Most people who try to start a business and make money off their products don’t know what comes next after the initial proof of concept. It can be hard to figure out which marketing tactics will help your business grow.
But if you have a growth framework, it can help you focus on the marketing tactics most likely to help your business succeed. This will attract new customers, convert them into paying customers and keep them coming back for more.
What Is Customer Acquisition?
Customer acquisition is when a company gets new customers. They get new business, keep loyal customers, and make more money. It is important to remember that customer acquisition starts when a person first contacts the company and continues with the customer retention plan.
The two work together to keep a company profitable.
Customer acquisition includes every step of the customer journey, from getting leads to making sales. Not all customers will stay, no matter how good your retention strategy is. That’s why you need a way to replace those lost customers and keep your business growing.”
How To Create A Customer Acquisition Strategy
Planning and executing the customer acquisition strategy is no walk in the park. Different sub-strategies need to be implemented to ensure the entire process goes smoothly. We have highlighted some best practices you should consider when creating your customer acquisition strategy.
- Identify Your Ideal Customers
- Identify And Define Your Goals
- Choose From A Variety Of Custom Acquisition Channels
- Develop Strategies For Each Channel
- Customer Communication Is The Key
- Measure And Improve The Strategies
Identify Your Ideal Customers
Understanding the customer base is the first step that you need to take when you plan to create a successful customer acquisition strategy. You need to understand the current and target audience to ensure that you are not missing out on the protection of customers.
Analyzing the market and studying the competitors can also help in this regard. When you are confused about the target audience, asking yourself the following questions can help!
- What are some struggles faced by your customers?
- Which channels are used by the customers to gather information?
- What issues do customers face when they want to buy your product?
- What is the time when the customers buy your service or product?
- What do customers get when they purchase from you?
Making dedicated customer profiles will help you analyze the purchasing trend and expand your customer base. You will be able to identify the customer’s traits and behaviors and use this data to invest less or more in different customer acquisition channels.
Identify And Define Your Goals
You can set goals and objectives by thinking about your ideal customers. This will help you create a plan to get more customers. You should also consider how likely people are to leave your company and how quickly new customers are added. If you want to make $20 million in the next year, but a lot of people leave your company, you might not reach that goal.
But it’s not hard to know if your marketing is working. You can measure things like how much money each customer brings in (lifetime value), how many customers you add each month (monthly recurring revenue), how much it costs to get a new customer (customer acquisition costs), and how often people leave your company (churn rate).
Choose From A Variety Of Custom Acquisition Channels
Knowing your ideal customers and what you want to achieve with them is a good way to start making a good plan. But it’s not the only thing you need to think about. It would help if you also thought about which channels will work best for you, based on what you know about your customers and what content works best on those channels.
Channel is just a word for where your customers meet your company for the first time – like social media, organic search, or paid ads. How you bring in new customers is called customer acquisition.
Here is the list of some popular customer acquisition channels:
Facebook: One-on-one messaging, advertising, live video streaming
Paid Social: snappy and short ads with eye-catching visuals
Instagram: short videos and visually appealing posts
SEO: Long-form content that is optimized for search engines
Referrals: Loyalty rewards and discounts
YouTube: entertaining and long-form video content
Develop Strategies For Each Channel
You may want to advertise on every channel possible, but this can harm your ability to get new customers. For example, if you are trying to reach customers in their early 20s, you might find that they are on Instagram or TikTok. So it wouldn’t be worth putting all your resources into Facebook or Google Shopping ads.
Different social media platforms depend on your customer’s interests. If your customers are mostly on Facebook, you don’t need to use TikTok. If you can say more in video than in words, then YouTube or Instagram may be more useful. Research the best strategies for each channel so you can get the most out of your customer acquisition efforts.
Customer Communication Is The Key
You may find that you don’t need to use TikTok if your customers are mostly on Facebook. Or if you find that you can say more in video than you can with words, YouTube or Instagram may be more useful.
Research the best strategies for each channel to get the most out of your customer acquisition efforts.
Measure And Improve The Strategies
If you want to start an online business, you need to use analytics. This is like driving with your eyes open. You need to know what is working and what is not. You also need to know where people visit your website and how your pages perform. If you don’t do this, your business will fail.
It may seem hard to get new customers, but if you prepare and use the right tactics, you can attract high-value customers who will stay with you for longer and help your business grow more steadily.
7 Best Customer Acquisition Techniques
There are seven ways to get your product in front of more prospective customers. Try out these methods and see which ones work best for you.
Content marketing
To do content marketing, you create blog posts, guides, infographics, videos, podcasts, and more. This kind of marketing is efficient and persuasive. It can bring in more website traffic than other kinds of marketing. Businesses of different sizes publish different amounts of content. Smaller businesses might publish one to four blog posts per week, while larger companies might publish several times a day.
