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August 05, 2015

Lifecycle Marketing : : What It Is & Why You Should Be Doing It

customer_loyaltyHow much money are you leaving on the table by not having a solid plan in place for every step of a customer’s lifecycle? You could be missing out on opportunities to generate new leads, upsell, resell and build lifetime relationships with customers.

Lifecycle marketing is about addressing your customers’ needs as they evolve over time. Using this approach, you can move away from the “one-and-done” approach to marketing, and take advantage of opportunities to generate revenue from existing customers. It’s about building relationships, providing value and reaching your audiences at the appropriate time.

Lifecycle marketing will help you drive more traffic to your business, create better qualified leads, convert prospects into customers at a higher rate and help maintain long and profitable relationships with them.

Whether you’re B2B or B2C, lifecycle marketing is a great way to get the most from your marketing efforts and build great relationships with  your past, present and future customers.

Lifecycle-Mkg-Stat

In order for your business to grow, it’s important to utilize all four stages of lifecycle marketing – don’t just leave your current customers behind once they’ve purchased. According to Marketing Metrics, the probability of selling to an existing customer is 60 – 70%. 

Stages of Lifecycle Marketing

  • Generate new leads – Leads are the sustenance of any business. Lead generation strategies are what keep your sales funnel full of prospects.
  • Convert prospects – Convert leads into valuable new customers.
  • Build customer loyalty – In order to achieve repeat customers and brand loyalty you must to continue to impress your customers.
  • Reactivate lost customers – Help build rapport and convince your lost customers to buy from you again.

Lifecycle marketing can grow your business. So why not try it out?

Download our Lifecycle Marketing Workbook to help you define the sales lifecycle of your current and future customers.

Download_lifecycle_marketing_workbook

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