What is CLM?
Customer Lifecycle Management (CLM) is the process by which your relationship with your customer is carefully managed and nurtured throughout its engagement with your business. The nature of different CLM frameworks vary due to the differences in industry, business and customer segment. Nonetheless, the fundamentals are the same.
CLM is about taking care of your customers, as your business grows, to ensure your business continues to grow over time. The core concept here is sustainability. As you acquire and integrate new customers to your business, you need a systematic approach to ensure that existing customer needs are being met.
In future posts, I’ll expand more on CLM and how it’s ideas can be transformed and implemented into your company’s operations.