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Lifecycle Marketing:What are lifecycle stages & campaigns that work

#lifecy-clemktg

Today’s speakers

Ryan LeeClient Success Manager

Retention Science

Tracy RandallFormer CEO & Co-Founder

Cooking.com

“80% of your company’s future revenue will come from just 20% of

your existing customer base”

Agenda

1.What is lifecycle marketing?

2.Stages of the customer lifecycle

3.How to segment your customers

4.Campaigns for each stage

5.Optimizing your campaigns

-Gartner Group#lifecy-clemktg

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What is Lifecycle Marketing?

Lifecycle Marketing is…

A customer goes through different stages during the time they are engaged with your company.

Successful Lifecycle Marketing uses data science to profile and predict when customers hit critical points in their lifecycles and takes these factors into consideration to create captivating marketing campaigns: level of engagement, frequency of purchases, and predicted lifetime value.

#lifecy-clemktg

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Lifecycle Marketing Stages

Lifecycle Stages Overview

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How to Segment Customers

Traditional vs. New Segmentation

Traditional

• Demographics: age, gender, location, registration source

• CLV – Customer Lifetime Value

• RFM – Recency, Frequency, Monetary Value

• Discounts vs. non-discount

• Email activity

Newer

• Predictive demographics based on user behavior

• CFV – Customer Future Value

• Churn Status – Ready to Buy, At Risk, Churned

• Discount optimization

• Multi-channel activity #lifecy-clemktg

Assigning segments to stages

• What are the signs you should look for?• Common customer attributes (sign up date)• Purchase history (frequency, last purchase date)• Top sellers: products or categories• Recent activity (last login)• Customer Lifetime Value

• How Retention Science segments using data science• User-to-user personas• Churn status: Ready to Buy, At Risk, & Churned• Product affinity: i.e. item-to-item / user-to-item• Multi-dimensional customer activity• Customer Future Value

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Campaigns & Optimization

Engagement Stage:Welcome Series

Send to new subscribers and customers who have made their first purchase and were not already on your list.

• 3 - 4 emails• Sent over 7 - 10 days• First email should be triggered upon

sign upThe Honest Company

Welcome Email

Optimizing Your Welcome Series

• Introduce brand values

• Testimonials and reviews

• Social media engagement

• Product categories

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Retention Stage:Activation Series

Sent out to customers who have completed a first purchase and subscribers who have signed up for a free trial offer, but have not converted into a paying customer.

• 4 – 6 emails• Sent over 10 – 14 days• Sent after first transaction or toward

end of trial period.The Honest Company

Activation Email

Optimizing Your Activation Series

• First offer email

• The offer sequence

• Personalized product recommendations

#lifecy-clemktg

Recovery Stage:Win-Back Series

These emails are sent to customers who are at risk of churning or who have already churned.

• 4 – 5 emails• Sent over 30 days

Dollar Shave ClubWin-Back Email

Optimizing Your Win-Back Series

• “We miss you” email

• Win-back offer

• Reminder email

• Plain text email

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Advocacy Stage:Reward Series

These emails go out to high-value customers who continually purchase, loyal customers who are influencers in social media or other areas, and brand advocates that promote your brand and spread the word.

• 3 emails• Sent over 90 days

StarbucksReward Email

Optimizing Your Advocacy Series

• Thank You incentive

• Anniversary email

• Exclusive sales & events

#lifecy-clemktg

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Recap

Recap:• Two main ways to segment customers:

• Traditional & New (Data Science)

• Lifecycle Marketing Stages:• Engagement – Welcome Series• Retention – Activation Series• Recovery – Win-Back• Advocacy – Loyalty Emails

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Questions?

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