Understanding Life Cycle Marketing for Your Leads

Is this the first time you have heard of life cycle marketing? That may be the case, especially if you are a self-made businessman. Too often, “experts” come up with highfalutin terms to concepts that are already  common knowledge. Nevertheless, life cycle marketing refers to customizing your marketing strategies according to the needs and wants of your customers. The stages of life cycle marketing are similar to the stage of the life cycle of a product: introduction, growth, maturity and decline.

Lead generation and nurturing of lead demand could be made at each stage of life cycle marketing. While a lead generation company which offers excellent lead generation services can come up with a marketing plan suited to life cycle marketing, given a good understanding of marketing and an effective customer relationship management (CRM) program, you can make your own life cycle marketing program.

What is important is that your communication with your prospects and clients coincide according to the stage of the life cycle that they are in. This means that if your prospect is in the introduction stage, you must tell them about the benefits they will get if they purchase the product. Similarly, it will do you no good if your customer is already in the maturity stage and you are still telling him about the existing features of your product. If you get this, then life cycle is an easy thing to understand.