The 3 Keys to Lifecycle Marketing
What if we told you there was a way to close the gap between lead generation, customer relationship management, and sales? Well, there is—lifecycle marketing. Although first employed by bigger companies, it’s now easier and more affordable than ever, making it a pivotal tool for small and large businesses alike.
What is lifecycle marketing exactly?
Lifecycle marketing is a strategy that engages each customer differently based on where they are on the customer experience journey (e.g. a new lead versus a loyal returning customer). Highly insight-driven, it focuses on supporting prospects and customers throughout their unique path-to-purchase.
Your customers get to enjoy compelling, relevant messaging and you get to watch as your conversion and engagement rates skyrocket. Talk about a win-win. Here we take a look at the three key principles for a successful lifecycle marketing strategy.
If you want to identify where customers are on their path-to-purchase lifecycle, you have to start with data. The phrase “less is more” doesn’t really apply here. The more data the better! An effective lifecycle marketing strategy involves collecting data from a variety of sources in order to get a complete view of your customer and their buying preferences. When was the last time they visited your site? How much did they spend? What items did they add to their cart? Knowing the answers to these questions will help you shape future marketing decisions, allowing for a more personalized, relevant customer experience.
That last point brings us right into our second key to lifecycle marketing—personalization. Your data lets you know where your customers are on their customer experience journey. The next step is to use that information to craft personalized messaging in order to retain them. Unlike with calendar-driven marketing, which focuses on external events like holidays, lifecycle marketing treats customers like individuals. Just consider the effectiveness of Netflix’s recommendation algorithms or an online retailer that reminds you about that sweater you left in your cart. These types of marketing efforts are a great way to engage with both new and existing customers and drive customer retention.
You know where your customers are on the lifecycle. You know what sort of targeted content you want to reach them. The next step? Leveraging marketing automation tools in order to deliver the right message at the right time. At Liqui-Site, we pull out all the stops to make sure we craft a responsive email campaign that customers respond to (even more so than the industry average). Our hands-off email automation tools allow you to streamline your marketing efforts, saving you both time and money.
Lifecycle marketing recognizes that the customer journey is never over. Are your marketing efforts up to the task? We can help. Elevate your style, streamline your processes, and extend your reach. Contact Liqui-Site today.