Lifecycle Marketing: Practice for Building Loyal Customers
Each individual in your audience has different interactions and experiences with your brand. The Lifecycle Marketing Process is the customer's journey from simply being a prospect to a loyal customer. The essence of Lifecycle Marketing is that it communicates at every stage with relevant offers and encourage customers to actively engage with you (1).
Different sources will have different steps for this process, but this one has seemed to be the easiest to understand and most helpful for me. The main goal of Lifecycle Marketing is simply to attract and retain your customers.
Here are the 5 stages to the Lifecycle Marketing Process:
Here is a breakdown of what is involved in each of the stages:
Reach: This is the first and most surface level interaction with your audience. When you "reach" someone that simple means that they saw some of your content or heard of your business in some way. That could be simply scrolling across a post on social media, or having a friend share that they have visited your business.
Acquisition: Acquisition is the process where a business bring a customer from first learning of ones business to becoming a customer reaching the "conversion" stage. This stage is where you teach your audience about your business, how they can benefit from you, and what you have to offer them.
Conversion: Conversion is the stage where the customer completes the desired task. Many times that might be making a purchase from your business but it doesn't have to be. It may include subscribing to your email newsletter, or someone responding to your "call to action" on social media.
Retention: This stage is where you continue to sell to your current customer base. It is a lot easier to sell to someone that has already purchased from your business and shown an interest compared to someone who hasn't yet heard of your business. You want to stay in touch with your current customers and continue to serve them.
Loyalty: Loyalty is the last and most desired stage for your customers. They are the ones most likely to spread the word about your business, comment on your posts, and routinely make purchases from you. Think about the brands that often show up on the top of your newsfeed that you routinely purchase from, and feel like you are apart of the business. You are more than likely a loyal customer to them. A couple of my favorite brands/influencers include Jenna Kutcher, Cassey Ho (Blogilates), and For King & County. All of these people/brands have made me feel connected and special to them in a way, and have served me well before trying to get me to buy from them!
Having an online presence helps you stay in contact with your audience. Do you have social media account or a website for your business? If you don't,I would love to help build a website or improve your social media! Contact me here so we can talk about how I can best help you!