Business Building

Actionable advice on starting and growing business in a data-driven way.

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The classic graph for the product lifecycle is a sales curve that progresses through stages:

  • a sharp rise from the x-axis as a product transitions from Introduction to the Growth phase;
  • a sustained, rounded peak in Maturity;
  • and a gradual Decline that portends its withdrawal from the market.

Each stage of the product lifecycle has implications for marketing. But an MBA-friendly curve rarely translates to reality. The goal of product lifecycle marketing is not to match the curve but to outline what may work best now and plan for the future.

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I don’t have to convince you that email is important:

  • Email is a cost-effective way to get sales. Converting customers from your mailing list costs less than converting the same number via advertising.
  • Email includes your most-interested customers. The majority of your list is composed of people who’ve already placed an order, so you know that they’re willing to buy (though it still takes effort to win back customers.)
  • Email maxes out revenue from big sale periods. Black Friday and Cyber Monday sales represented $123 billion in revenue in 2018. And, according to Klaviyo, emails initiated 30% of those sales.

But do you work on your email? Is email an actively managed and QA’d operation in your business?

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