What is Lifecycle Marketing?

By Brandon Gains

ASOS lifecycle marketing

(Source)

What is Lifecycle Marketing?

What separates the amateur and the professional salesman? It’s not the car, the clothes, or the coffee. Nor is it the product. A real pro could offset global warming by selling ice in Alaska. The approach is what separates the pro and the amateur.

The professional knows that once they’ve got the prospect’s attention and they’re talking value, they’ve got all day to make a sale. The professional understands that they’re going to develop a relationship with their customer and listen to their needs.

The amateur thinks the one who talks fastest wins, that the deal has to be made now or never. That’s simply not true, and this short-term mentality often sends them home empty handed. Truth is, when you know you’re out to create a lasting relationship with a customer, you talk to them differently.

Just like you know you’d rather spend time chatting with a sales professional than the tiresome amateur, customers appreciate this relationship-oriented approach from brands.

This is why customer lifecycle marketing is so effective. Brands build relationships with users throughout their customer lifecycle and across multi-channel touchpoints. Your marketing campaigns are the confident way to show prospects and customers that you’re serious about their needs and capable of delivering on your promises.

This helps lower churn rates, boosts conversions, and improve marketing ROI. Users feel appreciated by the nurturing care and respond by making repeat purchases and referrals. On average, a loyal customer is worth as much as 10x of their first purchase.

What is lifecycle marketing, exactly? Today we’ll define and dive deep on this topic. What the benefits are, how to structure a campaign, as well as examples from leading brands – all this is coming your way. This article is going to show you how to skip the short hustle and go for the big wins with lifecycle marketing.

What is Customer Lifecycle Marketing?

“It’s important to recognize that Lifecycle Marketing isn’t just about sending messages customers might like — it’s about positively influencing their behavior.”

–Anthony Nygren, EMI Strategic Marketing

Customer lifecycle marketing is a communication strategy that both values and recognizes the process of becoming engaged, loyal customer and so delivers responsive messaging throughout the customer journey to encourage a lasting and rewarding customer experience.

In essence, customer lifecycle marketing (CLM) engages each prospect, lead, and customer differently because they’re at different phases of the funnel. Because each stage is unique, this strategy emphasizes addressing customer needs and requirements as they engage with your brand.

Focusing on the entire customer experience, from acquisition to sale to loyalty to referrals means touchpoints are consistent and aligned with your customer.

Different stages of the journey will require different marketing messages and strategies. When, how, and why messaging is delivered is based on contextual messaging. How do we develop a functional approach to crafting lifecycle campaigns?

#1 Customer data: Numerous data sources must be combined to provide a comprehensive, and evolving, view of individual customers while highlighting their preferences and stage in the customer journey.

What does the professional do? Seek Go to the full article.

Source:: Business2Community