Even if you don’t have a lot of money to spend on a content team, you can still create content. You can ask people from different departments to write articles for your audience. You can also hire an editor to help make sure the content is good. The most important thing is to publish content regularly to build closer ties with your readers and get the most out of your acquisition budget.
Search engine optimization (SEO)
SEO is a process where you change your website content to make it better to rank higher on Google or other search engines.
SEO is one of the most important ways to get new customers for online businesses. This is because a lot of people use search engines to find information. That is why SEO is valuable for getting new customers.
The only problem with SEO is that it takes time to work. That means you have to plan for the long term. But the good thing about SEO is that the results are worth waiting for.
Mobile Marketing
Mobile marketing is when you reach customers on their smartphones with text messages, Facebook Messenger, push notifications, or mobile apps. In 2020, mobile sales are expected to be over 280 billion dollars and make up 45% of the total ecommerce market.
You can easily create automated campaigns that work across all your customer touchpoints – like email, text, Facebook Messenger, and push notifications – with marketing automation software like ManyChat.
You should try to match what the consumer market wants. People today want to interact with brands all the time. Having an omni-channel presence can help deliver a message to people that is consistent across different channels.
Personalize your outreach to potential buyers at every stage of their journey. Mobile channels make it easier for you to collect customer data to create more targeted outreach to people who have not been interested in your product.
Social media
It is important to be on social media if you have an online business. This way, you can promote your business to a lot of people. There are billions of people on social media, so it is a great way to reach a lot of people. If someone visits your website for the first time and subscribes to receive updates from you, that is a good outcome. You can send customers special offers and discounts, or exclusive content.
Email Marketing
Email marketing is a very cost-effective way to communicate with your customers. A study found that for every $1 spent on email marketing, there is an average return of $38. If you have the money, hiring an expert in email marketing can be a good idea because they know how to do it better than you. But if you don’t have the money, you can still use software that has email marketing features to reach more people and make more sales.
Referral program
A referral program is an easy way to get more customers. If you know someone who might like your product, ask them to sign up through your referral program. When they do, you might get something for free. If you are a software as a service (SaaS) business, offer pro features for a limited time. If you are an ecommerce business, give them a fair discount on their first purchase. People who like your product will refer other people to your business.
Paid advertising
If you are a newer business or online store, you will most likely need to invest more in paid advertising to get new customers. Ads produce results immediately by bringing in traffic, leads, and sales right after you launch. Paid ads can also help your SEO efforts by giving you ideas for keywords to use in your organic search campaigns. However, pay-per-click (PPC) can get expensive quickly if you don’t follow some best practices. Some best practices to make sure you get the most out of your ad spend are:
Make sure to use a remarketing strategy. This means that you will show ads to people who have seen your ad but haven’t bought anything from you yet. This can be done with Facebook ads or Google ads. Some brands see a 1,300% return on investment from using remarketing ads.
Where Product-Led Growth And Marketing Meet
Having a good product is the most important part of a business. If you have a good product, people will want it and you will succeed. You can improve your product by making the customer experience great and adding features for the end-user. Product-led growth is when a business focuses on its products. They understand that people will want to buy their products because they are great.
Product-led growth is very important for success, but it is also important to have a good marketing strategy. Combining product-led growth with traditional marketing tactics can help you achieve your business goals.
Implementing a simplified growth framework
The simplified growth framework explains how your company will get more customers. Each goal has a plan of what to do to get more customers. You can decide what tactics to test by looking at what is best for your business, goals, and budget.
Tactics that can help attract customers include paid digital advertising, like paid social media, paid search, display ads, and organic SEO strategies. Partnerships, email marketing, event marketing, and print or TV ads can also successfully attract new customers.
Making customers happy is a big part of business. You want to keep them interested in your company and product. You can do many things to make this happen, like having a great website that is easy to use and providing helpful onboarding materials. You can also encourage customers to become advocates for your brand and products.
There are different ways to grow a business. You can use email alerts to customers when they reach a certain usage level, or you can blog or create other educational content. You can also have referral programs to encourage people to recommend your company to others. The three main goals for growing a business are always the same, but your tactics will depend on your business’s needs and budget. As your company grows, you can add more tactics that make sense.
Trust Cybior To Retain Customers and Grow Your Business
Cybior is a company that specializes in web development, app development, SEO and SMM. We can help clients retain customers and grow business by developing innovative websites and applications, optimizing their online presence and increasing site traffic. Our team of experts have years of experience in the industry and are passionate about helping businesses succeed online. Contact us today to learn more about how we can help you grow your business.