The customer encounters the brand for the first time and makes an impulsive purchase. Will he come back and want to stay with the company? One meeting is not enough: they need time to choose, places of contact with the product and long-term trust. It will not be possible to build this path spontaneously: it will be necessary to create a system that will help attract and retain a customer. A set of algorithms and tools that work for a long-term result is called life cycle marketing.
Companies and organizations build different marketing schemes with the same goals: to attract a buyer, promote a brand, and increase profits. It is not enough to create a conversion funnel and think over the buyer's path. The goal of a marketing strategy is to get a customer who will stay with the brand for a long time.
Stages of Life Cycle Marketing
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Lifecycle marketing is a set of strategies and activities carried out by a company. The organization leads the customer from the first attraction to becoming a brand advocate through various tools and methods. The length of the life cycle depends on the product. Household appliances or a car are bought for years, so such products are carefully selected and the information is studied in detail. The process of becoming a supporter of a food brand is faster: they try, they conclude, they buy. The task of all companies is the same - to make the customer come back for the next purchase. The life cycle marketing plan is conventionally divided into stages in which the client fills his needs.
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1. Awareness. The customer learns about the product for the first time. If he is interested, he will go to the next stage.
2. Engagement. The client wants to learn more about the product and brand, so they subscribe to social media pages and email newsletters.
3. Quality assessment. The client knows the price, the characteristics of the product; the client has compared the product with similar products and is ready to pay money.
4. Acquisition. It is important to make the process of purchasing a product or service simple: click the "buy", "choose", "order" button.
5. Support. You need to find out how satisfied the client is with the purchase and the price / quality ratio.
6. Loyalty. The customer is happy with the purchase and tells others about the brand. The company stimulates interest and attracts new customers.
It is important not to let the process freeze at the last stage. To do this, the company maintains contact with the client on the sites that he has chosen for communication, and thus the marketing of the life cycle is resumed. Сooperation should be considered and planned as well.
Lifecycle Marketing Strategy
The target audience, methods and tools for achieving goals are described in the marketing life cycle strategy: what we do, how we do it, what we do not do, who we interact with. A strategy and a plan based on it helps use the budget efficiently and not scatter resources.
The strategy works to achieve the goals of the company or project:
- a better sales experience is offered and the customer base is expanding;
- sales at the expense of buyers who become regular customers increase;
- fans and brand ambassadors are won;
- ROI on marketing and long-term customer value are improved;
The strategy takes into account how and where people interact with the brand throughout the life cycle. Each company will need its own number of customer touch points depending on the scale of the project. For one organization, it is enough to maintain pages on social networks, send emails, create an informative website, hold promotions and events. A large company needs a marketing strategy that reaches thousands of people, attracts partners, and presents the product on online and offline platforms.
Every stage of the marketing lifecycle needs relevant content. To this end, it is necessary to study what the consumer likes to read and watch, which information platforms he prefers, where he spends more time. For example, people of different ages do not use the same social networks. If the portrait of a potential buyer is compiled correctly, there will be more chances not to miss them and use the advertising budget effectively. Different strategies are used for each stage of the marketing cycle.
Information stage
We not only attract new customers, but also keep regular ones at this stage. They are the ones who spend 67% more than new customers. We actively talk about ourselves on different platforms and use all possible information tools:
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1. We create a portrait of typical representatives of the target audience and content that is suitable for them. |
2. We study and apply the keywords that a potential client uses when searching for a product on the Internet. |
3. We write posts and blogs about the product in such a way that readers would like to share texts, discuss, exchange opinions. |
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4. We create paid and organic product advertising. |
5. We place visual advertising: banners, city lights in those places that are visited by potential customers. |
6. We advertise on podcasts where the target audience come. |
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7. We cooperate with opinion leaders who are listened to by clients and create cross-promotion of content. |
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Engagement stage
The strategy for this stage is to show the potential client that you are the best in your business. They haven't made a decision yet, so they need to get full information. The buyer finds information about the company on the site or on the platform in the social network. It is necessary to create informative and useful content so that the visitor enters the site and stays there:
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1. We develop a web page that makes it clear what steps the client needs to take to make a purchase. |
2. We post a video on how to use the product and what tasks it solves. |
3. We write instructions and algorithms for the client to find answers and overcome difficulties. |
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4. We select statistics, research and industry trends. |
5. Explain why other companies partner with your brand and how you benefit them |
6. We make an email newsletter in which we solve customer issues before they arise. |
Customers love to be contacted personally and 83% expect to receive an immediate response. Communication needs to be set up in all possible messengers, probably with automatic replies. Otherwise, the client will seek for other ways to solve their problems.
Conversion stage
A potential buyer has already stayed on your site and is ready to become a customer. At this stage, it is needed to explain in as simple way as possible which button to click for the conversion. The visitor will compare with others and make a choice in your favor. To implement this, we:
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1. We place the characteristics of the product and its prices on the site. |
2. We collect reviews from real customers, which strengthen the credibility of the product. |
3. We create a demo or a free version of the product in order to increase its credibility. |
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4. We think over how we will support the client after the purchase. |
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Customer retention stage
The customer made a purchase and left the company with their money. Now it is important to keep the buyer. Marketers miss this moment, although according to statistics, 93% of people return to a brand for the second time due to good post-purchase service. We think over how we can be useful to the buyer after the transaction, and implement the continuation of cooperation:
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1. We organize a chat in messengers where people can ask questions about the product and service. People like to do things on their own, but sometimes they need little hints, like how to set up a program or update a gadget. |
2. We will give a discount coupon for a future purchase or offer to become a VIP client. |
3. We talk about new products or services, invite the customer to be the first participant or owner of the novelty. |
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4. We will introduce applications, additional devices to the product. For example, a store program on your phone, a new type of sand for a cat litter box, or a hand massage service for a manicure. |
5. We make an email newsletter about new products, we address the buyer by name. |
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Loyalty Stage
The customer has become your fan and ambassador. They recommend the brand to everyone, make repeat purchases and bring friends with them. Loyalty must be maintained in all possible ways:
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1. We provide club cards, additional features in applications and closed groups. |
2. We give gifts and discounts for product reviews. |
3. Training with experts or instructors. |
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4. We organize programs for partners and mutual advertising in social networks. |
5. We remind customers who have left or haven't interacted with you for a long time about the company and brand |
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People like feeling important and special. A loyalty program creates the right atmosphere and helps to retain brand advocates and attract new customers.
