Customer Lifecycle Marketing Strategies & Tactics
One of the most crucial elements for success for any business is maintaining and fostering relations with customers. Research shows that by increasing customer retention efforts by 5%, businesses experience a 25% increase in profits. This is because not only would those customers make repeat purchases, but they would also recommend the business and the products to their friends and family.
Therefore, putting in the effort to turn buyers into loyal customers who would repeatedly buy from your business will prove beneficial in the long run. To ensure repeat, loyal customers, you need a fool-proof lifecycle marketing strategy and understand the lifecycle marketing definition.
What is Customer Lifecycle Marketing?
A lifecycle marketing strategy focuses on all tactics that a company uses to make sure customers don’t reach the end of their buyer journey and stop buying from you. Customer lifecycle marketing entails understanding where the customer is in their journey and using strategies to attract, retain, and convert them.
If you are looking for ways to expand your customer base and enhance relationships with your existing customers, continue reading. This guide will provide tactics that you can leverage as part of your lifecycle marketing strategy. For your strategy to be effective, you will have to apply these tactics at various customer lifecycle stages.
Stage #1: Awareness
In this stage, customers are just finding out about your products and developing a relationship with your business. You mustn’t get too aggressive with your marketing at this stage. That would ultimately increase expectations, and customers would then expect the same marketing throughout their journey with your company.
Some of the tactics you can use in this stage are billboards, TV ads, social media marketing, and sponsored posts. The ads should be eye-catching, straightforward, and informative. The point of these tactics is to make potential customers aware of your product. Thus, keyword-optimized content would be super helpful.
Stage #2: Engagement
This stage begins when the customer is interested in learning more about your product, service, and company. Thus, they would look for more channels to interact with you. Therefore, it is essential to have relevant content on your website with clear and strong CTAs. The content should be about why the customers need your product and why they should invest in it.
Moreover, make sure you are active on social media platforms as customers would visit them to know more about you. Social media also shows how your company is open to interacting with potential customers.
Stage #3: Evaluation
At this stage, customers begin to consider buying your product or service seriously. Thus, your lifecycle marketing strategy should focus on providing customers with all the details about the product or service. Moreover, detailed reviews from third-party actors, such as bloggers and influencers, become crucial to buying your products.
Your marketing strategy, during this lifecycle stage, should also focus on emphasizing why your product is better than that of your competitors and the guarantees you offer. You must leave no stone unturned and provide all details and a strong call to action.
Stage #4: Purchase
During this lifecycle stage, the customer has finally decided to buy your product or service. Therefore, your lifecycle marketing strategy does not need to be too aggressive. It should no longer be about convincing the customers to buy; in fact, it should provide clear instructions and guidance on purchasing.
At this point, your CTAs need to be as clear and specific as possible so that there is no friction in the purchasing process. Providing live chat support is also excellent in guiding the customers through this process. Over 93% of customers buy again from companies that provide excellent customer service.
Stage #5: Post-Purchase
During the post-purchase stage, companies often go overboard by engaging in aggressive marketing or completely ignoring their customers. Both of these actions can lead to severe consequences. Remember, it is essential to strike a balance between the two.
At this stage, you should focus on following up with your customers through surveys, newsletters, or related products that they would be interested in. Furthermore, the main aim is to attract customers to make a repeat purchase and eventually, become loyal customers. Hence, a good lifecycle marketing example would be to promote running attire or a water bottle to a customer who just bought training shoes.
Customer lifecycle strategies vary according to business and industries, but by following these tactics, you are likely to enhance customer experience and possibly retain potential customers. If you are still unsure about the relevant strategy to use, consider using professional services from Mera Group. We can guide you with your lifecycle marketing strategy and take your business to the next level. For more information, you can contact us here on our website for a free consultation!
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