Lifecycle email marketing requires a commitment to become a customer-centric company. We’ve all heard the aphorism, “people are your greatest asset”. Perhaps this is still true in some respect. However, the digital era has ushered in a paradigm shift. The aphorism today is, “customers are your greatest asset”.
No matter your business sector, the cost to acquire a new customer is much more expensive, than the cost to satisfy an existing customer. Today, customers have an abundant amount of product or service choices.
If a customer is not satisfied with your product or service, not only will they choose another company, but they’re likely to tell their friends about the disappointing experience via social media, review websites or word-of-mouth.
On the flip side, if they’re satisfied with your product or service, not only will they continue to patronize your company, but they’re likely to refer their friends via social media, review websites or word-of-mouth.
This is why adopting a lifecycle email marketing program is so important to a customer-centric company model….it helps you manage the customer experience. In this blog post, I will delve into the basic components of a lifecycle email marketing program (the marketing principles are the same for B2C and B2B).
A Lifecycle Email Marketing Program
A common objective of all online business models is to create a community of fans, followers, subscribers and customers. This objective is a journey, not a destination. With this in mind, a proven formula for a lifecycle email marketing program that will embark you on a journey of sustainability and profitability is as follows:
According to the Marketing Sherpa Benchmark Report (2013), “63% of marketers are focused on growing their subscriber lists”. List building is a critically important element to all digital marketing programs. There should always be a concerted effort to grow your email subscribers by inviting people to connect with your brand across multiple channels. Offer incentives and add-value for people to subscribe to your list.
A best practice to onboard new subscribers is to send a welcome series of emails spanning 7-10 days. Make a strong first impression, and set the stage for ongoing communications. Welcome each subscriber and set their expectations. Introduce them to your brand experience and ask them to complete their profile. Reward them with relevant offers and product/services incentives.
People hate spam, but subscribers appreciate personalized and relevant brand communications. Personalization and relevancy is an email marketing best practice, but drive revenue by creating loyalty programs and rewarding your subscribers with incentives. Track your abandoned carts by sending follow up emails to subscribers with increased incentives and coupon code offers to close deals. Consistently provide value that turns prospects into customers and brand enthusiasts.
Don’t give up on the unengaged subscriber. Seek to re-engage with customers who have not purchased in a while. Send them targeted promotions and incentives. Be clear about why they are receiving your emails, drive a single conversion by positioning one primary call-to-action.
If you found this blog post useful or would like to add something, please leave your comments below. If you need assistance with creating a lifecycle email marketing program for your business, please email me your questions.
All the best,