Misinterpretation of Customer Life Cycle

Customer Life Cycle Management

It is pathetic that most of the Sri Lankan Companies does not appreciate the concept of customer life cycle. From the definition of the customer there is significant misinterpretation in how organizations target their customers.

Most of the companies are only focused on customer who generates the average income. However this misconception should be changed as the person below age 25 with limited cash reserves as per the concept of customer life cycle increases the cash reserves as he evolve and transforms into the average income customers.

The worst experience I have is with my investment advisor, the little amount of effort, the little amount of time he spends on helping me with my investments. The investment advisor does not see the potential value of the youth will be his next generation of valuable customers in the future. With the evolution of social media things have even got worst for a company who does not appreciate the concept of customer life cycle as the youth goes on social media spreading the bad experiences and thus creating negative publicity.

Companies like Dialog Telecom have mastered this concept and has product catering to a kid who starts schooling to the ultimate executive with a blackberry. Thus if Dialog Telecom can satisfy the kid who is of 6 years age, the kid would be loyal customer of Dialog Telecom through his life cycle.