Main Components of the Customer Life Cycle
Lifecycle marketing is a marketing method that works to generate leads through a slow introduction process to create a more natural flow. Many marketing teams currently use the bomb-blast method, creating friction amongst their audiences. Lifecycle marketing, on the other hand, promotes engagement and will raise your conversion rates and the effectiveness of your lead nurturing.
Lead Generation and Conversion
• 76% of CMOs have described finding high quality leads as their most challenging goal.
• 64% of CMOs have reported that they do not have a marketing automation system.
• 50% of qualified leads need more time before making a purchase.
• 40% of leads make their first purchase within the first 18 months.
• 38% of leads shift from the initial inquiry stage to the purchasing stage.
• The length of the average sales cycle has increased by 22% over the last 5 years.
Lead Nurturing and Engagement
• 83% of marketers understand the potential value of lead nurturing.
• 50% of sales-ready leads are produced by companies that work to nurture their leads at a 33% lower cost.
• On average, nurtured leads make purchases that are 47% larger.
• According to Forrester Research, 46% of marketers that have developed a mature lead management process contain sales teams that follow up with over 75% of their leads.
• Companies that nurtured their leads found a 20% increase in sales opportunity.
Automation and ROI
• Companies that use data collected from email, web analytics, and e-commerce raise their conversion rates over 100%
• 58% of companies that do not currently have a lifecycle email marketing strategy are working to have one within the next two years.
• 46% of companies currently have an automation system in place that is event-triggered.
• Businesses that set an automation system in place see a lead increase of 45%.
• 32% of marketers that utilize an automation system were satisfied with their leads, as compared to only 16% of marketers that do not.
• A 14% improvement in click-through rates is seen by companies that send out personalized emails.
• 64% of CMOs do not have a set process to manage their marketing automation.
• 50% of surveyed companies were unaware of the benefits of marketing automation and less than 25% knew how to use them to their full potential.
• 25% of marketers are oblivious to measuring their return on marketing investments.
Forecast of the Marketing Automation Future
• By 2020, non-human communication will account for 85% of customer relationships.
• 70% of customers have interaction preferences that are directly affected by their lifecycle stage.
Lifecycle marketing is all about creating engaged relationships. Learn to nurture your leads through an automation system in order to receive your full potential conversion rates and sales. A customer that has been introduced to your brand over time is more likely to participate with your brand and make purchases.