said 1 year, 4 months ago:
Lifecycle Marketing is a portion of CRM that is specific to the steps and decisions the customer is making during the Lifecycle of their conversion from an initial inquiry. While CRM overall encompasses the entire relationship from first inquiry through purchase etc. the Lifecycle Marketing is focused on the decision points. I will admit that not every business may take a Lifecycle into account. For our business specifically we have prospective students we are dealing with and there is a very long Lifecycle from when that individual first calls in for information and by the time they actually apply to the program and enroll. For us this means that opposed to the sole decision of “to purchase or not to purchase” we have a Lifecycle where there are questions asked by the student (Where should I take that course? Where do I go for Financial Aid, etc.) While we provide this information we want to become more preemptive in reaching out.
In the past there has been a lot of letting the prospects come to us when necessary but a huge part of my role is to keep them engaged through the entire process and figure out the specific messaging and strategy for providing necessary information at key points keeping us at the front of our prospect’s mind. With implementing Social Media I have been providing such a wide variety of updates that I would like to be able to drill down and have more prospects enticed to join and follow and to provide the content they find valuable.
Sorry if this is confusing. Coffee is still kicking in this morning so just let me know if you need further explanation.