Imagine a marketing hack that could enable customer-focused businesses to get inside the mind (and wallet) of their prospects and customers, while also improving the overall customer experience that they deliver. When designed and implemented properly, a lifecycle marketing strategy does exactly that.
Interestingly, as well as providing this superior experience for customers, lifecycle marketing can also automate a business’ entire lead generation, lead nurturing and customer sales-cycle progression process so the business owner has more time to enjoy life – all while dramatically improving their revenue and profits at the same time.
It’s almost like having a virtual marketing assistant that works 24/7/365, has a 100% success rate following up with prospects, does not take time off sick and never asks for a pay rise.
So what is Lifecycle Marketing?
It’s generally accepted that people make major purchase decisions based on several physiological stages of the consumer buying process. And depending on where, when and how each of your potential customers finds your business, they will each invariably be at different stages of this process. Here’s our interpretation of the various buying process stages:
Stage 1: Problem Awareness/Recognition/Acceptance
Stage 2: Information Research into Possible Solutions
Stage 3: Evaluate Solution Options
Stage 4: Purchase Decision
Stage 5: Purchase
Stage 6: Post-Purchase
Stage 7: Previous Purchase Experience (i.e. lapsed/inactive customers)
Using the above stages, all prospects and customers are then segmented into three categories based on their previous purchase behavior. We consider people in stages 1-4 to be “Interested Prospects”, people in stages 5-6 to be “Active Customers” and people in stage 7 to be “Inactive Customers”.
Once segmented into the relevant category, marketing communications (including email marketing, search engine marketing, social media, display advertising and retargeting campaigns) can be custom-designed to ensure prospects and customers only receive the appropriate messages based on where they are in the buying cycle. This hyper-relevancy then increase both customer engagement, customer satisfaction and sales conversion rates.
Below are some examples of the types of messages each category might receive. (By no means exhaustive)
Interested Prospect Messages
After all of the above:
Active Customer Messages
Inactive Customer Messages
In summary, lifecycle marketing automatically helps you become a customer-centric business that puts the needs of your customers first.
And the end result is a better experience for your customers and more profit for your business. A true win-win situation!
And there’s more good news…
There’s no longer any need to hook up a gazillion different tech platforms to generate leads and sales for your business.
Using GrowthMachines, you can now implement this type of Lifecycle marketing strategy into your business with one simple, easy-to-use, system.
This simple-but-powerful business growth system runs in the background to automatically find new leads, then deliver the right (personalized) message, at the right time, to the right person.
If you’d like to discuss getting access to the GrowthMachines.io invitation-only beta program, then click the link on the page to schedule a free business growth consultation call.