Lifecycle marketing is an all-encompassing process that provides opportunities for lead generation, lead conversion, and eventually the creation of engaged brand advocates from said leads. Each step in the process is customer centric and focuses on efficient relationship building. The objective of lifecycle marketing is to address your customer’s needs and requirements as they move through the customer journey.
The process of lifecycle marketing essentially has four major steps: lead generation, lead nurture, customer service, and promoting customer advocacy. Each element of the process builds upon its preceding step in order to establish and maintain strong relationships. Sustaining an active role throughout the customer journey is essential to turning leads into advocates for your company.
Customer advocates are 50 percent more likely to influence their peers, driving more leads and establishing trust in your company. Today’s infographic, provided by Bluenose, delves into the process of lifecycle marketing and explains how to interact with leads at each phase of the process.
Key points from this infographic include:
- 33% of leads are lost because the salesperson isn’t able to answer questions effectively.
- Following up with leads within 5 minutes increases chances of converting them to customers by 9 times.
- 84% of marketers say that personalization impacts customer retention and loyalty.
- 90% of people trust recommendations from friends.
Let us know what you think:
- How does your process differ?
- Which step in the process do you find most important?
- Which steps are most challenging?