Customer lifecycle management
Encyclopedia
Customer Lifecycle Management, or CLM is the measurement of multiple customer related metrics
, which, when analyzed for a period of time, indicate performance of a business. The overall scope of the CLM implementation process encompasses all domains or departments of an organization, which generally brings all sources of static and dynamic data
, marketing
processes, and value added services to a unified decision supporting platform through iterative phases of customer acquisition, retention, cross and up-selling, and lapsed customer win-back.
Some detailed CLM models further breakdown these phases into acquisition, introduction to products, profiling of customers, growth of customer base, cultivation of loyalty among customers, and termination of customer relationship.
According to a DM Review magazine article by Claudia Imhoff
, et al., "The purpose of the customer life cycle is to define and communicate the stages through which a customer progresses when considering, purchasing and using products, and the associated business processes a company uses to move the customer through the customer life cycle."
Metric (mathematics)
In mathematics, a metric or distance function is a function which defines a distance between elements of a set. A set with a metric is called a metric space. A metric induces a topology on a set but not all topologies can be generated by a metric...
, which, when analyzed for a period of time, indicate performance of a business. The overall scope of the CLM implementation process encompasses all domains or departments of an organization, which generally brings all sources of static and dynamic data
Data
The term data refers to qualitative or quantitative attributes of a variable or set of variables. Data are typically the results of measurements and can be the basis of graphs, images, or observations of a set of variables. Data are often viewed as the lowest level of abstraction from which...
, marketing
Marketing
Marketing is the process used to determine what products or services may be of interest to customers, and the strategy to use in sales, communications and business development. It generates the strategy that underlies sales techniques, business communication, and business developments...
processes, and value added services to a unified decision supporting platform through iterative phases of customer acquisition, retention, cross and up-selling, and lapsed customer win-back.
Some detailed CLM models further breakdown these phases into acquisition, introduction to products, profiling of customers, growth of customer base, cultivation of loyalty among customers, and termination of customer relationship.
According to a DM Review magazine article by Claudia Imhoff
Claudia Imhoff
Claudia Imhoff is a consultant in Business Intelligence and data warehousing and the co-author or author of five books and more than 100 articles on these subjects. She co-created the Corporate Information Factory architecture with Bill Inmon and is the president and founder of Intelligent...
, et al., "The purpose of the customer life cycle is to define and communicate the stages through which a customer progresses when considering, purchasing and using products, and the associated business processes a company uses to move the customer through the customer life cycle."
External links
- Customer Lifecycle Management (CLM) - What Is It, and How Important Is It to Your Small Business? Fast Approach http://www.informationweek.com/whitepaper/Enterprise_Software/wp101076;jsessionid=MWFGNOO2EH01VQE1GHRSKH4ATMY32JVN?articleID=101076&_requestid=74380