Yazamo Client Lifecycle Marketing Process

Blog_Image_Yazamo_Client_Lifecycle_Marketing_ProcessThe Yazamo Lifecycle Marketing Process has been used by bestselling authors and information marketing leaders such as Joe Polish and Peter Diamandis.

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It has increased our clients’ sales by millions of dollars. The Lifecycle Marketing Process is a scientific, field-tested, and data-driven process that systematically increases profits, conversions and sales funnel efficiency.

In this article, I’m going to lay out the exact step-by-step process we use with our high profile clients so that you can immediately implement the process into your business and see results. But, before I do that, let me ask you a few questions to find out if you have the same problems as they do.

  • Do you know how much money every single client is worth to you? Alternatively, do you know the life time value of your client?
  • Do you know the percentage of people that will buy your upsells?
  • Do you know how much money you can spend to acquire new leads and hit your profitability goals?
  • Is your business focusing on the wrong target market or product to sell because you don’t understand which type of client is most valuable to you?
  • Have you struggled with turning leads into sales?
  • Have you done a product launch that fizzled out after the major push from affiliates?
  • Have you done a launch and were unable to effectively transition those new customers and leads into your core business?
  • Have your leads ever compared your products to your competitors based on price?
  • Have you ever emailed your list with brute force until you made the cash that you needed?
  • Have you taken ideas you've heard from other entrepreneurs, tried to quickly and sporadically implement them in your business, and seen minimal results?
  • Have you ever implemented ideas to increase your leads or improve your sales for one of your products with minimal results and been at a loss for what to do next?
  • Have you ever spent money on a website without tangible definitions of return on investment?

If you don’t have a clear answer to these questions, then you are likely letting money slip through your fingers. Many of our clients have faced these exact problems; that’s why they’ve called us for help. Once you go through the Lifecycle Marketing Process, you’ll have the answers to these questions and know exactly what to do in order to increase profits. Incorporating the Yazamo Lifecycle Marketing Process into your business, if done correctly, will help you convert more leads into customers and get more revenue per customer than with any other sales process.

However, before we go into the details of the Lifecycle Marketing Process, I have to make clear that I’m not going to sugar coat things and mislead you into believing that this process is easy. This is not something you do once, walk away from, and be showered in profits. The Lifecycle Marketing Process takes time and effort to implement, but it can increase your profits by hundreds of thousands or even millions of dollars, and is definitely worth the effort. If most business owners can spend hours upon hours on things that won’t put a dollar in their pocket, the same amount of time should be worthwhile when you’re raking in new profits. We believe that once you see the money come in from the extra effort, you’ll be happy to implement the process and you’ll use it over and over again. Although we know not everyone has the time or marketing stamina to implement such a complete and powerful process, we know that if you do, you’ll have an unfair advantage over your competition in this age of dropping email open rates and online advertising clutter.

Alright, let’s get started!

The Lifecycle Marketing Map

The first step in the Lifecycle Marketing Process is to make your Lifecycle Marketing Map. A Lifecycle Marketing Map is a diagram of your sales funnel process. It’s a map of all of your products, price points, and the overall buying sequence a typical customer goes through when they become your lead. Creating your Lifecycle Marketing Map is the first step to finding the money leaks in your sales process and fixing them. To illustrate what one of these maps looks like, below is an example of how Tony Robbins uses the Lifecycle Marketing Map in his business.

LifecycleMarketingMapLet’s talk about the different cycles of the Lifecycle Marketing Map, as seen above.

