If you want to grow your business, you need to understand the concept of Lifecycle Marketing – the process where you attract, sell and WOW your customers. Daymond John, (of FUBU and ABC’s Shark Tank) knows and uses Lifecycle Marketing in his business ventures to turn his customers into loyal fans and he shared with us some of his strategies in a recent Shark Chat.
Shark Chat is a subscription audio webinar where Daymond John teaches small business owners, like you, how to grow your business and build your brand. The series is hosted by Cliff Worley, Chief Digital Officer at Shark Branding, and the most recent edition featured Ramon Ray, of Smallbiztechnology.com, Smart Hustle Magazine, and Infusionsoft.
The topic of the recent Shark Chat webinar discussion was lifecycle marketing, and throughout the one hour session, Daymond John and Ramon Ray explained everything you need to know to get your business off the ground:
- The importance of gaining your customers’ trust and letting them get to know you
- The necessity of meeting people, networking your business and getting third party interest
- The power of creating a ‘buzz’ around your products or service – getting people talking so they become ambassadors and want to become part of your movement
- The benefits of giving people something, especially knowledge, demonstrating that you are an authority in your field
- The strategy of holding contests and organizing events to reach more leads and customers
- The careful intersection of knowing your target audience and using a variety of different marketing strategies to catch their eye
(Click image above to listen to the full session)
After Daymond and Ramon review the key points of lifecycle marketing, and the best strategies that will help you attract new customers, they then field questions from other business owners who are looking to grow their business and their brand. I’m sure you have some of the same questions yourself, questions like:
- Should all businesses have reward programs?
- What are the top mistakes when trying to attract new customers?
- What percentage of your focus should go to existing customers versus attracting new customers?
- How to keep customers coming back to buy more?
- What hooks a customer right away – the product or the messaging?
- What software options are there for tracking customer history?
- Should you use text message marketing?
- How important is packaging?
- How to do beta testing to find what customers want?
- What marketing channels should you pursue if you’re on a tight budget?
- Should you compete on price?
- Is there a formula or set of steps for creating a buzz?
The best part of the Shark Chat is not just how Daymond and Ramon explain the concepts of lifecycle marketing – it is how they bring it to life with examples of how real companies are doing lifecycle marketing today. Throughout the webinar they discuss companies such as The Bombas Socks, Toms, Infusionsoft, Nature Valley, Oreo, Girl Scout cookies, Coca Cola, Apple, Lowes, Samsung and more. Daymond also provides deep insight regarding his company FUBU; he talks about the mistakes he made along the way, powerful ad campaigns the company has run, the importance of giving back, and the process of creating a buzz around the brand. Since Daymond is also an investor on the TV series Shark Tank, he also talks a little about the companies he has invested in, regarding what he’s done to help brand them.
In addition to giving you a thorough understanding of lifecycle marketing – and concrete steps you can take today to start building your brand – Daymond and Ramon also point you to further reading on the subject, sharing their favorite marketing books such as Blue Ocean Strategy, Jab, Jab, Jab, Right Hook, and others.
The Shark Chat webinar on lifecycle marketing is enlightening, and a necessary crash course for any business owner who has dreams of growing the business and reaching more customers. Enrollment in the course is free – just click the play button on this page.