Lifecycle marketing is a three-phase framework devised specifically for small businesses to help you transform your sales and marketing activities. It is comprised of basic strategies and tactics integrated into a single, self-sustaining process. Implementing Lifecycle Marketing phases through the affordable, easy-to-use automation technology now available to you puts you in the best position to attract, sell and wow valuable customers.
The 3 Phases of Lifecycle Marketing
The Lifecycle Marketing model provides a simple framework that you can use to attract customers, grow sales and deliver a wowing customer experience. It includes three phases: Attract, Sell and Wow. Each phase is made up of three stages. This post will demystify each of the three phases, and their respective stages.
Phase 1: Attract
Attract is the first phase in the Lifecycle Marketing model. The purpose of this phase is to get the attention of the consumers that you want to buy your products or services. The stages include Target, Attract Interest and Collect Leads.
Target – Getting noticed in this noisy world is critical for the success of your business, but it’s not always easy to get the word out. The best way to get noticed is to start with a narrow focus. Define your ideal target by researching their demographics, attitudes, behaviors, motivations and favorite places to hang out, both online and in person.
Attract Interest– Attract visitors to your website with great content like ebooks, infographics, research reports, webinars, social media and blog posts.
Collect leads – Use a web form that includes special offers, free consultations or premium content to encourage visitors to sign up for your email list.
Phase 2: Sell
Sell is the second phase in the Lifecycle Marketing model. As a small business owner, you must have a strategy in place that makes your product or service the obvious choice when they’re ready to buy. The stages include Educate, Offer and Close.
Educate – Create a consistent campaign of useful information with automated, personalized follow-up messages.
Offer – To determine when to provide an offer you have to understand your target customer’s buying process. The best way to do this is to observe past customers actions and create a buying process map.
Close – Closing the sale involves more than just an exchange of money or signed documents. In a direct sales conversation, the close involves clear communication, good presence and written documentation.
Phase 3: Wow
Wow is the third phase in the Lifecycle Marketing model. Getting started with a Wow strategy involves three key stages: Deliver and Wow, Offer More and Referral.
Deliver and wow – Fulfill your commitments on time, then provide additional value that surprises and delights customers.
Offer more – Develop a long-term strategy, tactics, products and services to help generate additional sales and recurring revenue over time.
Referrals – Encourage referrals by encouraging and creating incentives for customers and partners.
It seems too obvious and easy, right? In fact, on the surface there are no “secrets” in Lifecycle Marketing. Small businesses have known about and practiced these tactics in some form for thousands of years.
The real value of Lifecycle Marketing derives from integrating the individual phases in to a single system — leveraging the interconnectedness and interdependencies of the stages. As the saying goes, the whole is greater than the sum of its parts.
Are you a lifecycle marketer? Do you plan your sales and marketing as a single process, or as a collection of activities?