Relationship-Centricity

The key goal of lifecycle management is to maximize the customer's lifespan with the bank, integrate them into everyday banking services, and increase product penetration, which will enable solving the customer's problems in the long term. In this article, we will discuss the details and practical examples that banks can use in their customer lifecycle management.

In this article, we will analyze a new category of processes designed to cultivate customer relationships. These processes seamlessly integrate into sales and service operations, forming a unified approach that facilitates smooth transitions between products throughout the length of the customer's interaction with the bank.

In the book Why Loyalty Matters, authors Timothy Keiningham and Lerzan Aksoy use the Ipsos Loyalty study to analyze the business, psychological and social aspects of loyalty.

MacLeod’s argues that businesses tend to prioritise selling new products and neglect the ‘end’ of the product usage cycle. MacLeod outlines why this happens, and why it is a problem.

In this book, Robert Rossman and Matthew Duerden provide an excellent introduction to the principles of experience design, drawing on a variety of real life examples.

Siggelkow and Terwiesch propose 4 frameworks for transforming episodic interations between customers and businesses into continuous customer relationships, removing many of the issues of traditional business models.

Author John DiJulius highlights the importance of relationship building. DiJulius is considered a premier authority on world-class Customer service and is the author of three books on Customer experience.

Edited by Don Peppers and Martha Rogers, this is a textbook-style volume on customer relationship management, collating materials and chapters from leading authorities in the field.

The book advocates that creating an intentional, consistent, differentiated and valuable customer experience that is synonymous with your brand is increasingly recognized as a vital driver of corporate performance.