Maximizing Value at every Customer Touchpoint in the Customer Life Cycle

The idea of figuring out the various touch points in a customer lifecycle for this article came about while I was dealing with a few financial institutions during the last few weeks on behalf of my father.

While the experiences that I had in the above interactions will be shared in a different article this one I hope will help you capitalize the opportunities for establishing your product and brand with the customer during the entire customer lifecycle.

Good customer service professionals understand that business is about more than just making a quick sale. The best businesses focus on establishing strong relationships with their customers that last. They aim to maximize the value they get from each customer over their entire lifetime.

While some of these stages might be slightly different based on your products and services, majority of these stages apply to every product or service category.

1.Awareness

The first stage is when the customer tries to find out about the product. There are various means adopted by organizations to ensure that they are effectively able to cater to their targeted customers some of which are as listed below:

1. Various mediums of advertisement
2. Public awareness writeups, posts and articles etc.
3. Enabling prominence in internet search
4. Social Media
5. Celebrities who act as brand ambassadors

This stage is also called “reach” because it's your chance to reach the customer while they're deliberating. This stage is successful when the customer reaches out to you for more information, looking to either educate themselves further which leads to the next stage.

2. Education

This is the second stage when the customer tries to find out more details about the product or service and also does his own comparison with competitor brands and products. During this phase the following are a list of methods by which companies can target their future customers and influence their thought process and decision making. In several cases particularly in product sales the product experience starts from this stage itself

• Website
• Email
• Blog
• Demo
• Videos
• References from satisfied friends
• Influencers

When customers visit your website, they should find useful and educational content that assists them in making a buying decision. Whether it's a content offer, pricing page, or blog post, each piece should provide the necessary information to help customers determine whether to make a purchase.

To collect customer information, some of the content should be gated. Additionally, it's crucial to have a live chat feature available for urgent inquiries, ensuring that your service team is readily accessible. In fact, every interaction, should be used and information gathered as it serves as a leading input into the next stage.

3. Acquisition

This is the phase when the customer goes about purchasing the product or the service. Ease of the acquisition is one of the prime drivers during this stage of the customer life cycle. Some of the ways in which organizations influence customer decision making during this stage are as listed below.

• Channels of availability. The requirements can vary depending on the type of channel.
• Models available
• Upsell/cross sell/ replace with other brands
• Financing tie ups and options
• Time and method of delivery of the product

After getting all the necessary information and having a great customer experience with your brand, the prospect becomes a customer. It's important to remember that this is more than just a one-time purchase; it's the start of a relationship.

4. Onboarding

For many products and services, the most crucial part of the customer journey comes in this stage. This is particularly true in most high-tech products and services where we often do not even use a miniscule percentage of the actual features that are available in the product or service.

While most companies prominently project and promote these features the real success will only come if the company is able to make all its customer fully experience and use the features provided by it.

• Features and Operations guide
• Hands on guides
• Ready made tips for quick reference as and when needed
• Product demonstrations by experienced professionals
• Easy availability of videos and material on search and social media platform
• Future References

The key here is never to assume that the customer understands what you had in mind when you designed your product and service, you need to handhold them through this step.

5. Product or Service Usage

This is where the customer starts experiencing the actual product or service. Depending on the type of pf product or service the engagement levels keep varying during this period. Some of the prominent touch points during this cycle where organizations can effectively connect with the customers to convert this usage into loyalty of the brand or product are as listed below.

• Reliability
• Usability
• Ease of making payments/ recharges
• Ease of getting latest updates
• Maintenance of promised features, quality, and experience during the lifetime of usage
• Product and Service Support, which is quick, responsive, and reliable
• Reference Knowledge bases for ease of usage and understanding which could also include brand communities like mentioned in my last week’s article. How do Brands really attract us – The Science of Brand Relationships – Rejo Francis

The experience you offer your customer while they use your product is what will make them stick with you most. But the work doesn't end there. Now you need to focus on keeping the customer coming back to your brand. The goal is to provide ongoing value and make them want to choose your brand over others.

6. Loyalty

The stage only comes in if the customer is satisfied with the product or service. There are also times where the customer will be fully satisfied with the product or service that he is presently using but by the time he reaches the time for the next purchase decision his aspirations for thre new product cannot be met by the existing brand. This leads to the customer shifting to a different brand even though he is full satisfied with the product. Some of the touch points which can be used during this phase are as listed below

• Promotions
• Ratings and Reviews
• Newsletters

To keep customers coming back, it's crucial to know how they're liking what they bought. Reach out and ask them how they're enjoying the product or service. Use customer surveys, measure satisfaction scores, and set up a "Voice of the Customer" program to get their feedback on how to make things even better.

During the loyalty stage, it's essential to provide exclusive perks available only to your customers. Offering 24/7 support, product discounts, and referral bonuses can transform your customers from regular buyers into enthusiastic brand promoters. These special benefits not only enhance their experience but also incentivize them to continue supporting and spreading the word about your brand.

Customer loyalty must be nurtured and instilled in the customer through service experiences that exceeds their needs and proves the value of your product (and of your brand).

Each of these touch points can be further classified and broken down into multiple smaller touch points which would also vary depending on the product or service. The needs and requirements to meet the various points listed down is also not complete. One of the major challenges that organizations face is also maintaining the levels of service both with the product and the service as they scale up and these require an altogether different approach.

To continue getting detailed updates on how to add value at each of these customer touchpoints in more detail do subscribe to this LinkedIn newsletter, Rejo's Biz Bytes or listen to my various thoughts?on life and business on my YT channel?Rejo Francis - YouTube ?or visit my website?Rejo Francis – Inspirational Business Leader .

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