Customer Relationship Cycle
Customer Relationship cycle 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. There are five distinct steps: acquisition, maintain, maximize, loyalty and retain. This means getting a potential customer's attention, teaching them what you have to offer, turning them into a paying customer, and then keeping them as a loyal customer whose satisfaction with the product or service urges other customers to join the cycle.
Customer Life Cycle
This term is often confused with the Relationship cycle, Customer Life Cycle is the natural life cycle of a person that based on the life’s experiences and major events. This person will purchase products and services from your company based on likes and needs for your products and services.
