individual customers' purchase and use activity define the lifecycle. If you can evaluate lifecycle from both an individual and aggregated customer basis, rather than on a product basis (which may be considerably more fickle and transitory), your results are likely to be much more stable and predictable over time.
Dig Deeper on Customer loyalty and retention
Related Q&A from Michael Lowenstein
Find out if luxury retail stores should offer loyalty programs for their customers in this tip. Learn how some luxury retail brands build loyal ... Continue Reading
Get an experts take on raising the hurdle rates of a customer loyalty program and learn more about value-added benefits from Michael Lowenstein. Continue Reading
Learn a few ways to measure customer loyalty and find out about customer spend or "share of wallet," which expert Michael Lowenstein believes to be ... Continue Reading
Have a question for an expert?
Please add a title for your question
Get answers from a TechTarget expert on whatever's puzzling you.