What is Lifecycle Marketing?
It’s an all inclusive marketing and sales process designed to generate and retain customers over a period of time so as to maximize revenues.
In other words, it’s everything you do from attracting the right prospects to converting them into customers to turning them into repeat customers and making them lifelong customers.
Most marketers in the internet marketing space don’t realize how powerful lifecycle marketing can be.
Since most of them are too focused on making a sale or two, they tend to miss the bigger picture.
If you really know how to use lifecycle marketing, you can make easily 10X revenues from the same customer base.
Let me first give you an overview of what this is all about and then show you REAL LIFE examples of how it can supercharge your business.
There are basically 3 phases for lifecycle marketing
- The Attraction Phase (Traffic & Lead Generation)
This phase is all about getting in front of your perfect audience through various traffic sources.
The goal is to generate traffic to your site and convert that traffic into email subscribers (leads).
Here’s a quick list of the various traffic sources and the kind of audience you can reach using them:
Search Ads (Google, Youtube, Bing Ads) – Ideal for reaching in front of people who are actively looking for solutions to their problems. Search based traffic generates some of the highest conversion rates.
Social Media Ads (Facebook, Twitter, Instagram Ads) – Ideal for reaching out to communities who are passionate about a topic. If you have a cool dog product to sell, you are better off targeting dog lovers than just waiting for someone to search about your particular product. This is where social media ads can be very powerful.
Email Newsletter Ads (Solo Ads) – Ideal for reaching out to people who have expressed interest in receiving information about a particular topic. You can find newsletters in any niche and strike up a deal with the owner to send out a promotional email. Solo Ads are the go-to source for generating leads in the business opportunity niche.
Banner Ads – Ideal for reaching out to visitors of a particular website. You can contact different websites to place banners on them or you can use the Google Display Network to place your banners on thousands of websites in your niche.
Content Marketing (Blogging, SEO, Article Marketing) – Ideal for reaching out to people who are seeking information. With content marketing, you can educate your audience before asking them to join your list. Leads generated from this method convert very well into sales.
These are pretty much the main ways to generate traffic & leads for your business.
Once you start generating leads you move on to the next phase of lifecycle marketing.
- The Selling Phase (Customer Generation)
This phase is all about turning your leads into customers for the first time.
When you generate traffic and build your email list, you will have several kinds of leads in your list:
Hyper Responsive Leads – These are people who are almost ready to buy and when you get in front of them with the right offer, they will buy instantaneously. A small percentage of your leads will belong to this segment.
Sufficiently Interested Leads – These are people who have an interest in what you have to offer but they are not at a place where they want to buy right away. You need a pretty good follow up process to convert them into customers.
Mildly Interested But Skeptical Leads – These are people who have interest but they don’t trust you or your product at all. A significant portion of your email list will belong to this segment. Most marketers give up on these leads thinking that they won’t convert but in reality, vast majority of your profits will come from these leads when you earn their trust. You need a heavy duty educational and follow up process to convert them into customers. It takes work but the rewards are totally worth it. You can 10X-100X your profits when you turn skeptical prospects into interested buyers.
Casual Uninterested Leads – Majority of the leads in your list belong to this category. They could be casual browsers or lurkers or tire kickers or negative people. You can’t convert these leads into customers. It’s a futile exercise.
If you want to maximize your sales, you need to focus on those who are likely to buy from you.
When it comes to making sales, there are 4 crucial elements you need to have in place:
- Right Product Offer – Even the most hyper responsive audience won’t buy from you if you have a wrong product offer for them. When you put the right product in front of the right people, sales will happen. Without the right offer, nothing else matters.
- Sales Copy – No matter what product or service you have, you need a good sales copy (via text or video) to get people to take action. The strength of the sales copy will determine how fast your business can grow.
- Educational Marketing – Only the most hyper responsive leads will buy your product immediately. You need to incorporate educational marketing to convert the other kinds of leads.
