Date post: | 08-Sep-2014 |
Category: |
Business |
Upload: | tandem-marketing-consulting |
View: | 404 times |
Download: | 1 times |
Strategic Planning
USING THE CUSTOMER LIFECYCLE FOR
TANDEM MARKETING + CONSULTING www.market ing in tandem.com
THE CUSTOMER LIFECYCLE
The Customer Lifecycle helps us think about marketing efforts in terms of customers’ goals, not the company’s sales objectives.
The Customer Lifecycle moves us from looking at internal processes to focusing on how the marketplace really functions.
Why? Because customers don’t care about your sales funnel…
TWO WORLDS COLL IDE
HOW THE
Customer SEES IT
HOW THE
Business SEES IT
It’s%my%decision!%
It’s%my%sales%funnel!%
THE CUSTOMER LIFECYCLE
The Customer Lifecycle is a framework developed by Forrester to replace the Marketing Funnel.
MOD I F I ED CUSTOMER L I F ECYCLE
It doesn’t quite make sense (to us) to be a fully enclosed circle. Once a customer makes a purchase from you, they never go back to not knowing who you are, right? So we take some creative liberties and use a linear process diagram…
MOD I F I ED CUSTOMER L I F ECYCLE
It doesn’t quite make sense (to us) to be a fully enclosed circle. Once a customer makes a purchase from you, they never go back to not knowing who you are, right? So we take some creative liberties and use a linear process diagram…
DISCOVER EXPLORE BUY ENGAGE
MOD I F I ED CUSTOMER L I F ECYCLE
It doesn’t quite make sense (to us) to be a fully enclosed circle. Once a customer makes a purchase from you, they never go back to not knowing who you are, right? So we take some creative liberties and use a linear process diagram…
DISCOVER EXPLORE BUY ENGAGE
…and we expose the hidden element in the process: Trust!
MOD I F I ED CUSTOMER L I F ECYCLE
It doesn’t quite make sense (to us) to be a fully enclosed circle. Once a customer makes a purchase from you, they never go back to not knowing who you are, right? So we take some creative liberties and use a linear process diagram…
DISCOVER EXPLORE BUY ENGAGE
TRUST
…and we expose the hidden element in the process: Trust!
STRATEG IC PLANN ING W ITH THE CUSTOMER L I F ECYCLE
Great in theory! But, how can we apply the Customer Lifecycle to the real world? One way is to use it as a strategic planning tool. Evaluate your brand’s strengths and weaknesses within each stage of the Customer Lifecycle. The exercise will point you toward where you should focus your marketing efforts.
STRATEG IC PLANN ING W ITH THE CUSTOMER L I F ECYCLE
Ask: Is our brand known? + Are we mentioned in the press for our product category? + Do we participate in key online conversations? On the
right social media channels? + Can our target customers find us? What’s our SERP
ranking for target keywords? + How many new vs. return website visitors do we get?
DISCOVER EXPLORE BUY ENGAGE
STRATEG IC PLANN ING W ITH THE CUSTOMER L I F ECYCLE
Ask: Are we accessible? + How easy is it to demo or preview our product? + Do we provide enough information on our website? Is it in
the right format? + Are we validated by industry influencers or clients’ peers? + How long do website visitors stay on our site? How many
pages do they hit? + How long does it take for a prospect to get in touch with
a company representative?
DISCOVER EXPLORE BUY ENGAGE
STRATEG IC PLANN ING W ITH THE CUSTOMER L I F ECYCLE
Ask: Is our product/service buyable? Note: There are alternative monetization strategies (e.g. freemium models) that can make this question complicated. Think about this stage as where the customer makes a commitment to you, whether or not they pull out their wallet.
+ Do we have clear calls to action? + How efficient is the check out process (or commitment-
making process)? + Is the distribution channel seamless? + How much data do we collect when they buy? Do we
know who are first-time vs. who are returning customers?
DISCOVER EXPLORE BUY ENGAGE
STRATEG IC PLANN ING W ITH THE CUSTOMER L I F ECYCLE
Ask: Are we memorable? + How well does our product experience meet expectations? + What is our customer satisfaction rate? + Do clients recommend us to their network? Do we get new
business through referrals? + How successful are we at upselling? + What’s the lifetime value of a customer? + Do we keep in touch with our client base? How well?
DISCOVER EXPLORE BUY ENGAGE
STRATEG IC PLANN ING W ITH THE CUSTOMER L I F ECYCLE
Ask: Are we consistent? + Looking at all touch points, does our brand look, feel and
sound consistent? + Is our messaging coherent? Does the content in each
phase reflect our value proposition? + Is the customer experience reliable from beginning to end?
DISCOVER EXPLORE BUY ENGAGE
TRUST
STRATEG IC PLANN ING W ITH THE CUSTOMER L I F ECYCLE
If it’s difficult to answer any of the questions because of a lack of data, your strategy should include implementing systems in order to measure and monitor your marketing efforts.
Otherwise, you should now have a clear indication of your marketing priorities.
Weak in the Engage stage? Your strategy should be to improve customer retention.
Low marks in the Explore stage? Consider designing a strategy around prospect education.
STRATEG IC PLANN ING W ITH THE CUSTOMER L I F ECYCLE
Still can’t decide? All things being equal, start at the base and move up-stream:
1. Be consistent – establish your brand foundations and execute flawlessly.
2. Be memorable – don’t lose the clients you fought to win. 3. Be buyable – make it easy for the market to say yes. 4. Be accessible – put your information out there, attract
your ideal customers. 5. Be known – generate brand awareness (this one will be
infinitely easier once you’ve mastered the rest of the lifecycle).
STRATEG IC PLANN ING W ITH THE CUSTOMER L I F ECYCLE
BE KNOWN
BE ACCESSIBLE
BE BUYABLE
BE MEMORABLE
BE CONSISTENT
©"Tandem"Marke,ng"+"Consul,ng"www.marke,ngintandem.com""
NEXT UP :
Stay tuned for a how-to on using the Customer Lifecycle to plan + manage
your marketing tactics.
JOIN OUR EMAIL LIST
©"Tandem"Marke,ng"+"Consul,ng"www.marke,ngintandem.com""