Lifecycle Marketing is a set of strategies that are based on the customer’s life cycle and whose objective is to build a good relationship, so all channels are used to maintain that contact and accompany him in all those phases through which he must spend. In other words, with lifecycle marketing, the entire journey that a customer makes is analyzed, from the first contact to the management of the long-term relationship. But what benefits does this practice have? We explain it below and give you some examples.
Main benefits of the marketing life cycle
Thanks to lifecycle marketing you can have a much more accurate view of the journey a customer is taking, which allows you to know what works and what does not. All this leads has:
- A growing customer base after offering a good shopping experience.
- Improve sales by building customer loyalty.
- Turn customers into advocates or brand ambassadors.
- Improve marketing ROI and lifetime value.
The concept of life cycle marketing is associated with the term lifetime value, a measure that refers to the benefits that a customer generates throughout this journey with the brand. This date allows to know the survival of the company in the long term, the degree of customer loyalty and the benefits of the company.
Best Lifecycle Marketing Strategies
In order to carry out a good life cycle marketing strategy, there are a series of strategies that can be carried out within each of the stages:
1. Awareness
At this point the goal is to get leads, so you can create original and quality content that attracts that audience, in addition to doing a good job of SEO positioning and making publications that answer common questions from consumers. You can also advertise on social networks or other channels, among other actions that give visibility to the brand.
2. Commitment
Once the user’s attention has been captured it must be ensured that it stays and places the brand as a benchmark in the sector. It is possible to design an attractive, intuitive and easy-to-navigate web page, have videos about the product or service, publish success stories or other actions that the client has entrusted to the brand.
3. Conversion
If the client believes in the brand, it is time to lead to conversion. Apart from clearly specifying the value of each of the products or services, their characteristics must also be specified and the purchase process made as easy as possible.
To register the conversion you can also use the free samples or trials. This, in addition to generating more confidence in the client, is a way of convincing him of the quality of the product or service for which he will pay.
And, if possible, personalizing the customer experience to the maximum is that this increases the conversion rate.
4. Retention
For the customer to stay, you have to offer good customer servicewhich can be by phone, email or chat, in addition to including a section of frequently asked questions.
Also interesting to keep customers informed about updates of the purchased product or news, as well as offers, promotions, discounts or any information that may be of interest.
5. Loyalty
It’s always a good idea to give away or thank repeat customers in some way. The more valued they feel, the better they will talk about the brand and the more they will recommend it, which is why this is an important point. It can be provided through a loyalty program, discount codes, exclusive access to events, webinars or content and other actions that the client makes the client feel valued and unique. Also, the more personalized these gifts are, the better.
Lifecycle Marketing Success Stories
There are many brands that have applied lifecycle marketing in their campaigns and they have become success stories.
Banana Rebuplic
a sample is Banana Rebublic, a well-known American brand specializing in the production of luxury clothing and accessories. Your strategy is focused on keeping customers coming back, so in addition to offering a very good loyalty program, send attractive and eye-catching emails to those people who have lost touch with the brand. We usually offer discounts or promotions that are difficult to give up, which turns out to be a real success.
Booking
Booking, the popular accommodation search engine, also follows a very interesting lifecycle marketing strategy. The website always sends a very detailed confirmation of the reservation with all its data, change and cancellation policies and information of interest to facilitate other procedures for the traveler, such as reserving a car or a guide to the main tourist places that watch. Later, and with the aim of making the client trust Booking again, they will receive discounts through their Genius loyalty program.
Most brands focus their strategy on email, since it is one of the channels that has proven to be the most effective for contacting customers and re-engaging them, but social networks or other channels can also be used, especially if the customer is find there
