24 June, 2024

Customer Lifecycle Marketing – What It Is and Why You Need To Incorporate It Into Your Business?

What Is Customer Lifecycle Marketing?

The Customer Lifecycle Marketing method addresses the journey that your customers take throughout their relationship and experience with you. It’s a long-term business goal approach to marketing that more accurately reflects how you engage with your prospects, new customers who join your business for the first time, and also your existing loyal customers.

Which means, this is a business model that brings potential customers into your business through a process from getting their attention, building awareness and interest and where you can qualify these leads, learn about them and what they are likely to buy, and then make a sequence of product and service offers to them that they need and want.

The key difference between what’s commonly labelled “the sales funnel” and Customer Lifecycle Marketing is that instead of filtering a number of prospects until you end with a few who purchase a particular product, the Customer Lifecycle Marketing  model retains all qualified would-be customer leads in order to nurture these customers prospects post-purchase, thought the sales process and further sales at the back end.

This business goal enables your marketing processes to turn more potential leads into new customers and in turn to delight these customers and create repeat buyers and loyal brand advocates who refer you to others and provide reviews and testimonials for your business.

This model then becomes a foremost customer marketing strategy …to create a relationship with your customers which are both personal and long-term.

Why You Need Customer Lifecycle Marketing

There are five key reasons why Customer Lifecycle Marketing is more effective than the traditional sales funnel approach:

  1. Customer Lifecycle Marketing is a deliberate business approach to managing your relationships with your customers that creates an entire journey of experience that a consumer (B2C) and business (B2B) has with your own business from the very first contact, right through to the sales conversion, and beyond to a long-standing partnership.
  2. As opposed to the traditional sales funnel approach, Customer Lifecycle Marketing addresses your audience’s needs from the point of view about what they want as they evolve and change.
  3. You connect with your customers and engage with them at each point in their buying journey.
  4. As a more flexible and holistic approach, it results in greater brand loyalty, customer retention and partnering.
  5. Your customers turn into advocates of your brand, helping you gain even more business through referrals and social proof with case study testimonials.

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