Brands with successful customer lifecycle marketing strategies in place recognize two simple truths. One, that customers' needs are constantly changing. And, two, that the experiences and interests of different users vary based on where they are in their unique customer journey. The goals of first-time users, for one, are likely to be vastly different than long-time loyalists of a given company's products and services.
But the unfortunate reality is that too many brands still utilize one-size-fits-all, batch-and-blast marketing campaigns to engage with consumers.
If marketing is the process of acquiring new customers and building relationships with them over time, the truth is that many companies focus on the first half—investing heavily in growth and acquisition campaigns, while neglecting retention efforts altogether.
That's an expensive and losing proposition. Acquiring first-time customers on repeat is an easy way to burn through the marketing budget. It's much more efficient to hang onto the customers you've already won over and encourage them to refer their friends and make additional purchases.
After all, the longer customers stick around, the higher their customer lifetime value.
So just what's the secret to effective lifecycle marketing? Successful customer lifecycle marketing requires listening to customers, understanding them deeply, and acting on that understanding in ways that are human and personal.
Let's dive in further to discuss what that looks like step by step and walk through real examples from leading brands who excel at customer lifecycle marketing.