You have been tasked with configuring Object Lifecycle Management for objects stored in Google Cloud Storage buckets. These objects are written to the bucket once and accessed frequently for a period of 30 days. After this initial 30-day period, the objects are seldom accessed unless there is a specific requirement. The retention policy mandates that the objects should be preserved for a total duration of three years. Given these requirements, you need to implement a solution that optimizes cost. What steps should you take to achieve this?