Lifecycle Marketing: Conquering Customer Engagement

Apurva Pathak | July 5, 2022 | 446 views | Read Time : 03:00 min

Lifecycle Marketing
Marketers know it's rare to capture a customer's attention on the first brand encounter. Customer loyalty takes time, thought, and brand trust.

What if your marketing strategy included all these elements and more? Lifecycle marketing boosts customer engagement, revenue, and brand growth.

Lifecycle Marketing at a Glance

Lifecycle marketing is a set of strategies that a company uses to positively influence customers as they move from one point in the marketing cycle to the next.

Stages of Lifecycle Marketing

A brand’s lifecycle can be short, like Nespresso’s, or long, like Mercedes’. Both have the same goal: to win over a customer and keep them coming back.

Stages of a lifecycle marketing plan:
  • Awareness
Prospects learn about your company. This is where you can catch their attention and reel them in to the next stage.

  • Engagement
Prospects begin interacting with your brand. They want to learn about your offerings through different channels like email, websites, and social media.

  • Evaluation
Here you provide your prospects with information on your product or service so they can move towards making a purchase decision.

  • Purchase
Your prospect buys your product or services and becomes a customer. Ensure that you make the purchase experience simple.

  • Support
After-sales service is crucial for maintaining your brand’s reputation. At this stage, make sure your customers are satisfied with your product through excellent customer service.

  • Loyalty
Your customers become your brand ambassadors and promote your product to their contacts.

What Does Lifecycle Marketing Do for Your Business?

  • Helps grow your customer base through elevated customer experience
  • Improves sales by turning a one-time buyer into a returning customer
  • Turns customers into brand advocates who promote and vouch for your brand
  • Improves marketing ROI and lifetime customer value (LCV)

Spotlight

TDA Group

TDA Group is Silicon Valley’s premier B2B content marketing agency for high tech. TDA plans, creates, and manages content marketing programs that help maximize the return on marketing investments and accelerate sales.

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Fundamentals of Distribution Marketing

