How to Utilize Lifecycle Marketing
Lifecycle Marketing can Deliver the Right Message at the Right Time!
You, as a marketer, are aware of the thousands of e-mails that companies send out according to the various seasons of the year. As the winter months near, there are a slew of promotions for winter apparel, home heating and everything related to the holiday season. Come spring, consumers’ inboxes bloat with offers for patio furniture, grills and air conditioners. These companies are targeting groups of products to coincide with seasons and holidays.
Lifecycle marketing is similar. Not only are you using big data as a means to strategize delivering the right message, product and offer at just the right time, it’s also recognizing the stage in which the customer is with the brand or lifecycle of the product itself. If a customer is an avid runner and purchases a pair of sneakers, more than likely, they’ll need a new pair 6-12 months down the road. It’s knowing that when a customer purchases a mobile phone, they’ll probably be looking to upgrade and exchange towards the end of the second year.
One of the “don’ts” in marketing personalization is treating everyone the same despite interests and lifecycle changes. That would be like trying to sell an air conditioning unit three days before a major blizzard is about to hit. It’s not happening.
Placing the right products and offers on the table at the right time increases your chance of customer loyalty and increasing your revenue. There’s a narrow margin of “make it or break it.” If a customer purchases a new mobile phone you wouldn’t try to sell them a new one several months down the road. What do customers purchase for their phones throughout that timespan? If you guessed accessories, you’re right.
A lifecycle can range anywhere from somewhat long term to short term. Jill and Bob announced they’re having a baby and the due date is months away. This widens the margin for email marketing and allows you to send various products and offers relevant to the stages of pregnancy, preparation and beyond. On the other hand, if John is showing interest in asking Jane for her hand in marriage, the margin is narrow. Got a great deal on engagement rings? Well, now is the time to send it. NectarOM’s suite automates the content based on the customer and product lifecycle so you know what products and offers to bring forth at just the right time.
You can request a demo through our website to see how Nectar’s products can best serve your needs.