Lifecycle Marketing 101: Keeping Customers Engaged as Lifetime Advocates
Do you have a well-devised strategy that has the ability to attract new customers and retain the existing ones?
We are in an era where “customers’ needs and wants” runs the world of business, making the businesses work harder to earn their loyalty and fulfil their demands at the same time.
In today’s cut-throat competition, you need a well-crafted strategy to establish and manage customer relationships. A part of that includes knowing and following your customer’s journey through different stages — the route they take from being a potential buyer to becoming a lifetime brand advocate.
To get a better understanding of your customer’s wants and to boost your business growth and revenue, let’s delve into what Customer Lifecycle Marketing actually means and how it can keep your customer engaged as Lifetime advocates.
What is Customer Lifecycle Marketing?
Customer Lifecycle Marketing is an approach that focuses on creating a long-lasting relationship with customers. It is a coordinated market effort that touches every phase of a customer’s journey. It allows you to design your customer’s journey as a loop, therefore, creating a holistic approach towards building a loyal customer base.
Customer Lifecycle Marketing involves certain phases that convert prospective customers into lifetime brand advocates -
Awareness < Interest & want < action < retention
Each phase of the customer lifecycle adds to your effort towards creating a relationship with your lead, eventually turning them into a customer.
What are the different stages of Customer Lifecycle Marketing?
- Awareness
Generating awareness is the first stage of Customer Lifecycle Marketing, where a potential customer has come across your business and is about to learn more. During this phase, the customer shows no intentions of buying your product or service. The only goal to pursue here is to create a spark for your product/service and grab the attention of the prospect to move them further down the journey. There are different methods with which you can create awareness about your product/service that mainly includes:
- Creating Awareness through Blog Content and SEO
- Spreading Awareness through different forms of Social Media
These are some of the most optimum channels that can create recognition for your brand.
2. Interest & Want
Now that you have the attention of your customers, find the group of people that are interested in your products and convert them into leads to move them further down the journey. During the interest stage, they are generally unsure whether they want to move forward with a purchase or not. The key to solving this problem is “education”. Educating your leads about how your product can solve their problems will ultimately make them “want” your product/service where they are pretty much ready to pay you. Lead nurturing is an effective way to convince your leads to take action and purchase something.
3. Action
In this stage, the customers are finally convinced to buy your product/service, therefore, making a purchase. Supporting your customers in their decision-making requires trust from your side making sure that your product is trustworthy and some of the best ways to portray that are:
- Driving Purchase through Feedbacks
- Conducting Product Demos
- Customer-based personalisation
4. Retention
This is the final stage in a customer’s journey that connects the loop of Customer Lifecycle Marketing, where it closes and starts anew. In this stage, you should use every possible strategy in your book to provide your customers with an excellent experience and finally convert them into your lifetime advocates. There are many ways to do so, but the most effective ways are:
- Setting Up Referrals Programs
- Improve brand loyalty with rewards and offers
Why do we need Customers as our Lifetime Advocates?
According to numerous studies, it has been proven that most of the future profits generated by a company are collected from a selective pool of existing customers. Customer Retention is a very critical aspect of successful business growth. Marketing Strategies is a necessity for every brand as it largely increase the odds of a customer visiting again and making a repeat purchase. To boost your lifecycle Marketing, all you have to do is follow the steps and make every customer on your doorstep feel special.
With eWards, map out, be a part of it and improve your customer’s journey. Every customer travels a different approach with varying industries. Every brand is unique in its service, featuring its distinctive approach that works with an exclusive target audience. Let us assist you on your journey towards creating a relationship with your customers that ultimately converts them into your Lifetime Advocates.
For queries and demos, contact us at https://ace.myewards.com/