Article | January 24, 2022

Are you looking to expand into new markets, boost your sales pipeline, and increase conversions? Whatever your business growth objectives are, a distribution partnership is your answer to all of them. Why are distributors becoming a vital component of business expansion strategies and what is the importance of distribution in marketing? Let us take a look. Distribution Marketing Channels: Achieving More with Distribution Partners The process of making a product or service available to a consumer through a direct channel such as a manufacturer or an indirect channel such as a distributor constitutes a distribution marketing strategy. B2B marketers decide on which type of distributor channel they want to use based on their product and the revenue targets they have in mind. Global suppliers have eroded margins and created an explosion of products catering to even the tiniest market niches. They have disrupted local markets. Consequently, sophisticated logistical systems have been developed to shorten delivery times. Businesses have expanded their distribution network to get closer to their B2B clients. The following statistic says a lot about why B2B businesses are keen to embrace distribution marketing and develop their indirect distribution network. 75% of the world’s commerce is transacted indirectly, meaning goods are sold through distribution channels. (Source: Forrester) In this article, we will be focusing on distribution partners, as channels of distribution marketing, and how they are creating a foundation for businesses like yours to expand and grow while helping you bring your products to your target customers. Distribution Marketing Strategy: Types of Strategies & Things to Consider B2B businesses embrace a new channel of distribution marketing or improve their existing one based on their marketing and management requirements. You can consider going down the same road if you have a new customer segment in mind, are planning to release a new product or want to aggressively grow your revenue. Here are the broad types of distribution in marketing: Direct channel: A direct sales channel is any company or manufacturer that creates its product and sells it directly to customers without the involvement of third parties or intermediaries. The product is sold through a shop, online channels, door-to-door or through any other method. Indirect channel: An indirect sales channel is comprised of—distributors, wholesalers, retailers, and VARs (value-added resellers)—who sell products made by other companies. At times, there may be more than one middleman between the consumer and the product’s producer. Apart from these two main strategies, there are other specialized strategies that fall under these categories, like exclusive distribution, intensive distribution, selective distribution, dual distribution, and reverse distribution. Of these strategies, manufacturers use the product distribution strategy that suits their product and revenue goals the most. Consider the following factors when planning your distribution strategy in marketing: The Type of Product You Sell Your distribution channel marketing strategy should depend on the type of product. Purchase decisions that customers make are classified into three types: routine, limited, and extensive, based on the number of times businesses buy a product, its cost, and the time taken by the customer to make a purchase decision. Capitalize on this information and decide on the strategy that will work best to position your product. Customer Base Based on the types of purchase methods that your target demographic may use, where they make their purchase decisions, and what kind of technology influences them, you need to choose your distributor. Ensuring that your customer base gets access to your product based on its preference is crucial to attracting customers to make a purchase. Logistics and Transportation Whether you sell a software product to streamline business processes or spare parts that automobile businesses require, your product needs to reach your end user safely and on time from locations where your distributor stores it. Understanding a prospective distributor’s logistics and transportation capabilities should be a priority while finalizing a distribution strategy in marketing. Focus on cost-saving and increasing revenue while choosing your distributor. A Strong Game Plan & Bigger Market Reach with Distribution Partners Product, place, price, and promotion are the four Ps of marketing. A B2B company cannot successfully sell its product or service unless it determines its four Ps. This is where distribution comes in. It is the ‘place’ part of every marketing strategy. Distributors are channel partners who are experts at getting your products into as many markets as possible as quickly as possible so that they can be used by end customers. There are tactical and logical advantages to having a strong distribution partner network. Let us explore them in brief. You Can Focus on Your Expertise Your expertise lies in creating the product. Setting up a sales system to facilitate end customers doesn’t categorically fit your skillset. With the help of a good distribution partner, you can limit your sales risk and use your time and resources to make your manufacturing processes and techniques more efficient. Streamline Market Expansion Selling to a new geographical market with the help of a distribution channel partner who has an established retail network can instantly get you more leads and boost your sales. Especially when entering a new international market, you can trust your distribution partner to take care of international trade law compliance, shipping and customs laws, and the culture of the new market. Limited Involvement in Customer Service Distribution marketing reduces your involvement and investment in customer service considerably. All you need to do is be in touch with your distributor partner. You don’t have to think about exercising administrative duties and investing in operations because your distributor will be your face while dealing with end customers. Distribution Partners Fire-up Your GTM Strategy In your go-to-market strategy (GTM), your distribution partners can market your product to large numbers of geographically dispersed customers. Distributors, especially VARs customize your product and complement it with prompt support and specialist services. Here’s how you can go-to-market confidently with the help of distribution partners: After you segment your target market into customers and prospects, identify which of these segments you can reach with the help of distributors. They can utilize their customer base to get you sales in territories with good sales potential. Distributors with experience can cover the market sectors you want to target. Choose distributors who do not market products that compete with yours. To get the most out of the channel partnership, describe the market opportunities for the distributors and talk to them about what you expect and what you need from them. Decide on whether you want to share marketing rights with distributors. Create solid and binding commercial terms such as stock levels, discounts, selling prices, and marketing support beforehand so the distributors are motivated to give their best to sell your product. Distributors develop sales and marketing plans, provide support in the form of marketing collateral, funds, or marketing campaigns. To support their efforts, run marketing campaigns that target your customers and promote your distributor network. Communicate the advantages of buying from your authorized distributors so that you can create and maintain sales leads for your entire distributor network to make your GTM a success. Distribution Management: Refining Distribution Partner Performance Just as it is important to set up a distribution network, it is also important to manage it, optimize it through consistent efforts, and make sure it is a smooth-functioning ecosystem. Managing distribution businesses can empower your distribution teams to manage distributors and the way they sell your product. They can also enable partners to do more for the sales. Distribution management can be streamlined using a distribution management system (DMS). With the help of the following features, this platform helps you run your distribution network well: Partner Recruitment Easily deploy partner recruitment campaigns through single or multiple distributors. Target specific groups of partners through these campaigns to get them involved. Partner Onboarding Help your distribution partners bring on channel partners for short-term channel programs with high returns and low costs. Partner Training Enhance partner competency and development using partner training through the DMS system. Pipeline Management Keep track of how each distributor contributes to your pipeline growth and engage with distributors to increase revenue. Partner Enablement Use your distribution partners to drive multi-partner demand generation activities with co-branded content that your channel marketing teams create. Partner Incentives Deploy partner incentives to motivate distributors and partners they manage. Review their performance and approve their claims. Performance Optimization Get insights into how distribution partners are selling through business analytics and reports so you can accelerate sales, and in turn, boost your revenue. When you use a good distribution management system, you can manage multiple stakeholders, including resellers, distributors, and partners, along with your internal marketing, sales, and finance teams. Your distribution teams can look at sales through distributors and forecast future performance and partner pipelines. They can also use the system to run different programs and campaigns to meet the changing needs of their business. A U.S. Manufacturer Uses ZINFI Platform for Efficient and Effective Channel Marketing VERSATEX, a PVC building products manufacturer, used ZINFI’s partner portal to streamline its marketing so its partners could be more engaged. "We are using the ZINFI portal as our VERSATEX CRM, and it's been working out amazingly. We can track how the salespeople in the field are selling and quickly determine what's working and what's not," said Cassidy Huff, Channel Marketer at VERSATEX. Summing it Up A distribution strategy can revolutionize the way you sell your product in different markets. With the correct distribution channel and strategy, your product can reach your buyer considerably more quickly and help you achieve your revenue goals. FAQ What is a distribution channel? A distribution channel is a network of intermediaries like distributors, wholesalers, retailers, manufacturers, and VARs that a company uses to get its product to its end user. What is the impact of distribution management on business? Efficiently managing distribution partners boosts company sales and profitability as it helps businesses streamline how fast and efficiently they distribute their products in the market. What is the difference between direct and indirect distribution channels? In a direct distribution channel, a company allows its manufacturer or service provider to deal directly with the end customer, whereas in an indirect distribution channel, a company relies on a network of distributors, wholesalers, and retailers to sell its products.

