Customer life cycle wdm

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Customer Life Cycle as a guideline for marketing activities

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Customer life cycle wdm

  1. 1. Customer Life Cycle Source of consumer knowledge
  2. 2. Your marketing concerns <ul><li>How to maximize your </li></ul><ul><li>client and prospect profit? </li></ul>
  3. 3. Focus on the customer <ul><li>Your marketing retruns depends on </li></ul><ul><ul><li>Number of (valuable) clients </li></ul></ul><ul><ul><li>Value of each customer </li></ul></ul><ul><ul><li>Length of the relationship with your clients </li></ul></ul>
  4. 4. Your marketing strategy Cost-effective prospection Developing and keeping the right clients Less costs More profit TIME CONVERSION VALUE INVESTMENT
  5. 5. Knowlegde is power <ul><li>Know your market, your clients and your prospects to </li></ul><ul><ul><ul><ul><li>Understand </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Get </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Grow </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Keep </li></ul></ul></ul></ul>
  6. 6. Consumer life cycle VALUE TIME INVESTMENT CONVERSION UNDERSTAND GET KEEP GROW
  7. 7. Understand <ul><li>Suspect becomes prospect </li></ul><ul><ul><li>What is your potential in the market? </li></ul></ul><ul><ul><li>Where and how to find high value prospects? </li></ul></ul><ul><ul><li>How and with what means to attract them? </li></ul></ul><ul><ul><li>Where and how do they buy? </li></ul></ul>“ I need” “ I’m not aware” “ I’ve heard” “ I consider” “ I’m persuaded” LIFE TIME SUSPECT COLD PROSPECT WARM PROSPECT
  8. 8. Understand <ul><li>Know more to take better marketing decisions </li></ul><ul><li>Consumer Knowledge : </li></ul><ul><ul><li>Check the needs and behaviour patterns of your prospects </li></ul></ul><ul><ul><li>Analyse their purchasing behaviour </li></ul></ul><ul><ul><li>Measure their sensitivity to media </li></ul></ul><ul><ul><li>Determine the communication channel they prefere </li></ul></ul><ul><ul><li>… </li></ul></ul><ul><li>Market knowledge : </li></ul><ul><ul><li>Update potential alternatives </li></ul></ul><ul><ul><li>Analyse market potential, market demand and market share </li></ul></ul><ul><ul><li>Identify consumer trends and behavourial shifts </li></ul></ul><ul><ul><li>... </li></ul></ul>UNDERSTAND
  9. 9. Get <ul><li>Prospect becomes client </li></ul><ul><ul><li>How to identify and locate your target group? </li></ul></ul><ul><ul><li>Which market segments react to your marketing communications? </li></ul></ul><ul><ul><li>Frequency and method of approach? </li></ul></ul><ul><ul><li>How to maintain a contact and make a transaction? </li></ul></ul>“ I consider” “ I’m persuaded” “ I intend to buy” “ I make my first purchase” LIFE TIME WARM PROSPECT HOT PROSPECT FIRST TIME BUYER
  10. 10. Get <ul><li>Cost-effective prospection campaigns </li></ul><ul><ul><li>Determine the characteristics of your target group and your respondents </li></ul></ul><ul><ul><li>Identify and qualify your target group(s) </li></ul></ul><ul><ul><li>Select the most effective communications channels </li></ul></ul><ul><ul><li>Seek to vary methods of contacting your prospects </li></ul></ul><ul><ul><li>Measure effectiveness of your campaigns </li></ul></ul><ul><ul><li>Determine purchase motivations of your clients </li></ul></ul><ul><ul><li>... </li></ul></ul>GET
  11. 11. Grow <ul><li>Client becomes supporter </li></ul><ul><ul><li>At what point are your clients satisfied? </li></ul></ul><ul><ul><li>Do you know them well enough? </li></ul></ul><ul><ul><li>What else can you offer your clients? </li></ul></ul><ul><ul><li>How can you keep in touch with your clients? </li></ul></ul><ul><ul><li>How can you create a durable bond with your clients ? </li></ul></ul>“ I make a first purchase” “ I make a second purchase” “ I buy regularly” “ I become loyal” “ I tell others” LIFE TIME REPEATING CLIENT REGULAR CLIENT SUPPORTER
  12. 12. Grow <ul><li>Maintenance and growth of client value </li></ul><ul><ul><li>Segmentation of your clients </li></ul></ul><ul><ul><li>Determination and measurement of commitment </li></ul></ul><ul><ul><li>Positioning of your communication mix </li></ul></ul><ul><ul><li>Offering added value to your clients </li></ul></ul><ul><ul><li>Generation of repeat purchase </li></ul></ul><ul><ul><li>Stimulation of up-sales and cross-sales </li></ul></ul><ul><ul><li>  ... </li></ul></ul>GROW
  13. 13. Keep <ul><li>Supporter stays loyal </li></ul><ul><ul><li>Do you know of the long-term value of your clients? </li></ul></ul><ul><ul><li>How can you detect significant indications of infidelity? </li></ul></ul><ul><ul><li>What are the requirements for regular communications? </li></ul></ul><ul><ul><li>By whom or by what are your clients influenced? </li></ul></ul>“ I left” “ I leave” “ I intend to leave” “ I doubt” “ I tell to others”
  14. 14. Keep <ul><li>Keep profitable clients </li></ul><ul><ul><li>Create advantages and added value for your clients </li></ul></ul><ul><ul><li>Identify transitions and events </li></ul></ul><ul><ul><li>Preserve and maintain relational data </li></ul></ul><ul><ul><li>Discover the social networks of your clients </li></ul></ul><ul><ul><li>Win back former clients </li></ul></ul><ul><ul><li>… </li></ul></ul>KEEP
  15. 15. Questions? Problems? ? ? ? ? UNDERSTAND GET KEEP GROW
  16. 16. What can WDM Belgium do for you? <ul><li>Mission Statement </li></ul><ul><ul><li>WDM Belgium creates and handles data to enable its clients to find, manage and reach customers in the most profitable way . </li></ul></ul>WDM Belgium = source of consumer knowledge
  17. 17. Thank you!

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