Lifecycle Marketing is a framework for your customers. It’s a process to attract and sell to your ideals customers.
The framework is broken down into four stages and we are going to explain how each stage can work for your business.
You need to capture people’s details. Prospective clients need to be able to signal to you that they are interested in doing business by registering their contact details with you. This could be on your website E.G. your contact us page or fill in your details and download our research paper.
It could be leaving behind a business card at a networking event. However you structure it, capturing people’s contact details is a fundamental part of your business and should have several ways to collect them.
TIP: What could you offer your ideal customers as a gift that would entice them to give their contact details?
Take notice of how other companies are collecting your contacts details. You might be surprised to discover some creative ideas that you could use in your business.
In addition to this, research the people in your industry and find out who is capturing details in a professional and brand-affirming way.
Take these lead-capturing processes and implement them into your Business.
You have leads! Now what… sell?
In theory Yes, but not all leads convert straight away and that’s where ‘Engage’ plays a big role in converting as many leads to sales.
Let’s break this stage down.
The first step is knowing what the average buy cycle is. In other words, how long does it take, on average, to convert leads into sales?
Secondly, how can you help your leads achieve their desired goal(s)? What can your business help them achieve or avoid?
The third stage is to break down your core products into segments. If you look at your core products as a cake and then split the cake into slices, what slice(s) could you offer to your new leads that will help them right now?
We name these slices ‘Products for Leads’ their purpose is to give a low, non-risk, entry point to try your business out. The aim is to give your leads a quick win at either a low cost or at no cost. Engaging and educating your leads this way demonstrates a few characteristics of your business.
One, it shows off your expertise. Two, it proves you have experience delivering solutions to your leads desired results and, three, it’s likely your new leads will try resolving their needs without your help and a high percentage will realise they can’t, or they don’t have time or, they got stuck and they are likely to return asking for your to help. Continuing to provide educating and engaging content will keep you top of mind.
Whatever industry you’re in or whether you’re selling to businesses or consumers. The same rules apply, however the delivery differs.
Give value first by educating, monitor what pieces of content you share and start to tailor your content based on what they engage with, so when it comes to selling, you can offer the right solution at the right time.
Putting all this into action isn’t an overnight job, it takes time, effort and resources. Following the steps above will help you organise content that already exists within your core products.
We find most businesses we work with enjoy this stage of the Lifecycle Marketing Framework the least. Businesses would rather put more effort into marketing or do extra networking then trying to close deals.
‘Sell’ is an important stage of your business, without new customers you won’t have a business for very long.
The ‘Sell’ stage using the Lifecycle Marketing Frameworks makes the selling easier for those of you that prefer not to do much of it or waste time trawling through tire-kickers, or leads that are not ready to buy right now.
For this scenario, I am going to give two examples of how you can implement the ‘sell’ stage into your business. Don’t skip through the examples, as there may be the hidden value you could swipe and adjust to how you sell.
Scenario 1: Sell By Proposals/Quotes
One of our clients, Sunrock Balconies sell to consumers and supply property improvement products. A hot lead to Sunrock is when someone completes their request a quote form on their website or by telephone to a sales rep.
Sunrock Balconies, create quotes based on the details submitted on the request a quote form. Before we implemented Lifecycle Marketing they were using multiple systems to create and send quotes. They also recorded handwritten quotes and manually followed up on quotes that were sent out.
Now, they use one system to store contact details, create and submit quotes. Using Lifecycle Marketing, they now have automated follow up emails that trigger after a quote has been sent, then a customer opens or accepts the quote received.
If you send proposals or quotes, using Lifecycle Marketing you can improve and save time by implementing parts of your sales process so you only work on generally interested hot leads or leads that are ready to buy, right now.
Scenario 2: Sell Products Online
Another of our clients, Triangle Nursery rely on their website to attract and sell to their ideal customers. Their business relies on selling volumes of their product.
To keep up with the consistent sales they use Lifecycle Marketing to connect their software systems and website to keep in front of their new and existing customers. Selling is important, but delivering educational content and matching their products to the content is what helps sell and therefore takes away the pressure of hard selling.
Their business is in a very competitive market and most of its competitors offer discounts to win over new customers.
Lifecycle Marketing plays a big part in how they sell, when and to whom. Every time an order is made, the value of that order and frequency between orders is recorded with their Infusionsoft CRM.
This allows Triangle Nursery to create tailored marketing communications based on what their customers are buying.
If your business sells online or you are thinking about selling products online and want to win sales by offering discounts, there’s a very simple process to implementing the Lifecycle Marketing Framework ‘Sell’ stage into your business to either reducing selling by discount or avoid discounts completely.
By following the scenario mentioned above, think of ways you could better inform/educate or provide value for money and based on how your ideal customer responds/engages with your product(s) that align with the content you have shared.
This is the final stage of the Lifecycle Marketing Framework.
The ‘Wow’ stage is the most underused and we find that most businesses neglect this stage. So many businesses believe that once they convert leads into sales, they go back to the beginning of the Lifecycle Marketing Framework and try attacking new leads to sell to.
Now, there’s nothing wrong with this approach and your business can survive, but it can be massively improved by implementing ‘wow’ into your Customer Journey.
Let me start by giving you our definition of the term ‘wow’.
‘Wow’ – The process you deliver upon a new order made that over-delivers, provides high value for money and turns customers into brand ambassadors.
The Lifecycle Marketing Framework ‘wow’ stage focuses on customer fulfillment and works to eliminate repetitive tasks. It is also one of the most complicated stages to implement. But, don’t be put off by that comment.
If implemented correctly it can improve your business productivity.
One of the more simplistic forms is what we refer to as ‘Customer Welcome’
When a new customer makes a purchase we deliver an automated marketing campaign delivering the first steps to the delivery process. We also use this campaign to set the correct expectation, list who are the key people to contact if the customer has any questions, queries or issues.
To prevent duplicated communications, we have rules in place that stop customers from running through the ‘Welcome Campaign’ more than once. There are many different ways you can implement the ‘Wow’ stage into your business and the example above would be the minimum we recommend.
The ‘Wow’ stage is really to ensure your customers feel loved and feel they have your full attention. They have bought from you as they believe you have the right solution to overcome their pains/frustrations or deliver what they need and want.
If you impress your customer from the outset it will make it much easier to successfully upsell additional solutions and ask for referrals.
The Lifecycle Marketing Framework is your opportunity to improve the customer journey that currently exists today. If you have followed the process above, your business will begin to gain more leads, more conversions, and more productivity.
Download the Lifecycle Marketing Planner
I suggest you go through this blog again and highlight the parts you believe will make the most impact on your business right now. To help with implementation, download our Lifecycle Marketing Planner by clicking here.
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