Every customer goes through different phases before they finally buy a product from a brand. Generally, these phases are categorized as: reach, acquisition, conversion, retention, and loyalty. This entire journey of a customer from discovering a brand to reaching it out, buying a product, and eventually becoming a loyal customer is known as the customer lifecycle. Understanding the customer lifecycle helps retailers in many ways. They can use more attractive marketing tactics to engage new customers, reduce friction, and create loyal fans and advocates for their brands. Nowadays, retailers use customer lifecycle platforms to gather data regarding every phase of the customer lifecycle and leverage it for their benefit. Customer lifecycle importance: 1. Understanding the customer lifecycle enables retailers to make changes to their marketing campaigns Retailers can find out whether their marketing campaigns are working or not at every stage of the customer lifecyc...