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This is a great example of the productlifecycle (PLC) in action. Overall, the concept of the productlifecycle is to help businesses make decisions on how to mature and grow in the marketplace. This is when marketing teams begin building product awareness and reaching out to potential customers.
For us, as a martech management platform, it’s any product that supports developing and managing the customer experience or contributes to acquiring, engaging and retaining customers. This eliminates artificial lines between marketing, sales and customer success or between adtech, salestech, etc.
This saves you time and creates a built-in customer base you can tap into. What you offer: Are you offering products or services? What is your productlifecycle and how will you handle things like intellectual property? Study up on practices like paid advertising that can help you reach a wider customer base.
Not having a centralized method of creating, managing, and distributing content costs more, hurts revenue, impedes sales, or challenges your ability to effectively service customers. It’s necessary for the future of customer experience. Moving content closer to the customer. But, this argument is almost never universally true.
“[But] we found the opportunity to actually take a step back and look at end-to-end personalisation moments – how could we give customers a complete personalised experience, end-to-end?” “We’re really, really focused on: what are the ten moments that have the most customer value?
If you work with sales, knowing about the ProductLifeCycle model is almost mandatory. The model describes the stages a product goes through in its journey from creation to discontinuation. Because products in different stages demand different strategies, be that for physical products or for services.
Groove’s customer service platform almost died in the introductory stage because they forgot to listen to their customers. They drew people in with a product they assumed would be a hit and pushed forward without taking in customer feedback. People had a terrible experience using their product. The result?
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