The Lifecycle Marketing Map is broken down into five parts: Lead Magnet, Tripwire, Core Product, Profit Multiplier, and Referral and Re-Engagement Strategies. Here’s a more detailed breakdown of each:

  1. Lead Magnet - A lead magnet is anything you are doing to get people interested in your business and to raise their hand in some way. This could be an online email opt-in, subscribing to your YouTube channel, responding to an ad for a free product, following your business on Facebook, etc.
  2. The Tripwire is the first product you sell to your customer. Statistically speaking, it’s easier to sell to an existing customer versus a new customer. In fact, an existing customer is 60-70% more likely to buy than a new prospect, who is only 5-20% likely to buy. For this reason, it’s important to offer a lower priced product or service to make it easier for your customers to make their first purchases and for you to continue to sell to them.
  3. The Core Product is your product that most customers will buy and the product you will make the most money from. If you have multiple Core Products that people often buy one after the other, that’s great!
  4. The Profit Multiplier is any additional product or service that you sell to those extremely loyal customers who have bought everything you have to sell and are still asking for more. This could be a high-end coaching package or multi-day workshop or seminar.
  5. The last parts of the Marketing Map are the Referral Strategies, or ways that you can get loyal customers to refer their friends to your product, and the Re-Engagement Strategies, or the ways you can get customers or prospects back into the sequence. Your Re-Engagement Strategy could be a monthly membership program, a consumable product, an updated product, etc.

You will notice that right below the map above, you can see the total lifetime value of each customer in Tony Robbins' sales funnel as he moves them from left to right. This is extremely important to know when making strategic business decisions.

What This Map Can Teach You

Here are a few examples of “a-ha” moments you may come across once you’ve completed your Marketing Map:

1. Illogical Flow - Trying to make the right sale at the wrong time can kill your conversions. Depending on your audience, it might not make sense to follow a conference with a membership program or to follow a free e-book with a training course. Once you finish your map, you’ll see where you may be confusing customers and losing sales as a result.

2. Customer Lifetime Value - The Lifecycle Marketing Map will help you discover the true lifetime value of a customer, even if you have multiple audiences that you sell to. You may find out that your leads are worth more than you think (or less) and you can increase or decrease your lead generation budget in specific areas to increase your income.

3. Money Leaks - This is the most common new piece of information to find. Once you map everything out, you’ll see firsthand where your sales process is lacking and why you're potentially losing out on hundreds of thousands or millions in revenue.

The Money is in the Details

Once you’ve created your Lifecycle Marketing Map, it’s time to crunch the numbers. This might be the hardest part, but it’s the most important. Real numbers don’t lie. At this point you should collect all the data you can gather from your entire Lifecycle Marketing Map. This is where we see our clients having their biggest “a-ha” moments and this is also where the biggest money making opportunities are discovered. Some of the data you’ll collect includes:

  1. Website visitors
  2. Email opt-in rate
  3. Tripwire sales page conversion rate
  4. Core Product sales page conversion rate
  5. Profit Multiplier sales page conversion rate
  6. Cost per lead
  7. Profit margins for each of your products
  8. List of traffic sources
  9. Analysis of which traffic sources convert the highest
  10. Conversion rates of tested payment plan variations

Now that you know the numbers, you can find your break-even point. Your break-even point is where you start making money in your Lifecycle Marketing Map. Don’t get too worried at the beginning: it’s common to lose money on acquiring a lead. Once you’ve finished your Lifecycle Marketing Map and collected all the metrics, you can start to strategize and brainstorm ways to move the break-even point to where you want it. However, some of our clients have found that pushing the free-line or break-even point further from the Lead Magnet increases their conversions and overall profits. Finding the right strategy for your target audience may take testing and tweaking before you get it right, but it can lead to...

Your Greatest Money Making Breakthroughs

Once you have all of the important information to analyze your Marketing Map, you can begin optimizing it. This is where you can get creative and put that marketing acumen to good use. You’ll have the chance to implement new strategies, price points and ideas into your Lifecycle Marketing Map. This is also where most entrepreneurs quit. Most entrepreneurs aren’t marketers and they don’t study marketing and sales funnels because they’re too busy working “in” their businesses. I’m sure that you’ve heard the phrase: “You need to work ON your business, not IN your business.” This optimization is what it means to work ON your business and it separates the professionals from the amateurs.

 

To your continued success,

Jeremy Ellens