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Customer Essay

808 words - 4 pages

A-H: LEAD GENERATION.
Lead generation describes the marketing process of stimulating and capturing interest in a product or service for the purpose of developing sales pipeline.
Lead generation often uses digital channels, and has been undergoing substantial changes in recent years from the rise of new online and social techniques. In particular, the abundance of information readily available online has led to the rise of the “self-directed buyer” and the emergence of new techniques to develop and qualify potential leads before passing them to sales.
The buying process has changed, and marketers need to find new ways to reach buyers and get heard through the noise. Instead of finding ...view middle of the document...

In customer relationship management (CRM), customer life 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.
Marketing analysts have developed a matrix that breaks the customer life cycle into five distinct steps: reach, acquisition, conversion, retention, and loyalty. In layman's terms, 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. The customer life cycle is often depicted by an ellipse, representing the fact that customer retention truly is a cycle and the goal of effective CRM is to get the customer to move through the cycle again and again.

Q-Z: CONVERSION.
In electronic commerce, conversion marketing is the act of converting site visitors into paying customers. However, different sites may consider a "conversion" to be some sort of result other than a sale. One example of a conversion event other than a sale is if a customer were to abandon an online shopping cart, the company could market a special offer, e.g. free shipping, to convert the visitor into a paying customer. A company may also try to recover the abandoner through an online engagement method such as proactive chat in an attempt to assist the customer through the purchase process.
The efficacy of conversion marketing is measured by the conversion rate,...

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