BUSINESS ADMINISTRATION
CUSTOMER RELATION MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Customer popsicle
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Customer lifecycle
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Customer business cycle
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Customer circle of life
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Detailed explanation-1: -The cumulative value of all the funds a customer spends with a company is known as their “customer lifetime value (CLV)” or “customer life cycle value”.
Detailed explanation-2: -In customer relationship management (CRM), customer lifecycle is a term used to describe the progression of steps a customer goes through when considering, purchasing, using and maintaining loyalty to a product or service.
Detailed explanation-3: -Customer data includes the behavioral, demographic, and personal information businesses collect from their audience. Brands collect customer data to better understand, communicate, and engage with target customers.
Detailed explanation-4: -Customer Lifecycle Stage: Reach, Acquisition, Conversion, Retention.
Detailed explanation-5: -CRM systems start by collecting a customer’s website, email, telephone, and social media data-and more-across multiple sources and channels.