Key Lifecycle Marketing Strategies to Drive Performance in 2024
For advertisers and brands looking to maintain a competitive edge in 2024, mastering Lifecycle Marketing is essential. This section dives into the latest developments including the expansive potential of AI, the pursuit of consumer wallet share, the nurturing of brand reputation and loyalty, the importance of consumer data privacy, and the strategic use of Lifecycle Marketing to enhance cross media channel performance.
To ensure you're always updated with the latest trends and insights, we recommend frequenting Tinuiti's blog for upcoming feature announcements, expert tips, and more.
Data First Approach: Prioritizing Data Security and Unlocking Consumer Insights
In the world of data collection, it's essential to know and protect the personal information you gather. This includes ensuring data security through strong measures and planning for potential issues. Brands must work to earn consumers' trust regarding their data.
In determining how to best provide those hyper-personalized messaging experiences while respecting and adhering to privacy restrictions, many have turned to the valuable zero-party (0P) and first-party (1P) data insights lifecycle marketing offers.
Here are two ways you can prioritize data security and unlock consumer insights:
High-Level Security Practices: Advertisers and partners should stick to top-notch security standards. This includes understanding and safeguarding the Personally Identifiable Information (PII) you collect, storing data securely, and using Multi-Factor Authentication (MFA) to boost data protection. Although unlikely, it's important to be ready for unforeseen events. Having a well-thought-out plan in case of unexpected challenges ensures a proactive and responsible approach to managing data.
Get Creative with Data Collection: For Lifecycle Marketers, understanding consumer insights is crucial for better campaigns. It's important to gather data from various points, like purchases, online interactions, in-store experiences, and campaign engagements. Advertisers should also use imaginative methods like quizzes, polls, and in-person interactions (both online and in-store) to gather valuable customer insights. These insights help with effective segmentation, A/B testing, and building long-term relationships, ultimately leading to better returns on investment and customer retention.
“We need to be targeting subscribers to the degree they want and expect; otherwise, they’re going to pass over your messages. You not only have the information they provided when they signed up, but also behavior learnings along their customer journey. You know what they’re interested in, what they’ve been browsing and clicking on, and what they’ve ordered—all of that ties into the data that we’re collecting for our audience communication strategy. With that valuable information at our fingertips, we have to be utilizing it in every communication we send.”
Emily Clarkson Sr. Director, Lifecycle Marketing at Tinuiti
AI-Powered Precision: Optimizing Content Strategy and Lifecycle Marketing Channels for Maximum Impact
In the effort to capture consumer spending, enhance brand reputation, and cultivate customer loyalty, the importance of making individuals feel valued and unique cannot be overstated. Among the plethora of tools, advertisers grapple with the question of how to pinpoint the technology that will yield the utmost impact on performance.
Here are two ways you can optimize your content strategy leveraging tech:
Lean into AI-Powered Personalization: Utilizing data for shaping content strategies, cadences, and optimizing the choice of Lifecycle Marketing channels (SMS, email, on-site). This includes harnessing AI technologies to deliver precisely tailored consumer content at the most relevant moments.
While AI and machine learning are the shiny new thing right now, Lifecycle has long been leveraging these technologies. Ready to learn more? Check out our recent webinar summit (on demand) “Lifecycle and AI: Where We’re At and Where We’re Going”.
Optimizing Available Tech Resources: Managing your lifecycle marketing technology means balancing many priorities: cleaning up data, getting the full use of your tech stack, managing risk and compliance issues, and successfully migrating. In 2024, the key to achieving more with less is harnessing the full potential of your existing technology stack (ESP, CDP, Dynamic Content Partners).
Getting your tech stack organized should be a top priority item on your list in 2024. Be sure to check out our recent webinar summit (on demand) “Leveraging Your Tech Stack – Migration Execution: Best Practices for Both”.
Supercharge Cross-Channel Performance: Must-have Lifecycle Marketing Strategies
When it comes to Lifecycle Marketing, managing cross-channel marketing is crucial for delivering a consistent and unified message to your customers through all available channels. Creating audiences using first party data and sharing cross-channel, will be imperative as consumers continue to prioritize privacy, while still requiring personalized interactions with brands.
Here are three ways you can supercharge your cross-channel performance:
Crafting Targeted Media Strategies for Enhanced Performance: Developing media targeting strategies based on insights from Lifecycle Marketing audiences is pivotal for optimizing performance.
Using Event-Based Data for Comprehensive Insights: Shifting to event-based data within ESP and CDP platforms, rather than pixel-based data, provides a holistic view of user interactions with the brand from the moment of identification.
Tailoring Custom Audiences for Performance Enhancement: Creating custom audiences specific to Search, Shopping, Social, and Lifecycle Clients not only reduces CPA but also increases ROAs and expands the addressable audience size, making it a driving force in the evolving marketing landscape.
READY TO SEE THESE STRATEGIES IN ACTION?
Be sure to check out our recent webinar summit (on demand) “How to Craft a Winning Omnichannel Strategy in the Age of Privacy, Lean Budgets, and Multi-Channel Messaging”. Plus, our client, beach towel company Sand Cloud, joins us to talk about how they’re connecting email, SMS, in-store, and app to form an integrated Lifecycle Marketing powerhouse.