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A Customer Lifecycle Marketing Guide to Attracting and Retaining Customers

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customer life style

Perhaps you are imagining your customers on a journey with your brand. Instead, what if you imagine them to look like ouroborus: that ancient symbol is a snake eating its own tail.
If that sounds a bit intimidating, it’s not. That means you see your customer experience right as a cycle, rather than constantly struggling to bring new perspectives to your sales and marketing funnel. You retaining customers who buy back many times from your company and thereby deliver increasing value.

You turn your first customer referral date (first purchase) into a long-term satisfying and mutually beneficial relationship with your brand (repeat buyers).

What is customer lifecycle marketing?

Customer cycle marketing (CLM) is an alternative to a single customer buying point of view that ignores the big picture – also known as a traditional sales funnel.

“Customer lifecycle marketing tries to stop the customer from reaching the end of the buyer’s journey and instead, get them to come back and continue to be an active consumer.” – Alexa

The best brands – like Starbucks and Apple – understand that continually investing in their customers is the best way to drive revenue. Starbucks has passionate fans, Apple has evangelizers.

All businesses have a unique customer lifecycle, because every customer is different. Some can be long or short. The goal is to turn one-time customers into repeat customers with focused activity that transforms them throughout the life cycle or retaining customers

As Ometria points out, customer lifecycle marketing is made up of three core elements:

  1. Acquisition – refer customers who are relevant to your brand and bring them to your website or app
  2. Activation  – attract your targeted traffic to convert into customers
  3. Retention  – minimize disruptions and keep customers coming back for more

 

There are several different models for CLM, with older models focusing more on a channel or set of steps. The buyer’s journey is mostly considered sequential, like a book’s plot. Now, it’s about being flexible and realizing that there may not be a customer journey and retaining customers. 

“Good marketers see consumers as complete human beings with all the dimensions that humans actually have,” said Jonah Sachs, the entrepreneur.

Customers move at their own pace. Some buyers will go through the same stage more than once, and some people will miss out on one or more stages altogether. Here is informative ads are used primarily in the growth stage of the product life cycle

Marketo uses the following model:

What are the benefits of Customer Lifecycle Marketing?

There are many benefits to customer lifecycle marketing. Instead of targeting customers with discounts, it’s about opening new avenues for customers to interact with your business – on their own terms. You can more empathize with your customers and engage them by offering value.

You’ll also see lower overall marketing costs and higher marketing revenue. CLM is about improving your long-term profitability by increasing retention rates and fighting off customer leave.

You will also earn yourself more loyal customers who have the potential to become supporters. They will introduce your brand to new customers by word of mouth. In this way, the CLM model becomes a self-sustaining cycle – like ouroboros.

We will now look at each stage of the customer life cycle as the ways of retaining customers

Awareness

Customers cannot become part of your life cycle if they have never even heard of your company. Your first action should be to attract a steady stream of new customers into your life cycle by introducing them to your brand, that is informative ads are used primarily in the growth stage of the product life cycle

This is the stage of mass marketing, building brand awareness, and increasing awareness of your products and services. That was the period when companies traditionally focused heavily on – for very good reason. It is still an important stage, but only part of the overall picture such as retaining customers

Unfortunately, this is the hardest part of the life cycle – where you have to spend the most money to impress a new audience. The prospect may not be familiar with your brand and may not even realize that your product will benefit them.

Your goal is to get potential customers to know your company and its services without having to sell. Here are the methods of attracting and retaining customers, 

Suggestions to encourage customer action:

  • Create an SEO strategy to attract targeted leads who have never heard of your company coming back to your website
  • Create top of the funnel content focused on providing information, addressing potential buyer’s highlights, and positioning your brand as a leader.
  • Invest in paid advertising like search and social media ads, sponsored posts, or influencer marketing
  • Develop an word of mouth marketing program that employs customer advocates as well as retaining customers

Engagement
This next stage is for the prospect to be more active than the realization phase. Although not necessarily a customer, your potential customers want to learn more about your services. This is where you nurture them and provide value.

Customers are looking for channels to interact more with you, such as your social network, your newsletter or company blog. You need to provide a mix of content that customers find interesting or useful, and more direct marketing techniques that can encourage customers to convert that means

During this stage, customers can compare your products with similar products from your competitors. For example, a customer might want to buy an e-reader, but cannot decide between Kobo or Kindle. You must tell them why your product is best for them.

You need to be ready to meet with retaining customers on all channels, including social media. For example, people who shop on multiple channels have 30% more enduring value than people who shop with only one channel.

In another study by Nextiva, 66% of consumers used at least 3 different media channels to engage with your brand. Another statistic highlights the importance of a multi-channel experience.

Suggestions to encourage customer action:

  • Create explainer videos to retaining customers about aspects of your product or industry
  • Automate and extend interactivity with your customers using chatbots. You can create time-on-spot triggers as well as event-based triggers for customer engagement at a personalized level.
  • Use chat marketing via channels like live chat, email marketing, and social media to proactively help customers learn more about your product or service.
  • Offer discounts on first-time purchases or free first-time shipping to encourage customers to convert

Evaluate

This stage is when a prospect bought your product most recently. Your potential customers are actively evaluating your products, reading reviews, comparing you to other brands. This is also the stage where existing customers can be converted back into purchases for ways of retaining customers

It is important to provide retaining customers at this stage to educate potential customers about your product or service, the features you offer, and most importantly the benefits they can expect if Use your business. And these leads don’t have to work hard to get that information. This is where inbound marketing can really grow.

