An Improved Approach to your Customer – and Revenue – Journey
The marketing universe never stops evolving as customers continue to take greater control of their own buying journey. Because of this shift, marketers can no longer use the traditional funnel to model their interactions.
Many organizations have already felt the limitations of other models, such as the demand generation waterfall. So, how do you embrace all aspects of the customer’s journey … from initial acquisition to expansion?
Let’s walk through transforming a traditional funnel into a customer-centric infinity loop:
The traditional funnel is short-sighted. Many organizations shoehorn business practices into this journey model, but many holes are left – with the biggest one being existing / returning customers.
The traditional funnel takes a company-centric approach that’s often focused too much on net-new growth.
Let’s add some customer focus. Now, our funnel is an hourglass to represent both the initial acquisition of a customer and their journey … but this model assumes these customers just fall through like sand.
If it were only that easy!
In reality, customers can fall out of our funnel (now an hourglass) at any time. That includes post-sale, too!
It’s up to us – the marketing team – to provide a safety net of customer-centric actions that fall across all functions to keep them as a customer.
But they rarely follow a nice, linear process.
After all, with ads, emails, online forums, podcast appearances, account managers, social media, newsletters, and 100s of other potential interactions … there’s multiple ways to continue engaging.
The engagements differ for net-new vs. existing customers. But both are equally important!
Want to know about a team helps this happen? Read about how to get more from marketing operations.
Your customers can also be at many stages of their customer journey at once. The process to get, keep, and grow the right customer is an ongoing, infinite process.
Customer-centric organizations know this! They focus on lifetime relationships with a customer, far beyond the initial acquisition.
The Loop™ operationalizes this customer focus by equally focusing on both net-new customers and existing ones. Your marketing should focus on both … and the model supports marketing’s impact on both key forms of revenue.
Who owns this journey? It varies, but there absolutely should be input from any customer-facing department: finance, IT, customer service, sales, etc. Read more about this in our blog on updating your customer journeys.
Want to know more?
We fully believe The Loop is a better customer revenue model that embraces the complete lifecycle. It…
…is completely built around the customer, not the company.
…guides you to develop metrics, content, marketing and sales approaches that align with each stage of your customer lifecycle.
…implements a framework that works for your customers and your operating requirements.
Get a deeper dive in CEO Jeff Pedowitz’s Forbes bestseller, F The Funnel, grab one of our most popular bundles, or learn more about our lead management consulting options to start driving revenue sooner for your organization.
Create customers for life with the infinity loop, a framework that molds to your business!