Entrepreneurs on Fire
How to Build a Customer Lifecycle with Saumil Mehta: An EOFire Classic from 2021
Jan 2, 2025
Saumil Mehta, head of Square’s Point of Sale and CRM unit, discusses innovative strategies for building a customer lifecycle. He emphasizes the importance of engaging customers from the very first spark of awareness to lifelong advocacy. Saumil highlights Square's mission of democratizing economic access and the evolution of their tools, like Cash App. He shares actionable insights on integrating omnichannel experiences and using CRM software effectively, making it clear that crafting outstanding customer experiences is crucial for today’s entrepreneurs.
37:36
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Quick takeaways
- Understanding the five stages of the customer lifecycle—awareness, consideration, conversion, retention, and loyalty—is essential for developing effective marketing strategies.
- Implementing an omni-channel approach enhances customer experience by ensuring seamless interactions across various online and offline platforms.
Deep dives
Understanding Customer Lifecycle Stages
The customer lifecycle comprises five distinct stages: awareness, consideration, conversion, retention, and loyalty. Awareness is where potential customers recognize their need for a product or service and learn about your brand. Consideration involves evaluating options available in the market, while conversion is the moment a transaction occurs. Retention focuses on keeping customers returning for repeat purchases, and loyalty or advocacy means customers not only return but actively promote the brand to others.
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