If you’re B2B, this would involve management teams contacting different vendors to assess who has the right features for the best price. If you are B2C, your customers may be looking for free samples or referral offers.

To increase collaboration among your team, pay attention to your communication channels. With complex projects like lifecycle marketing, there are many overlapping tasks that can lead to misunderstanding if not properly managed.

Suggestions to encourage customer action:

  • Create eBooks and keep writing blog posts that nurture leads and help them gauge your brand.
  • Use webinars or recorded video tutorials to show how useful your product or service can be to your intended customers.
  • Take advantage of retargeting campaigns to keep an eye on potential customers who have recently visited your website
  • Compare your products in detail so that retaining customers can judge your products against your competitors
  • Create industry case studies that position your product or service as a solution
  • Use targeted lead magnets to build and segment your email list so you can send email marketing campaigns to your leads
  • Provide social proofs on your website such as customer testimonials and reviews, using a solution like Leadee.ai

Purchase
The buying stage is the most exciting part of your business. This is when a customer is actively buying your product and taking advantage of self-service support such as customer knowledge base, chatbots or live chat.

You probably won’t need much marketing during this particular stage, but instead, assisting the customer in the buying decision process. For example, 23% of customers have abandoned their shopping carts because the checkout process is too complicated.

Instead of pushing more products on sale, you need to facilitate the conversion and ensure that customers have no reason to change their minds. Make sure you provide an easy way for your customers to find answers to any questions themselves, or have a representative ready to immediately answer questions customers have about your product.

Suggestions to encourage customer action:

Create detailed and targeted landing pages that speak to your audience’s hard point

Optimize forms of sale and if you’re into ecommerce, streamline your shopping cart to the checkout process

  • Encourage more customers to convert by building trust in your business through the use of social proof; Recommendations for recent product purchases, testimonials and reviews
  • Take advantage of supportive ads as well as get rid of pop-ups
  • Think about offering a free trial
  • Find ways to help your customers get the most out of your product
  • Having a strong self-service strategy allows customers to answer their questions

After Buying / Retaining / Loyalty

Also known as the growth phase, this is where you can either bundle or add additional products to your existing customers. Selling more over time increases their overall value to your business and that’s why you attract existing customers back throughout the life cycle.

This period is ideal for as long as possible as your buyer becomes a lifetime retaining customers. It’s about the tradeoff between sending out post-marketing material to customers and not contacting them at all. It’s important to make sure that you give them ongoing value so they’ll be persuaded to buy back from you, instead of unsubscribing from your email list.

Your goal is to ensure your retaining customers become repeat buyers by providing exceptional customer service and predicting when they want to buy back from you and what additional products they may need.

Suggestions to encourage customer action:

  • Find ways to segment your audience so you can personalize communication
  • Use in-app messaging, product tours, emails, and knowledge base materials to successfully engage and continue guiding customers to use your product or service
  • Make sure you submit after-purchase tracking surveys and customer care content
  • Be proactive, rather than just reacting, to service and customer support to ensure customer success
  • Find ways to show customer appreciation by touching
  • Submit occasional email marketing campaigns for cross-sell and cross-sell opportunities
  • Rewards loyalty with exclusive promotions and discounts


Advocacy
The advocacy phase is where retaining customers from buyers to promoters of your brand. Loyal, happy customers often want to share your product with others and this is the time for the self-improvement cycle.

Once customers have developed loyalty to your brand, they may be ready to speak up for your brand, products and services. They will help you build new customers through word of mouth. 72% of customers will share a positive experience with six or more people.

That’s why social proof is the secret sauce for your customer lifecycle marketing efforts – for example, 83% of people trust their colleague’s reviews more than advertising. Potential customers are more likely to buy from you when others like them recommend the product and methods of attracting and retaining customers,

Suggestions to encourage customer action:

  • Calculate your NPS® score to help you identify supportive customers
  • Offer bonus promotions for repeat customers such as referral discounts
  • Ask customers to post online reviews of your products to help other retaining customers
  • Develop a loyalty program to reward repeat customers
  • Find ways to encourage customers to create content (UGC) and advertise on their own websites or social media

 

Inconclusion

Hopefully you can now see the value in investing in your existing customers. Not only do they spend more, but ultimately they are also able to bring in new customers and retaining customers

Despite the short-term efforts, customer lifecycle marketing has the potential to become more self-sustaining than traditional approaches. You get more money for your money when you are

Lead generation is not an overnight process. It takes time to find leads and nurture them until leads to sales. Sometimes, you’ll meet with leads who are further down the buyer’s journey and other times, there are those who just aren’t ready to seal the deal.

To discuss this in more detail, please join our Facebook group at  Leadee.ai- Fast Lead Conversion 

You can see more : What is Lead Marketing?

Check more information about tool pop up Leadee.ai to help you increase your sale in a short time at link here:https://leadee.ai/leadflows/

Let’s us know your suggestion by comment below!

Thank you and Best Regard!

Leadee.ai Team

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