How Customer Lifecycle Marketing Can Increase Profits

by Xeno Marketing Xeno - Win At Marketing

If you are willing to create a community of loyal customers, you must pay attention to the customer journey. This journey includes different stages a potential customer goes through before becoming your actual customer. This journey does not end here. It even continues once a customer has bought something from your brand. To get a better understanding of this, let us dive into customer lifecycle marketing and how it can be used to increase your profits.

What is customer lifecycle marketing?

Customer lifecycle marketing includes all the marketing tactics that are used at different phases of the customer lifecycle to attract, engage, and retain customers for a lifetime. A customer lifecycle platform is used to collect data regarding the customer lifecycle. In general, marketers consider the five most important phases of the customer journey while deciding on these marketing tactics. These stages are:

1. Awareness: At this stage, the customer becomes aware of your brand. They might watch your ad on social media or receive a recommendation from an influencer, a friend, or any of your existing customers.

 

2. Engagement: At this stage, the customer contacts or engages with your brand, and communication is initiated between your brand and the customer. For instance, a potential customer might follow you on social media or sign-up for your newsletter.

 

3. Evaluation: At this stage, the customer decided whether it is worth buying your product. The customer might compare prices and products with other brands, read reviews, etc. to make an informed decision. Here, the content that you provide on your website can be helpful for them.

 

4. Purchase: At this stage, the customer decides to make a purchase from your brand and buys your product. Here, you can ensure complete support to the customers. For instance, you can offer live chat and answer their queries. You can send a special discount or free shipping. You can follow up with them if they have abandoned their cart and encourage them to make the purchase.

 

5. Bonding: At this stage, the customer establishes a long-lasting relationship with your brand. For instance, you might encourage them to sign up for a loyalty program. You can send them personal recommendations to make a new purchase. You can provide them with a discount or access to a special sale. You can ask them to refer your product to friends and achieve rewards and so on.

 

Leveraging customer lifecycle marketing for your success

You can use customer lifecycle marketing to ensure your brand’s success in the following ways:

●     By making every customer feel special through personalized marketing. You can offer exclusive deals and membership offers to the customers based on how actively engaged they are with your brand.

●     By keeping track of customer loyalty. You can determine when a customer purchases from your brand again and use their data to attract more such customers.

●     By sharing email updates with them and collecting their details through email opt-ins, surveys, and other subscriptions. This way you can collect customer data and understand them at a deeper level.

●     By implementing an omnichannel strategy for your business. You can start integrating different marketing channels and provide the customers with a unified shopping experience.

In all, a customer lifecycle marketing strategy focuses on nurturing the customers and encouraging them to stay with your brand. It focuses on the needs of the customers at each phase of the customer lifecycle platform and uses a marketing tactic accordingly. For instance, at the awareness stage, a customer needs to know more about the brand. So, one can send them a series of emails or provide a series of blog posts answering common queries of new customers. If you have not started developing marketing strategies based on different phases of a customer’s journey, you must start today and experience all the benefits customer lifecycle marketing has to offer to you.

 

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Created on Apr 13th 2022 12:09. Viewed 195 times.

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