Life cycle stages refer to the phases a consumer or marketing initiative goes through from initial engagement to completion of a business’s goal.
In ecommerce, life cycle stages can refer to the phases of either the consumer sales funnel or a marketing initiative. In terms of the sales funnel, the life cycle stages map to different levels of consumer engagement.
First, the customer becomes aware of the brand. Then, they consider the brand’s product by researching it and other similar products. Finally, they reach the conversion or decision stage, where they’ve decided whether to buy the product from that brand or not.
In this process, the life cycle stages also map to particular marketing goals or efforts. In the awareness stage, for example, the business might make high-level marketing campaigns that identify customer needs and highlight products that connect to those needs.
To grow a business in today’s ecommerce landscape, it’s critical to understand not only what your business’s life cycle stages are, but also how your marketing efforts connect to each stage.