How to Build and Maintain a Customer-for-Life Philosophy in Business

If you want a sustainable business, predictable revenue, less costly acquisition engine, and shortened sales cycle and lead times, create a business that lives by the customer-for-life philosophy.

According to a study conducted by Marketing Metrics, the success rate of selling to an existing customer is 60–70% while the probability of selling to a new customer stays between 5–20%. This data shows how existing customers are much more valuable than new prospects.

Creating and maintaining a customer-for-life philosophy in business entails more than focusing on customer experience on the frontline. Here’s how you can successfully and sustainably run a business with a customer-for-life philosophy:

1. Start with the customer lifecycle.

Every business has to do pre-sales in a customer lifecycle, from the point of awareness to contract signing. Then, each business must deliver what it is they sold (what we call post-sales, from contract signing to product/service delivered).