Each business phase determines what the growth marketers need to do to move the business to the next phase or remain in the maturity phase. In order for growth marketers to determine the right strategy to grow the business, they must first understand their customers. The customer lifecycle is a comprehensive journey, mapping out the phases from when a potential customer first learns of a brand (awareness) to becoming a loyal advocate. A typical customer lifecycle includes awareness, consideration (evaluation), conversion (acquisition), engagement and retention, and loyalty and advocacy (see Figure 5.1).
FIGURE5.1 Customer lifecycle stages
SOURCE Reproduced with ...
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