In my world it is often difficult to talk about strategy and technology separately because they are so intertwined. Maybe that is true more than I realize but that is a topic for another day.
The Lifecycle Marketing model provides a simple framework attract customers, grow sales and deliver a wowing customer experience. It includes three phases: Attract, Sell and Wow.
The 3 Stages of the Attract Phase
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, videos, 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.
The 3 Stages of the Sell Phase
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.
The 3 Stages of the Wow Phase
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 into a single system — and a technology platform to make it all work.