Tips for Successful Lifecycle Marketing
As we, living beings undergo different phases of life like childhood, teenage, adulthood, etc. and call it the cycle of life in a similar manner, even business, marketing, and sales functions have different phases which are also called lifecycles. Aligning your business with this lifecycle can result in long term gains.
Every customer goes through a journey as they interact with a brand, if you graph their experiences on a timeline, you will get a map of the customer journey. Another method to describe a customer lifecycle journey is where a customer goes through various stages on a path from a prospect to a loyal customer martech news.
By concentrating on personas as well as the stage on which the user is in, you can target your marketing campaigns more finely and whet the message to hit exact pain points. Marketing professionals understand that people often buy after their first touch with a site or brand. Consumers require nurturing at numerous levels throughout the sales funnel.
Without dilatory, let’s dive into Lifecycle marketing,
To begin with, first, let’s understand what is Lifecycle Marketing?
Lifecycle marketing is aggregated interactions, experience, and content that your customers engage with for the period of their time with your brand. They may be potential buyers, new customers or lifetime crusaders.
Customer lifecycle marketing is one of the most underrated overall strategies for ecommerce companies, and it should be your priority in place of a hyper-focus on only acquisition or retention.
It is a meticulous fact that acquiring new customers is costlier than developing existing business, and this approach emphasizes the value of servicing, nurturing and helping customers get from point A to point Z, lifecycle marketing.
Let’s have a look at the goals of lifecycle marketing.
Lifecycle marketing has very simple goals, that are, customer acquisition and customer retention. In the process, you can also achieve,
- Nurture leads or prospects into first-time buyers
- Nurture first-time buyers into second time or repeat customers
- Nurture second-time customers into long-term customers
- Win back Churned users and make them active again
- Support and engage with all users
- Enhance the customer lifetime value of your users
- Increase your ROI (return on investment)
Tips for successful lifecycle marketing
After understanding what is lifecycle marketing and what are its goals, let me now put light on some tips for effective lifecycle marketing
- Develop multiple channels
When your business creates its online and offline presence, it decides which channels it will invest in and where it will build its presence. When doing so, it is important for an organization to consider every channel as a united front of the brand and not a separate outlet. The experience of customers gets while engaging through an application, in a brick and mortar outlet, or through the website of a brand, all parts should be the parts of customer experience that you are aiming to build.
Companies that add channels impromptu or have a separate team looking after every channel without a unified strategy, will suffer. Customers are looking for organizations across all industries to present their brands as a united front over all channels, without exceptions. Anything less could result in a conclusion, a disjointed experience, and customers that completely give up an experience or brand altogether.
- Personalized audience targeting
No matter the industry or size of your organization, customers have become addicted to being treated as a unique person, no matter what. While many brands still have a long way to go, when it comes to advanced personalization, it is crucial that they begin somewhere, is collecting data on each of their clients and plunge to conduct basic segmentation on their audience.
Organizations and brands that utilize the cookie-cutter approach to treat each customer exactly the same will surely fall far behind their competition and eventually alienate their customers and prospective customers in this process.
- Evolve your campaign
Just because a customer has purchased something or engaged with a product or service offering in the past, doesn’t mean your brand should suddenly stop communicating with them. Similarly, it also doesn’t mean that your brand should take the purchase or interaction as a hint to increase the communication level, or change the pattern of messaging altogether. Some customers are peevish, so while communicating with them extra care should be taken.
In fact, once a customer does a business of engages with a company for the first time, they are kicking off their journey, even if by just taking a small first step. Brands and organizations of all kinds need to be sensitive to the expectations of customers and should approach the new relationship just like any meaningful relationship, with discreet interest.
Once a prospective customer starts engaging with an organization in a new manner, whether they actually purchased something, completed a transaction, or simply downloaded a product, that doesn’t mean that the communication strategy of an organization should radically change overnight. Customers shouldn’t sense that a brand has flipped the switch after they have taken an action. Instead, organizations should carefully consider how the entire customer journey should evolve from that point forward.
The customer lifecycle journey may look disorganized and confused, but that doesn’t mean you cannot take control of it. Brands and Businesses across industries understand that it can be incredibly challenging to manage the customer lifecycle in the right way, but doing that is so vital in order to keep customers engaged with their offerings.
ABOUT THE AUTHOR
Aashish is currently a Content writer at Martech Cube. He is an enthusiastic and avid writer. His key region of interests include covering different aspects of technology and mixing them up with layman ideologies to pan out an interesting take. His main area of interests range from medical journals to marketing arena.