Customer Buying Lifecycle

What is a Customer Buying Lifecycle?

The customer buying lifecycle is a process consisting of customer research, inquiry, purchase, and usage necessary to build and nurture customer relationships. The customer buying lifecycle encompasses basic stages including: 1. customer awareness (addressing customer needs and offering solutions), 2. customer interest (prospect / lead developing; directing the customer to a sales rep), 3. consideration to purchase / trial offer or purchase (sample sale or test service), 4. purchase (the revenue stage), 5. customer support (the success phase; optimizing satisfaction), 6. repeat business / customer loyalty (long-term customer relationships), and 7. customer referral / customer advocacy (through WOM / social networking).