In recent years there has been an increasing focus on building a marketing strategy that is not focused only on acquisition, but rather on the lifetime journey (and value!) of the customer. Pardot partnered with Demand Metric to ask marketers how they are applying a lifecycle marketing approach to their efforts, and to uncover what the most successful companies are doing right.
We think of the customer lifecycle in five stages: Awareness, Consideration, Purchase, Retention, and Advocacy. Our study showed that many companies struggle with with fragmented ownership of each phase, creating inconsistent levels of effort and results.
Here are some trends that emerged:
- Difficulty knowing exactly where a customer is in the lifecycle
- Gaps in phase ownership, with no nurturing taking place at all
- Overlapping ownership, usually due to strategy or technology missteps, resulting in redundant efforts that confuse customers
Let’s take a quick peek at what else we uncovered. Ready for the highlight reel?
Hopefully this next tip is not news to you: customers don’t see their relationship with vendors as a series of fragmented phases. Customers expect seamless, consistent quality across all touch points in their relationships with vendors. A commitment to a customer lifecycle marketing strategy involves strong alignment of the departments that have an ownership stake in the customer lifecycle, ensuring a high level of coordination and communication between owners of each phase to create a consistent customer experience.
According to our survey, only 20% of marketers are using this strategy today. That means those that do have a serious competitive advantage. But if you want to get ahead of the pack, your time to act may be limited. This approach is about to catch fire, with the majority of marketers saying they are planning to up their investment in the customer lifecycle.
Take a deep dive into the data when you download the full research report below.