43 Incredible Product Life Cycle Marketing Strategies

The Marketing Life Cycle

There is nothing easy about putting together a marketing strategy, especially if you are operating a small business. The good news is that by following the “Toolbox of the Small Business Marketing Cycle,” the job becomes that much easier. While you might imagine that even the smallest marketing cycle would have a million moving parts, the reality is that it can be broken down into 5 main components, which are as follows:

1. Lead Capture

Some people will stumble upon your website by complete accident and make a purchase, but the vast majority of your sales will come from leads that you have actively pulled into your site. There are a ton of ways to generate those leads, with online forms and landing pages among the most effective. Adding a video to your landing page can increase the conversion rate by a rather staggering amount, proving that online buyers are definitely more visual when it comes to being convinced to part with their money.

2. Customer Management

Once you have a customer in your grasp, you need to hold on tight so that they don’t end up taking their business elsewhere. The average business makes 80% of its sales from customers that are returning for more, which means that not paying attention to their needs can mean a severe hit to your bottom line.

3. Customer Engagement

Not every customer is going to come back on a regular basis to buy from you, but that doesn’t mean they should simply be ignored. One way to keep them interested in your brand is with customer engagement, which means making sure they are entertained and informed regularly. One great way to do this is via social media, where you can post great content, videos, and offers, all of which will bring them running back to your website.

4. Selling/Business Development

A rather alarming amount of consumers now freely admit that they have a complete mistrust of advertising of any kind. This is where a strong development of customer engagement can actually help your cause. If you are active in social media and deliver great content on a regular basis, the customers that you have are more likely to share with the people in their network. The harsh reality is that people are more likely to make a purchase via great word of mouth, as opposed to any type of advertising that you send in their direction.

5. Inbound Marketing/Content

We have already mentioned the value of creating great content, so it really shouldn’t come as a surprise that companies who blog on a daily basis tend to perform much better than those who don’t. The vast majority of internet users still go online in search of information, which can easily be provided with killer content. This helps build trust with the consumer and sets you up as an authority on your chosen niche, assuming of course that the content you deliver is relevant and accurate.