- Closing – For higher priced offers, a sales team may be needed to close the sales and get the deals signed.
Once you generate leads and convert them into customers, you move on the final stage of lifecycle marketing.
- The Retention Phase (Repeat Sales & Profit Maximization)
This phase is all about the process that you need to follow AFTER you make a sale in order to maximize your profits.
There are 3 crucial activities that need to be done in this phase:
- Over Deliver – The purpose of making a sale is not just to make money. It is also to over deliver & wow your customers to create a strong brand which makes subsequent sales much more easier to make.
- Related Product Offers – You need to create marketing campaigns to offer related products to your existing customers. For example, someone buying a traffic course could also be interested in purchasing an email marketing course (which teaches him how to turn his leads into customers). When you have a happy customer and you offer them highly relevant products that can help them get results faster, they will readily buy from you.
- Referrals – When you have great products and you take good care of your customers, the word will soon spread around in your industry and you will get more people buying from you. You can also offer discounts & incentives for referrals or even have an affiliate program for your customers who want to promote your product. This will maximize your sales.
Real Life Example Of Lifecycle Marketing
I have a wide array of products & services to offer to my customers.
Here’s a quick look at some of the offers I promote:
MOBE – It’s a business opportunity program that trains & coaches people on how to build a profitable online business and gives them marketing funnels which they can use to make $1000 – $10,000 commissions per sale. This is an offer owned by my close friend Matt Lloyd. I have made over $3.5 million in the last couple of years promoting MOBE.
Guru Funnels – It’s a program where my team builds out million dollar guru style funnels for our clients so that they can easily promote their products and build a profitable business.
Solo Ads Agency – It’s my traffic agency where we help our clients generate high quality leads by tapping into some of the most exclusive and responsive newsletters in the world.
SHIC – It’s my complete coaching & implementation program where I take my students by hand and teach them how to start, grow and scale a multi million dollar online business. Those who enroll in SHIC also get powerful funnels built for them by my team.
Cashflow Kickstarter – It’s a detailed training course where my students can learn how to generate 1000s of responsive leads and turn them into sales & massive profits by building powerful value based funnels.
I have many more offers but I am just listing out a few to make a point.
Here’s how my lifecycle marketing campaign would look:
Phase 1 – Traffic & Lead Generation
I generate 1000s of leads every day using Youtube Ads, Solo Ads & Banner Ads.
Phase 2 – Sales Conversion
I regularly follow up with my leads using daily emails and conduct frequent webinars to convert them into sales.
So let’s say someone named Bob enrolls in MOBE under me.
Phase 3 – Repeat Sales
MOBE is a great program which can help Bob build a profitable online business. Bob is happy with his MOBE business.
Now I can offer Bob related products & services which can help him speed up his growth while reducing his workload.
I can promote my Guru Funnels program where he can get a powerful funnel built to promote his MOBE business.
I can promote my Solo Ads Agency where he can get high quality traffic for his MOBE business.
I can promote my Cashflow Kickstarter course which can help him get an in-depth explanation on how to build his own funnels.
I can promote my SHIC coaching program if he wants to get personally coached by me and become massively successful like my other students.
As you can see….I have various offers all interlinking with each other designed to maximize my revenues while providing massive value to the end customer.
This is ultimately what is lifecycle marketing.
When you create marketing and sales campaigns to help your different people in your funnel along in their journey, you can make more 10X-100X your and scale your business faster.
My online business might seem intimidating for some but you don’t have to have such a well developed process to succeed.
You can start off by promoting a core product and then offering related affiliate products to your customers and grow your business from there.
The more your business grows, the more solutions you can add to your funnel and the more you can increase your profits.
Just like lifecycle marketing, your own business will go through various phases.
Build it one step at a time and soon you will have a thriving business.
Dedicated To Multiplying Your Income
– Shaqir Hussyin
“On A Mission To Create 100 Millionaires In The Next 3 Years”