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CUSTOMER EXPERIENCE

Kentucky Teen Once Subject of Viral Video Warns Republicans of 'Outrage Mob'

Article | February 10, 2021

A Kentucky teen who became the subject of a viral video after an incident during a class field trip to Washington, D.C., warned viewers of the Republican National Convention Tuesday of an "outrage mob" that threatens to silence conservative viewpoints. After Nick Sandmann attended the March for Life anti-abortion rally with his former classmates from Covington Catholic High School in January 2019, a cellphone video of a close, face-to-face interaction between the students and a Native American demonstrator spread quickly online.

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How Community Coalitions Are Bridging the Digital Divide

Article | February 16, 2022

Across the country, local networks known as Education Innovation Clusters (EdClusters) are bringing together partners and resources to meet urgent needs and envision a new future for teaching and learning. Many of these efforts are rooted in long-standing partnerships across sectors and institutions. As COVID-19 disrupted the lives of students, educators, and families earlier this year, EdClusters sprang into action, leveraging their capacity and reach in ways their networks were uniquely ready to do. Their collective efforts are meeting a range of needs—from internet access to devices to social-emotional supports. As schools prepare for uncertain and complex reopenings, we turn to Kansas City and Rhode Island for powerful examples of community in action.

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How Educators Kept Students on Track During Remote Learning

Article | August 21, 2020

This spring, COVID-19 led administrators across the country to close school buildings and support students learning from home. We asked three educators about how they handled this disruption and found creative solutions to keep students motivated and engaged using the online literacy program, Reading Plus. We looked at what we had at our disposal that would help with reading, the overall environment, and engagement. In the past, we used Reading Plus as an intervention. We considered how we could utilize it with more students during distance learning.

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Spotlight

TDA Group

TDA Group is Silicon Valley’s premier B2B content marketing agency for high tech. TDA plans, creates, and manages content marketing programs that help maximize the return on marketing investments and accelerate sales.

