We’re all looking for the same thing: hacks for accomplishing more while doing less. Thankfully a system does exist - it’s called Lifecycle Marketing.
We’re no experts on this strategy, but our friend Georgie Carter (AKA Daily Telegraph 100 Female Entrepreneurs to watch), is. We’re handing this CEO of Pepped the mic so she can tell you the ins and outs for optimizing your eCommerce brand through the power of Lifecycle Marketing.
Prior to founding Pepped, Georgie was the main player on many Pantene and Sensodyne campaigns, as well as helping Houzz (the largest website for home designs), go worldwide, opening up the brand in 14 different countries. So whether you’re an established brand or just starting out, all us will benefit from the knowledge she’s about to drop 💣
🗣️: How can eCommerce businesses effectively measure the success of their lifecycle marketing efforts?
💬 Georgie: In my experience, the best way to effectively measure the success of your lifecycle marketing efforts is by using the following metrics...
Conversion Rate: This metric measures the percentage of website visitors who complete a desired action, such as making a purchase or signing up for a newsletter. A high conversion rate indicates that your marketing efforts are effectively driving customer actions.
Customer Lifetime Value (CLV): CLV is the total amount of revenue a customer is expected to generate over their lifetime with your business. By tracking CLV, you can determine the effectiveness of your customer retention strategies.
Customer Retention Rate: This metric measures the percentage of customers who return to make additional purchases after their initial purchase. A high retention rate indicates that your marketing efforts are effectively engaging and retaining customers.
Average Order Value (AOV): AOV measures the average amount of money a customer spends per order. By increasing AOV, you can maximize revenue per customer.
Net Promoter Score (NPS): NPS measures customer loyalty and satisfaction by asking customers to rate the likelihood that they would recommend your business to others. A high NPS indicates that your marketing efforts are effectively creating loyal customers who are likely to promote your business.
Churn Rate: Churn rate measures the percentage of customers who stop doing business with your company over a given period of time. By tracking churn rate, you can identify areas for improvement in your customer experience and retention strategies.
🗣️: How important is segmentation in eCommerce lifecycle marketing, and what are some effective ways to segment customers?
💬 Georgie: In my view, segmentation is a crucial aspect of eCommerce lifecycle marketing as it allows businesses to target specific groups of customers with personalized messages and offers. Effective ways to segment customers can include:
Demographic Segmentation: This involves segmenting customers based on demographic factors such as age, gender, income, and location.
Behavioural Segmentation: This involves segmenting customers based on their past behaviours, such as purchase history, browsing behaviour, and engagement with marketing campaigns.
Psychographic Segmentation: This involves segmenting customers based on their personality traits, values, and interests.
By segmenting customers in these ways, eCommerce businesses can create targeted marketing campaigns and tailor their messaging to the specific needs and preferences of each segment.
🗣️: How can eCommerce businesses effectively use content marketing as part of their lifecycle marketing strategy?
💬 Georgie: Content marketing can be an effective way to engage customers throughout their lifecycle. Effective ways to use content marketing as part of your eCommerce lifecycle marketing strategy can include:
Creating educational content that addresses common pain points or questions that your customers may have.
Developing blog posts, infographics, and other content that can be shared on social media and email marketing campaigns.
Utilizing user-generated content such as customer reviews and testimonials to showcase social proof and build trust with potential customers.
🗣️: What are some common challenges that eCommerce businesses face when scaling their lifecycle marketing efforts?
💬 Georgie: Scaling eCommerce lifecycle marketing efforts can be challenging due to the following factors:
Data Management: As the volume of customer data grows, it can become challenging to manage and analyze effectively.
Resource Constraints: Scaling lifecycle marketing efforts can require significant investment in resources such as time, personnel, and technology.
Technology Integration: Integrating multiple marketing tools and platforms can be complex and time-consuming.
Customer Fatigue: Customers can become fatigued with excessive marketing messages, which can lead to reduced engagement and loyalty.
In my experience, in order to overcome these challenges, businesses should prioritise data management and invest in marketing automation tools and technologies. It's also essential to create a balanced marketing strategy that utilises multiple channels and engages customers with personalised, relevant messaging.
🗣️: Can you share some examples of eCommerce brands that have successfully implemented Lifecycle Marketing, and what made their approach effective?
💬 Georgie: Sure thing, here are a few examples of eCommerce brands that have successfully implemented lifecycle marketing:
Amazon: Amazon is a prime example of a company that excels at lifecycle marketing. Their personalised recommendations engine is powered by sophisticated algorithms that analyze customer behavior and purchase history to deliver highly targeted product recommendations. Additionally, their email marketing campaigns are highly personalised and targeted based on customer behavior, such as abandoned cart emails and post-purchase follow-up emails.
Dollar Shave Club: Dollar Shave Club is another eCommerce brand that has successfully implemented lifecycle marketing. They offer a subscription-based model for their razors, and they use email marketing campaigns to keep customers engaged and informed throughout the customer journey. Their email campaigns are highly personalised and targeted, and they include helpful tips and advice for customers to get the most out of their subscription.
What makes these brands' approach effective is their ability to use data and analytics to create personalised experiences for their customers. By analysing customer behaviour and preferences, they can deliver highly targeted messaging and offers that resonate with their audience.
🗣️: Can you give us an overview of what Lifecycle Marketing is and how it differs from other marketing strategies?
💬 Georgie: Lifecycle marketing is a customer-focused marketing strategy that aims to engage customers at every stage of their journey, from initial awareness to post-purchase loyalty. The goal is to build long-term relationships with customers by delivering relevant, personalised experiences that meet their needs and expectations.
🗣️: How can we effectively use influencer marketing as part of our lifecycle marketing strategy?
💬 Georgie: Sure thing… With regards to influencer marketing...
Set clear goals: Before starting an influencer marketing campaign, it's important to identify your goals. What do you want to achieve? Are you trying to increase brand awareness, drive sales, or boost engagement? Having clear goals in mind will help you choose the right influencers and develop a strategy that aligns with your objectives.
Identify the right influencers: It's important to work with influencers who align with your brand and target audience. Look for influencers who have a large following in your niche and have an engaged audience. You can also use influencer marketing platforms to find influencers who fit your criteria.
Create compelling content: Once you've identified your influencers, work with them to create content that resonates with your target audience. This could include product reviews, unboxing videos, or tutorials. The key is to create content that is both informative and entertaining.
Track and measure results: It's important to track the results of your influencer marketing campaign to determine its effectiveness. Use tools such as Google Analytics to track website traffic and conversions. You can also track engagement on social media platforms to see how your campaign is performing.
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