What Is Lifecycle Marketing, and How Do You Use It?
By Indeed Editorial Team
Published April 25, 2022
The Indeed Editorial Team comprises a diverse and talented team of writers, researchers and subject matter experts equipped with Indeed's data and insights to deliver useful tips to help guide your career journey.
Companies use lifecycle marketing when providing clients with content they appreciate. This requires knowledge of the target audience and regular research to establish an understanding of their priorities and values. By knowing more about this marketing, you can increase sales and increase the company's clientele base. In this article, we discuss the definition of marketing lifecycles, provide you with a list of benefits for this marketing, and share a guide to help you develop a strong marketing strategy.
What is lifecycle marketing?
Lifecycle marketing, otherwise called lifecycle management, refers to the process of providing audiences with communications and interactions that they want and require. This helps transition leads and viewers to customers and advocates. To effectively use lifecycle management, marketing professionals develop an understanding of the industry's target audience. These professionals conduct significant research into both the company's industry and the target audience. Here's a list of the phases associated with these lifecycles and their marketing:
This phase of lifecycle management allows you to develop an understanding of the target audience and to subsequently collect data. To do this, marketing professionals implement initiatives that attract their target audience by identifying specific consumer profiles and targeting them through marketing campaigns. They do this by considering consumer interests, goals, behaviour, and location. They attract their target audience by generating content that considers their interests, like infographics, eBooks, and research reports. Marketing professionals obtain the target audience's attention by offering free consultants and premium content.
This phase of lifecycle management refers to the conversion of the target audience. Conversions refer to the moment in which a targeted recipient of marketing campaigns responds to your call-to-action. When converting a target audience into active consumers, it's essential to consider the goal of your marketing campaigns. This helps you develop a strong marketing campaign. When potential customers are ready to buy products, this phase increases the likelihood of the target audience buying the company's products and services. A primary component of this phase is to engage the target audience with a strong marketing campaign and personalized content.
For example, you can send those who viewed your content a follow-up message that encourages them to buy products. From here, you can offer potential customers a valuable offer depending on their previous transactions. Finally, this phase requires you to close the sale by using clear communication ad persuasive skills.
The last phase of lifecycle management requires companies to fulfill their commitment to customers. If the converted consumers bought products following a marketing campaign and a call-to-action, the expectation is for them to receive their products by a particular delivery date. You can follow up with consumers to ask their opinion of the products, which helps you develop future marketing campaigns.
What are the benefits of strong marketing lifecycles?
Here's a list of the benefits associated with marketing lifecycles:
Improved customer experience
Companies can improve their customers' experience by improving their marketing lifecycles because it prioritizes the interactions between customers and the company. The customer experience is important because it helps companies maintain their sales and develop a stronger clientele. Over time, the expansion of client base provides companies with scaling opportunities because they can develop the financial freedom to expand when they require a larger inventory or storage area. If you want to develop a better experience for consumers, you can benefit from obtaining a clear view of the priorities and objectives of the target clientele.
Data like average household income, values, and career goals can impact sales because these are factors that contribute to the customer's buying habits. You may want to use a customer-focused approach and communicate this as a priority to team members. You can also develop an emotional connection between customers and the organization by sharing marketing campaigns that reflect the values of the clientele.
You can improve the company's sales by converting the target audience into regular customers rather than one-time buyers. This helps ensure that you have a consistent clientele that buys products from your team. To do this, it's beneficial to review the products and services that customers require regularly, along with those that they buy most often. This provides you with a list of products to optimize, along with products for which you can develop strong marketing campaigns. By providing customers with messages and content that considers their needs, you can experience an increase in sales.
Develop brand advocates
When you prioritize content that a target audience wants to see, you can develop a strong list of brand advocates. This has a positive impact on your overall clients and sales because they discuss the company and your team with potential customers, along with those in their network. Developing more brand advocates also informs you of products, marketing campaigns, and qualities that the target audience appreciates.
How to build a strong marketing lifecycle
Here's a step-by-step guide for those who want to build strong marketing lifecycles:
1. Increase overall awareness
If you want to attract more members of the target audience and convert them into regular customers, it's beneficial to discover new ways to increase brand awareness. This requires a strong marketing strategy, along with marketing content that is highly visible. For example, you can benefit from different buyer personas and developing target audiences for each persona. This provides you with the opportunity to develop campaigns for multiple audiences. You can also research keywords that help buyers discover the brand when they search online.
You can write blog posts that answer common questions from the clientele, like how specific products solve the issues they experience. Alternatively, you can also develop billboards and banners that can appeal to the target audience and potential buyers.
2. Obtain more engagement
You can develop a strong marketing lifecycle by implementing strategies to improve engagement with the target audience. For example, you can develop landing pages that are accessible for a range of target audiences by creating tools that allow visually impaired customers to experience the products. It's also beneficial to develop videos that showcase various product features. Some marketing professionals also use case studies to highlight the benefits of using the company's products.
3. Improve conversions
When you obtain the attention of a potential buyer, you can then transition them into a customer. To do this, consider easily accessible methods for the potential buyer to access products and decide to buy. For example, you may want to consider your existing pricing models and establish clear strategies that allow customers to compare prices to alternative rates. It's also beneficial to share the testimonials of previous customers to showcase the positive experiences of previous customers, which helps build trust between the company and prospective buyers. You can also review your customer service strategies and implement post-purchase support.
For example, some companies conduct follow-ups with clients to obtain information about how they experienced the company's purchasing process, along with how the customer feels about the product after receiving it. This provides you with the opportunity to provide customers with solutions for potential issues they encountered.
4. Establish retention
Following the purchase of products, you may want to consider whether customers continue to buy a company's products. To improve customer retention, you can implement support systems for customers. For example, you can establish life chats, along with messaging and FAQ pages. It's also beneficial to provide new customers with discount codes for future purchases to encourage them to buy more products.
If you have new products releasing, you can offer customers first access to those products to increase sales. Some companies also send consumers emails to provide them with updates about company improvements, new products, discounts, and changes to existing products.
5. Promote loyalty
You can promote customer loyalty by establishing strong brand and marketing techniques. You may want to implement loyalty memberships or clubs, along with incentives for those who share their experiences. It's beneficial to establish webinars that customers can attend to develop their knowledge, skills, and to ask questions about company products. To do this, you may invite an industry expert to lead the webinar. You can also establish a referral program that provides benefits to those who refer the company or products to those within their network.
Some marketing professionals use social media features to improve overall brand awareness for companies. If you have customers who haven't bought products in a significant amount of time, you can also send them emails to offer them discounts or other incentives. Alternatively, you can develop campaigns for those who may want to reactivate their account.
Explore more articles
- What Is Warehouse Automation and How Does It Work?
- What is Omnichannel Retailing? (With Definition and Examples)
- How to Be a Storyteller (With Steps and Career Paths)
- What Is the Return of Equity Formula? (With Example)
- A Comprehensive Guide to Feedback Formats (Types and Tips)
- What Is a Project Template? (And Why They're Important)
- What Is Hoshin Kanri? (Definition, How-to Guide, and Tips)
- What Is RPA? (With Benefits and Areas of Application)
- Important Strategies for Project Execution (With Vital Tips)
- 11 Tips for Overcoming Work Distractions (With Importance)
- How to Turn Your Great Idea into a Product (With FAQs)
- 14 Life Science Careers (With Salaries and Primary Duties)