The Phases of Lifecycle Marketing for Customer Acquisition and Retention
May 10, 2017
Potential customers are all in different stages of the buying lifecycle and to convert them quickly requires the marketer to understand where they are in the lifecycle. Through that understanding, the marketer can tailor the marketing message, timing and frequency for the quickest possible close.
The process of generating qualified leads during the lifecycle marketing process involves 3 phases: Attract, Delight and Sell, to valuable customers. Therefore lifecycle marketing is a framework formulated to assist in implementing your business marketing activities.
Lifecycle marketing is part of various phases of customer experience until customer acquisition, this includes Attract, Delight and Sell.
The importance of lifecycle marketing is to streamline the process of continuously acquiring and retaining customers through a marketing automation platform such as HubSpot.
1. Attract phase
This is the first phase within lifecycle marketing, this is to create attention from desired leads. To attract desired customers it is important to:
- Define the targeted customers: this is through researching the audience by defining the demographic and psychographic segmentation.
- Multichannel platform: Use the various platforms suitable for the business to attract and drive the traffic to the website.
2. Delight phase
The delight phase involves attracting customers and collecting their information to engage and encourage them to convert to become a sales qualified lead (SQL)
- Attract customers: Attract customers to your website with great offers (ie. eBook, infographics) and content.
- Educate customers: this is through automated marketing platforms by consistently engaging the leads with information and conducting follow-ups.
3. Sell phase
The sell phase deals with the execution of selling your business services or products to the customers by educating them and closing the sale.
- Collect leads: through a marketing automation platform, use forms to collect leads information to encourage and engage with the leads to convert.
- Close sale: this involves clear communication and understanding on the deliverables of the offers. Provide additional value to delight
The process of acquiring and retaining customers entails continuous engagement with the potential customers with the objective being to attract, delight and sell the service or products. This also contributes to the customer experience. Lifecycle marketing streamlines the various phases into a single system within the inbound marketing methodology.