Lifecycle marketing requires an in-depth understanding of your business’s target consumer and a commitment to working to gain and retain their business. Vektor Strategies uses a proven three-phase lifecycle marketing plan designed to attract, sell to and wow your target audience.
If you try to attract everyone, you’ll end up attracting no one. It’s all too easy to spend a fortune trying to educate consumers about what your business has to offer, only to end up with a small list of customers and a whole lot of wasted money. Defining your target market is essential to marketing to consumers correctly and responsibly.
Now that you know who your customers are, you need to think carefully about where they spend their time. You don’t want to target social media if your target consumers are more likely to be at a Board of Trade meeting. Being where your customers are is essential to connecting with them in an authentic and value-building fashion.
As your efforts become successful, it’s important to collect leads so that you can retain those customers. Some of the best ways to capture leads include providing value, like a free trial or sample, in exchange for contact information. This step is essential to put all of the work you did above to good use.
Offering value is essential to making a sale, and education is an excellent method for attracting attention and turning it into real results. When considering what type of education is appropriate, think about your target audience.
What questions do they have?
What kinds of educational materials would appeal to them?
Making the right offer at the right time is paramount. It’s important to thoroughly examine the purchasing process of your target audience so that you can time things correctly.
What offer is right for your audience to act? When should the offer be extended?
Closing the sale is the culmination of all the work you’ve done to attract and educate your leads. While it isn’t the end of the lifecycle marketing process, it is an important step (and it’s vital to the financial success of your business).
Wowing your audience means delivering more than what you said you would. Instead of providing only the value you promised, taking the initiative to go above and beyond will win you a customer for life.
How can you surprise and delight your customer during the first month following their purchase?
What will your customer be looking for in the future? Offer a long-term experience by cross-selling customers products or services that compliment what they already have. Listen to customer feedback to see what needs they still have and strategize about how you could be the one to fill them.
Happy customers want to give you more business. Asking for referrals, and providing an incentive to your customers for doing so, will complete the lifecycle and allow you to start it over again with a new customer. From small incentives to free credits towards existing services, a rewarding process for securing referrals will grow your business now and in the future.