The Buyer Lifecycle (BLC) enhances customer intelligence by enabling true, one-to-one marketing. BLC tracks the natural progression of customer engagement with your brand - from the moment they become a prospect up until their final purchase.
BLC exists in discrete, mutually exclusive phases, as shown in the AutoPilot Journey Map:
AutoPilot autonomously monitors, identifies, and acts upon individual customer behavior and purchase cadence as they move through the BLC. A monthly purchaser, for example, will move between phases according to their monthly purchase cadence, whereas someone who purchases every 3.5 months will move according to their own personal purchase cadence, all of which is managed individually by AutoPilot.
Prospects are those who have not yet made a transaction.
The number of prospects in BG represents the number of identified prospects in your database - those with Personally Identifiable Information, such as an email address or phone number. (See SuperMatch for more information on identified individuals.)
Trial Buyers are individuals who have recently purchased with your brand for the first time. They are currently "trialing" your product and your brand, and so this is a prime opportunity to show them just why they should stay, be part of the brand, and purchase again.
Converting Trial Buyers is critical for any brand - when 1x Buyers make subsequent purchases, their customer value and loyalty increase dramatically. Since Trial Buyers are so recently engaged, they are in a prime position for bounceback purchases - so make sure you set up a Trial Buyer Conversion AutoPilot Campaign.
In-Market customers are those who BuyerGenomics calculated have entered their expected purchase window, and are ready to buy again based upon their own individual purchase cadence.
Though In-Market customers have a higher probability to make a purchase soon, it does not necessarily mean they will make that purchase 100% of the time - it is still important to give them a push at exactly the right time they are ready to buy.
If In-Market customers fail to make their anticipated purchase, it indicates that they are fading in loyalty.
Loyal Buyers love your brand, and keep buying. They've entered a virtuous cycle - each time they move In Market, they make another purchase and move back into Loyal Buyers.
Loyal Buyers have all made multiple purchases and are engaged with your brand. While loyal, it is still important to reach out to them to maintain the virtuous cycle.
Faders are individuals who have missed their most recent expected purchase window, and are beginning to fade in loyalty. They are no longer buying at the rate that their customer profile suggests they can.
Although Faders show signs of slipping, they are not yet lost. In fact, they cost less to reactivate than the later BLC stages (At Risk and Inactives).
Therefore, it is important to deploy messages to them as soon as AutoPilot detects shifts into this category. A special offer, message or promotion sent at the right time can go a long way in persuading Faders to spend with your brand again.
At Risk customers have missed multiple purchase windows and are at significant risk of attrition.
In particular, these individuals have demonstrated a lack of interest through poor engagement and a shortage of purchases.
While members of this group are more difficult (and expensive) to rescue than Faders, they are not out of range just yet. Escalate your offers and call to action in order to reconnect with them before they move into the Inactive stage. Retarget them on other media channels to increase the probability that they will engage with your brand.
Inactives are the customers who have displayed next to no engagement with your brand and have missed several purchase windows. In turn, they have little chance of reactivation - if any at all.
Due to the high cost and low effectiveness of Inactive customer reactivation, most Inactives are often better treated as new prospects (that you already have some data for).
Like with At Risk customers, you may want to retarget these individuals across multiple media channels to increase your reach on these individuals.
BuyerGenomics analyzes responses, purchase patterns/cadence, web browsing behaviors, and external data sources to monitor and message your buyers through their Buyer LifeCycle.
With AutoPilot, which autonomously predicts and detects shifts between each of theses stages in real time, you can swiftly send the right message, to the right person, at the right time to maximize the probability of further purchases.