The Three Steps of the Lifecycle Marketing Cycle
Lifecycle marketing can be broken down into three steps of a cycle: attracting new customers, selling to those customers, and finally wowing them with your excellent customer experience. It is a simple framework, but it’s highly effective if you can complete all three steps with customers.
Attracting New Customers
The first step to almost any marketing technique is attracting customers to your business. There are a lot of methods of attracting new customers, and to start with, you want to do some research: narrow down what demographics of customers are purchasing your products or services already, and identify which may potentially be interested in them. You want to narrow down your marketing to target your ideal demographics in order to have the best chance of expanding your customer base. If you try to target too many people, you may end up not getting to anybody at all.
Knowing your ideal demographic target for your business, you then try to attract their interest through various marketing techniques, whether it is on social media, through compelling website content, by advertising, using PPC advertising, or by organizing events or giveaways. Once you have attracted customers in, you should try to gather their contact information through opt-in marketing forms. Using irresistible offers can improve your chance of getting their information.
Selling to New Customers
Once you have attracted new customers, you need to convert them into sales for your marketing to actually be successful. Not everybody that visits your site or storefront for the first time is going to immediately buy anything, so you need to convince them. The first step is to educate them about your products or services in a captivating manner by placing interesting content on your site about your company ( www.drumroll.com/about ), about each product and service, and about other related interests. Next you want to offer your customers a reason to purchase your product or service. This doesn’t necessarily mean offering coupons or discounts; just relating to a problem they have and showing them a solution using your products or services can be enough. Lastly, you want to close the deal, not just with an exchange of money, but also by offering them great delivery, communication, and the foundation for a lasting relationship with them.
Wowing Your Customers
Gaining returning customers is the end goal of lifecycle marketing, and in order to get a customer to come back to you again, you have to wow them on their first purchase from you—and then you need to continue to wow them with customer support afterwards, and by communicate new offerings as you make them available. A way to continue to engage with customers can be as simple as continuing to provide them interesting content, tips, or resources through email or social media. You can also wow them by showing them interesting cross-sell products they may not have considered, or by upselling them with warranties or special programs.
Your ultimate goal when wowing your customers is referrals: asking them to refer their friends, families, or colleagues to what you are offering. By having given them a “wow”-worthy experience, they will have no problem recommending you. Make it easy for your customers to refer others through landing pages for referrals and social media sharing options.
A lifecycle marketing agency can help your small business navigate the steps of lifecycle marketing to provide you with research data on target customers, interesting content to attract them, and easy means of converting them into sales.