Maximizing Customer Value with Lifecycle Marketing

You’ve just welcomed a new customer/member or cardholder How can you make the most of it?

Lifecycle marketing is a dynamic, end-to-end communication approach to help you nurture and engage your new customer over time. It’s an effective way to create active, loyal customers and deepen customer relationships.

Did you know?

7x

It is 7x more expensive to acquire a new bank customer than it is keep current customers engaged.1

A 5% increase in customer retention can boost profitability by 25% or more.2

Let us help you maximize your customer relationships.

For over 30 years, Media Logic has partnered with some of the world’s leading financial brands to develop best-in-class lifecycle marketing programs.

Circular chart showing 80% majority

80%of consumers would rather open a new account with their existing bank than a new bank.3

Illustrated group of people below the text '+50% more loyal'

Customers are 50% more loyal when a company has an effective onboarding process.4

3 things that can help you manage an effective lifecycle marketing program

  1. Customer data that can be used to develop personalized, targeted and relevant communications
  2. Multi-channel deployment capabilities to effectively reach customers where they are
  3. Agency partner with expertise and knowledge of lifecycle marketing best practices

Media Logic is an experienced lifecycle marketing partner who can help you improve your overall customer ROI.

Lifecycle marketing consists of four main components

  • Acquisition/
    Penetration     Add new customers through a variety of channels and tactics.

  • Onboarding Create active customers through education on the product’s value proposition.

  • Usage & Engagement Establish long-term patterns of engagement and deepen relationships through targeted communications, benefit reinforcement and cross-sell.

  • Retention Drive loyalty and stem attrition of high-value customers through triggered communications based on actions/inactions.

A thoughtful, personalized lifecycle communication strategy can deepen relationships, fuel engagement, drive spend and, ultimately, boost lifetime value.

  • 1 Demand Sage, Customer Retention Statistics by Industry (2024 Data)
  • 2 The Financial Brand: Ali Cudby, a customer-retention researcher and author, cited by Wharton
  • 3 Competiscan 2023 Trends and Predictions, January 2023
  • 4 SMS Country

Media Logic has the experience and expertise to help you develop comprehensive, cost-effective programs across a wide range of audiences and financial service products, including checking and savings accounts, loan programs, debit cards, credit cards and more.

Jim McDonald

Find out what we can do for you.

Call Jim McDonald, Head of Strategic Growth, at 518-940-4882
or email jmcdonald@medialogic.com