lifecycle loop - the new ecommerce sales funnel
TRANSCRIPT
The Lifecycle Loop The New eCommerce
Sales Funnel #LifecycleLoop
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Sam @Mallikarjunan Head of eCommerce
Marketing @HubSpot
Irv Brechner Executive Vice President Corporate Communications Acquirgy.com
Ask questions at any time:
Use hashtag #LifecycleLoop or
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Lead Conversion in the
Age of Immediacy: New Tactics to Turn Prospects Into Lifetime Customers
They are used to:
Instantaneous email responses to orders
Clicking remotes
Instant messaging
Texting
Constant updates of news, sports scores
Consumers Live in a
World of Immediacy
They Are a New Breed of Shopper
They watch TV while using their devices.
They see a TV commercial, email their friends, check out
ratings online, view the advertiser’s Facebook page, and
on and on.
They can easily get distracted from what advertisers want
them to do: place an order!
Delays Common with Lead Gen
Consumers looking for more information often don’t get
responses for days, even weeks.
They can easily lose interest and seek out a competitor,
especially in a world where instant response has become
the norm.
The “Holy Grail” of Lead Gen
Consumers who respond to TV and radio commercials by
calling or going online get email responses in minutes.
Email responses are relevant, timely and have a strong call
to action and offer.
The “Lifecycle Loop” makes it happen.
The Lifecycle Loop
So easy, pretty, and simple to understand, ain’t it?
The Conventional Linear Buying “Cycle”
How Inbound Marketing Works … and what tools you can use.
Reality is more complicated: The inbound relationship lifecycle
Reality is more complicated: The inbound relationship lifecycle
– Missing key phases of
the buying cycle and
marketing process
– Considers “Influencers”
an end-state
– Considers “Buyers” and
end-state
It’s not an end-state
It’s an infinite loop
This breaks the classic
eCommerce Funnel
eCommerce marketers
are late to the game –
always focused on the
sale. If you’re waiting
until the customer is
ready to buy to engage
them, you’ve already
lost them.
So we started converting people
earlier
Blogging Adoption Is Rising Does your company have a blog or similar content channel?
Frequent Blogging Is Critical 72% of marketers who saw ROI from Inbound Marketing blog at least once a week, and marketers who blog are 155% more likely to see ROI from Inbound Marketing.
More marketers are adopting
pre-transactional conversions
Research Phase Corey’s not just building her contact list,
she’s generating predictable future sales
revenue that she can analyze and optimize:
𝐶
𝐷∗ 𝑉
C = # of new customers,
D = # of downloads,
V = Average LTV
The marketing activities and tools to this point add up to the Cost Of Customer Acquisition
Now her focus shifts to increasing Charlie’s Life Time Value
Customer LTV Is A Profitable Focus Companies that saw ROI by LTV focus rating
The Focus of our eCommerce eConomics
needs to change
“But I get my business through word-of-mouth…” …there’s a math for that!
On a scale of 1 to 10 (one being very unlikely and 10 being very likely), how
likely are you to recommend the Fakasonic VT30 to a friend looking to
purchase a new TV?
Target the right content, engagement, and experience to
people in each phase
Be sure you’re tracking the right metrics in each phase.
Instead of just having someone own a “channel”, someone
should own the phase.
Calculate and track your LTV:COCA and segment by buyer
persona
Get started today.
THANK YOU
QUESTIONS?
Ask questions:
Use hashtag #LifecycleLoop
or
Use the WebEx Questions Panel