oboloo Glossary

Account Cycle Steps

oboloo Glossary

Account Cycle Steps

The Account Cycle Steps is a business process that lays out how companies move from the acquisition of new customers to improving customer relationships. It involves four distinct steps: acquiring customers, onboarding, maintaining customer relationships and servicing customer requests. By understanding and leveraging these cycle steps, businesses are better equipped to build relationships with existing customers, attract new ones and respond effectively to customer needs. Each step in the chain provides a unique opportunity for businesses to build trust and foster loyalty with their customers. When done right, the Account Cycle Steps can create a profitable relationship that lasts for years.