Customer Life Cycle
Customer Life Cycle refers to the stages that a customer goes through while engaging with a product or service. It typically includes the following phases: Acquisition, Activation, Retention, and Revenue. In the Acquisition stage, customers discover and become interested in the product. Activation refers to the customer's first positive experience with the product, which may involve onboarding or initial usage. Retention focuses on keeping customers engaged and satisfied, encouraging repeat usage. Lastly, Revenue involves upselling or cross-selling to existing customers. Understanding the Customer Life Cycle helps product managers optimize each stage to drive customer growth and loyalty.