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Capio Hires Jeff Stallings as Senior Vice President of Strategic & Channel Sales

Impartner | December 02, 2022

Capio, one of the largest healthcare asset management companies in the country, has named Jeff Stallings as its Senior Vice President of Sales. In addition to his own strategic accounts, Stallings will lead a sales team of senior regional vice presidents responsible for revenue growth. He also will assist in the planning and implementation of Capio’s go-to-market strategy, and he will establish new channel partnerships to maximize revenue. Stallings will report to Capio’s President, Dan Kutchel. Stallings brings more than 30 years of sales leadership experience in revenue cycle management, much of it in the healthcare industry. He spent the last 16 years in sales and marketing leadership roles at ClearBalance, where he helped drive 1000% growth in his region over his tenure. His previous experience includes roles as national and regional account executive at revenue cycle services firm Convergent Resources, and with the credit bureau Equifax. “Jeff is a well-known leader in the healthcare revenue cycle industry,” said Kutchel. “Jeff is a well-known leader in the healthcare revenue cycle industry,” said Kutchel. “I have known Jeff for years, and I have always been impressed with Jeff’s success record and appreciate his eagerness to help Capio tell a fundamentally different story to care providers looking for unique revenue cycle solutions. Jeff has the experience needed to help lead our sales team into the future.” Stallings’ hiring rounds out a series of leadership additions and promotions supporting Capio’s 400% growth over the past four years. This growth has been fueled by the company’s ongoing commitment to balancing partner needs for immediate cash funding with exceptional patient-centered experience. “I’m excited to join a purpose-driven company that continues to innovate in the healthcare receivables industry,” said Stallings. “Expanding our channel partnerships will further power our mission to help people burdened with medical debt achieve long-term financial wellness.” About Capio Capio helps healthcare providers and physician organizations increase cashflow while lowering their bad debt expense and delivering compassionate, flexible resolution solutions to millions of patients burdened by medical debt. To date, Capio has acquired and provided consumer services with more than $41B in patient accounts receivable via partnerships alongside more than 900 provider clients across the United States. Capio is an advocate for patient-centered collections and offers tools to help patients pay what they can afford and achieve long-term financial wellness.

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Bigger growth opportunities beckon for partners who rewrite the rules of cybersecurity with Infoblox

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Verizon Channel hosts Partner Advisory Council at Boston Innovation Hub

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Impartner | December 02, 2022

Capio, one of the largest healthcare asset management companies in the country, has named Jeff Stallings as its Senior Vice President of Sales. In addition to his own strategic accounts, Stallings will lead a sales team of senior regional vice presidents responsible for revenue growth. He also will assist in the planning and implementation of Capio’s go-to-market strategy, and he will establish new channel partnerships to maximize revenue. Stallings will report to Capio’s President, Dan Kutchel. Stallings brings more than 30 years of sales leadership experience in revenue cycle management, much of it in the healthcare industry. He spent the last 16 years in sales and marketing leadership roles at ClearBalance, where he helped drive 1000% growth in his region over his tenure. His previous experience includes roles as national and regional account executive at revenue cycle services firm Convergent Resources, and with the credit bureau Equifax. “Jeff is a well-known leader in the healthcare revenue cycle industry,” said Kutchel. “Jeff is a well-known leader in the healthcare revenue cycle industry,” said Kutchel. “I have known Jeff for years, and I have always been impressed with Jeff’s success record and appreciate his eagerness to help Capio tell a fundamentally different story to care providers looking for unique revenue cycle solutions. Jeff has the experience needed to help lead our sales team into the future.” Stallings’ hiring rounds out a series of leadership additions and promotions supporting Capio’s 400% growth over the past four years. This growth has been fueled by the company’s ongoing commitment to balancing partner needs for immediate cash funding with exceptional patient-centered experience. “I’m excited to join a purpose-driven company that continues to innovate in the healthcare receivables industry,” said Stallings. “Expanding our channel partnerships will further power our mission to help people burdened with medical debt achieve long-term financial wellness.” About Capio Capio helps healthcare providers and physician organizations increase cashflow while lowering their bad debt expense and delivering compassionate, flexible resolution solutions to millions of patients burdened by medical debt. To date, Capio has acquired and provided consumer services with more than $41B in patient accounts receivable via partnerships alongside more than 900 provider clients across the United States. Capio is an advocate for patient-centered collections and offers tools to help patients pay what they can afford and achieve long-term financial wellness.

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