There are many steps you can take to achieve the success promised in the above statement. In the top ten is analysing and learning about the purchase patterns - or life cycles - of your products and services, as well as the purchase patterns of your prospects, new customers and repeat customers. You will then use the information to create content that is relevant, target specific content to specific subscribers and have a better idea of when and how often to send your communications.
Understand the lifecycle of your products and services
These cycles will affect the content, frequency and timing of your mailings. Here are three examples of 'life cycles' of typical products and services.
- It has a beginning and an end - Examples of this would include events and recruitment. With events the cycle is: Build interest. Get exhibitors. Get speakers. Get attendees. Hold event. Information about the event is no longer relevant the day after the event - though, you might move attendees into the next cycle to hear about the next event. In recruitment, job seekers are on a focused mission and keen for lots of relevant information - and want to hear from you often. Once they have the new job they generally don't want to receive any further information. It is now not relevant.
- It is part of an ongoing cycle - This can be the long cycle of your relationship with a customer. Monthly newsletters are excellent at taking subscribers through the entire cycle of their relationship with your company: e.g. prospect / customer / repeat customer.
- It moves from one cycle to another - A potential customer may be searching the internet for information about a product or service they are interested in purchasing. The intensity of the interest and time frame in which they need to make a purchase will vary. By capturing them in a newsletter sign up facility on your website you can aim to move them from possible customer to customer. Another cycle is moving someone from pre-sales to after-sales - each requires different communications.
Understand your customer's purchasing process or cycle
The decision making process for a purchase also affects the frequency and timing of your mailings. With B2C mailings there is more of an element of impulse buying, but with B2B there are usually more people at the company involved in the sign off of a purchase. Here is the general purchase process:
- They recognise a need and are aware of a problem
- They begin a search for information - This is reach-your-potential-customers time. You are beginning a relationship with them, perhaps through contact with your website, at an event or through other means. Email will help nurture this relationship as they work through the decision making process.
- They are evaluating choices and alternatives - Here's where your expertise, experience and knowledge will be key in helping them decide to purchase from you. You will be mailing from a 'front of mind' viewpoint. It is important to mention here that there may be a long cycle between researching and reviewing and the actual purchase - again it depends on your product and service.
- They make the purchase - If they purchased your products or services, congratulations - you now have a customer! Now the work begins building loyalty with your customer.
- The post purchase evaluation - Here's where your email newsletter, which has been building loyalty and providing customer care, can ensure that they purchase from you again.
Use these cycle insights to better target your communications
Now that you've reviewed the cycles you can determine how frequently you should be sending. Perhaps there are some recipients who should currently hear from you more frequently, or shouldn't receive all of your communications. This is where segmenting can help. Segmenting your lists - even on a very basic level - means you can split out the content you're sending.
