As a customer, we expect businesses to email us if there’s anything we need to know, whether it’s a sale or a new product release. Our favourite musicians don’t call us about their new summer tour, nor do local restaurants text us with their new menu – they email us. It’s all about email. It’s the standard!
Email marketing is a vibrant and powerful way to connect with the people we want to do business with and is still the most cost-effective and fastest form of direct communication to the masses. We can help you to provide increased value to, and more revenue from your customers.
The Different Types Of Customers
When you look through your website analytics you will notice a regular metric that never really changes. This is the New and Repeat Customer metric. One of them has yet to experience your service whereas the other has already made a purchase so they have to be segmented and treated differently.
When new visitors enter your website for the first time they will probably be in the ‘RESEARCH PHASE’ of the buying process, finding more information about your products. At this point, they may not have the intention to make a purchase so we need to give them confidence in your brand and encourage them to provide us with their details so we can keep in touch and remarket to them while they move from this stage to the purchase stage.
Existing customers have already experienced your service and as long as that experience was positive it’s easier to make a repeat sale. These types of customers may be interested in offers or something else that adds value so the message needs to be different.
The Customer Life Cycle Model
There are different stages in the customer life cycle and there are various methods to define them. Creating an email marketing strategy is essential to provide a ‘customer life cycle model’. It begins by capturing the attention of prospects demonstrating that they have a need for what is on offer and are willing to invest money to solve their problem. The email marketing continues by developing a sales funnels that nurture the best customers, filtering out mismatches and refining the specific target customer. Here are the different stages.
- Reach – Trying to get the attention of the people we want to reach.
- Acquisition – Attracting and bringing the reached person into the influence sphere of our company.
- Conversion – When the people we reach or have a more established relationship with, decide to buy something from us.
- Retention – Trying to keep the customers and trying to sell them more (cross-selling, up-selling).
- Loyalty – We would like the customer to become more than a customer: a loyal partner and even a ‘brand advocate’.
Your customers will currently be in different parts of the life cycle but maybe inactive as there is little in the way of ongoing communications. This is where our life cycle model comes in to play. Working together we can develop an effective email strategy that re-engages your existing customers and engages new visitors, encouraging them to subscribe. As the life cycle of an existing customer ends, as it inevitably does, new customers will be joining the life cycle and start their journey with your company.