Question

Describe stages of retention in the customer life cycle.

Answer 1

A CRM system integrates all four phases of the customer life cycle into three major processes. These processes are solicitation, lead-tracking, and relationship management. The diagram above depicts the four phases and the three major processes

The customer lifecycle is a term that describes the different steps a customer goes through when they are considering, buying, using, and remaining loyal to a particular product or service. This lifecycle has been broken down into five distinct stages: reach, acquisition, conversion, retention, and loyalty.