CRM Hack: Lifecycle Based Campaigns
Watch: How to differentiate your campaigns according to customer lifecycle stages
Customers tend to give their money to companies that treat them well. Companies that nurture and build strong relationships with them. The more customers feel the company “knows them,” the more likely they are to shop with that company. “Knowing” a customer means knowing what products or categories they prefer, how often they purchase, their birthday, past experiences, and so much more.
Positioning your company to be able to cater to their needs is critical. To do this, you can start by unifying your customer data, setting lifecycle stages – and then segmenting your customers according to these stages. Sending out CRM marketing campaigns accordingly is CRM 101 nowadays.
And to keep it simple today, in the video below we’ll focus on three basic lifecycle stages – New, Active, and Churn – and examples of campaigns for each.
From the video:
New Lifecycle Stage
New customers are those who are fairly new to your brand. You want to make sure to keep them with you after that short period of time.
You can do so by sending out a Welcome Email. This kind of campaign has been proven to increase activity without even sending a promotion/offer attached to it.
- Congratulate the customer for joining your brand
- Educate them on your brand/ create brand awareness
- Send them a website tutorial
- Link to a promo page/ bestseller page
- Send them an invite to download your app
- Provide them with customer service details
Active Lifecycle Stage
Active customers are those who are active/engaged with your brand. Your objective with these customers should be totally different than the new ones. The goal here is to increase retention rates and maximize revenue.
For example, you can send out campaigns according to their chances of churning – “risk of churn.”
- Low risk of churn – send upsell/cross-sell campaigns.
- Mid risk of churn – to prevent them from churning, offer them a promotion such as a discount or bonus.
- High risk of churn – send an even stronger offer.
Churn Lifecycle Stage
These customers are defined as those who used to be active but have churned or have left your brand/been absent for a predetermined time.
It is likely that something got them to churn and your goal here is to get them reactivated. You can do so by using your Campaign History to send out Login Campaigns.
For example, with customers who logged in yesterday – hit the iron while it’s hot by sending a campaign with an enhanced offer to take advantage of.
To find out how your brand can generate the best lifecycle based campaigns, contact our Strategic Services team.
Don’t miss out on our previous CRM hacks from Optimove experts: