Mobile Lifecycle Marketing is a topic that we are all deeply invested in – marketeers, product people and techies. Within the last couple of years, the explosion in the number of apps on the market has made paying attention to the entire lifecycle absolutely essential when it comes to customer retention, increasing your Return on Investment (ROI), or your Customer Lifetime Value (CLV). Although, we all know that Lifecycle Marketing can be the answer to all those challenges. Not to mention the decision to start doing it, does sound like a no brainer. The starting point, however, can actually be quite complex.
Let me give you a quick explanation on the technicalities: Value-based Lifecycle Marketing in Mobile is a combination of technology, econometrics, typical marketing efforts and your brand of course.
Or in other words, it means that within your product range, you have a technical framework that provides you with data, events and a wide range of possibilities. Then there is the marketing that gives all of the data a clear frame, a playground, so to speak, and a goal. How this looks depends on your business and your monetization model. Those two aspects are becoming ever more intertwingled with the help of the third aspect in our model – econometrics. Econometrics helps us to gain smart insights about your products and business performance and the results of your marketing efforts reflected in your audience’s behavior. Lifecycle Marketing builds up on your product efforts to reach your business’ goals and takes it to the next level – all in the name of your brand.
That being said, you should know that one cannot perform without the other. That is why, when we start thinking about lifecycle marketing for a new company, we bring all of those aspects together. We like to gain a holistic view on our possibilities and challenges, so we know how we can reach your goals for you.
But before I jump in and go on about the details of our process, I’d like to share our mindset. Our conceptual approach relies on a clear and simple agenda, as we want to have a conversation with your customers, rather than sending one way messages.
Marketing in Mobile can be so many things and mostly it is sending out single messages, set up to increase conversions around a particular point in your product. And I am not saying that this is wrong, or that we don’t do that. Because we do! But at 360dialog all of those single messages come in a big package. A master plan of the entire customer journey. The plan to increase each of your customers CLV, by building up a relationship with every single one of them, personally.
So instead of only focusing on short term conversions, we plan and monitor over the entire lifecycle, measure reactions and build upon recent conversations. This lets you see how your marketing activities positively affect your customers behavior in the short and in the long run. From a simple dialog to an entire conversation.
So, finally you might be asking yourself, how are they planning on doing this? What does the process look like for us?
We basically start of with getting an overview of everything that is already there. We want to understand your brand promise, your USP, the benefits of your product or services offered to your customers and how you are making money with it. ; ) We take each of these aspects in isolation, examine them carefully and then bring them into context. This workflow allows us to fully understand what and when we can offer something to your customer and, based on each customer’s specifics, also where. The timing, the channel and the tonality can be completely different within in each campaign, due to former behavior, preferred channels and expectations towards your product.
Millennials can be reached almost everywhere; they are much more open when it comes to newer channels, more willing to take the plunge, or to just have fun with your marketing: You could set-up a multi-step campaign where you convert web users to app users with a web push. Then, follow up with an in-app once they have installed and let them talk about it in a chat.
While this is a rather new and exciting campaign workflow, you might prefer sticking to established methods for your older customers. How about sending them a webpush while they are working on their computer, followed by a good old email, for deeper research. And then just bring them back to your offer with another well timed webpush, leading them to the POS.
And I know these example target groups are pretty cliché, but it made my point. Right?
After gathering all of this knowledge, which is very valuable for us and a real eye opener for most of the companies too, we are then ready to build a bigger and better system. This system requires steps, phases and goals…. you are right when you think what I am talking about is the Lifecycle Model…it is! This model not only helps us to see each and every step that a customer is taking during his experience with your brand. It also makes all of the baseline data, our ideas and the potential visible.
Having a clear understanding of what your opportunities are, enables you to make the best decisions for your business, the biggest impact with preferably the smallest effort. When you have made it through that process you are ready to start the conversation. To the right person, over the unique lifecycle, at the right moment, on the right channel, with the right offer.
If this article made you curious, feel free to shoot me an email for a little chat or request a case study to see how we have helped similar companies achieve their goals.