It’s important to have a solid customer acquisition strategy no matter which business you’re in. The importance of gaining new customers can never be overlooked. Because without it, you’re seriously and always going to struggle to fill up your growth funnel. But marketing over the years has become more costly and customers are trusting brands lesser. According to reports, cost of acquisition in the last 5 years has increased by over 50%. Converting leads into paying customers is a daunting task and is definitely not an easy feat, lead generation can be automated but conversion requires a strategy. So, what is customer acquisition really? It’s the process of acquiring new customers and retain the loyal ones while improving incremental revenue, profits and customer lifetime value.
According to a report, the churn rate of customers varies from industry to industry but on average, it is between 5% to 7%. In order to retain your customers, you will have to provide them with something new and unique. Take an example of Facebook. Facebook offers new ways of engaging its users through user-generated content. Why do you need a defined customer acquisition process? Well, customer acquisition covers every aspect of the lead journey, from generation to onboarding and conversion.
Here are some tried and tested techniques to acquire customers:
- You must have heard that content is king. Powerful and relevant content can change the fate of your business and that’s true. Make sure your content is also data driven as much as it’s potent. You can earn backlinks, press coverage, and traffic to your website with eye catching content. For instance, the content that Coca-Cola usesc- it is smooth, eye-catching and visually enriched. Remember the hugely successful campaign where Coca Cola printed names on the bottles and people got carried away? Exactly! But that’s not all, the story doesn’t end at having great content, award winning website design also plays a crucial role in winning more customers.
- Give customers something without a hidden motive like special discounts to new sign ups, promotional coupons to existing users or live webinars or case study compilations to empower them about your product. After all, it’s all about making the customer feel good about their decision to associate with your brand. Hence meeting and exceeding customer expectations is always a good idea.
- SMS marketing is a very effective way to connect with potential customers. Pair it with email or messenger to know more about your audience and improve your overall customer acquisition strategy. SMS is useful in promoting content, sending product updates, promotions and deals, and event reminders. SMS is also a great way to get people back into your Messenger channel to send longer, more personalized messages.
- It’s important for companies to have a robust presence across all social media channels like Instagram, Facebook and Twitter. Besides, they should also invest in both paid and organic social media marketing for definite results. Leveraging paid social media is a sure-fire strategy for most businesses, depending on your budget and audience type. Paying for social media advertisements and exposure is an effective way to get content in front of your audience.
- Organic search marketing is also known as search engine optimization (SEO). SEO, like social media, complements content marketing efforts by optimizing your content, so it’s more easily found by your target audience.
- These days, the attention span of customers is really low and long texts are not considered useful anymore. Video content on the other hand is gaining popularity and is a great way to move your brand forward. For example, if your niche is technical products, then you can create short explainer videos and share them on your website for maximum engagement.
Customers are the north star of your business, and acquiring new customers is vital to help your business thrive and bloom. Acquiring customers is not a one-off fluke, it’s a well-planned strategy that you need to have to grow more customers. Use these strategies to step up your growth.
Let us help you through your brand-building ideas. You can write to us on email@example.com or call us on 9867299977.