Attracting new customers is one of the main objectives of any business, as well as retaining existing ones and making sales profitable. In this article, we tell you what are the best customer acquisition strategies and how to get the attention of your target audience.
What is customer acquisition?
Customer acquisition consists of intercepting potential customers and persuading them to make a purchase. You can also retain these customers, which means inciting them to buy at least a second time.
For this process to work effectively, you need to understand how people make purchasing decisions or what is holding them back from doing so. If you know the stages of the purchase process, you can create an acquisition process that allows you to intercept your potential customers until they become real customers.
What is the purpose of customer acquisition?
Customer acquisition helps businesses attract new customers. It includes any method used, both offline and online, to find new customers and incite them to make purchases. Common customer acquisition tactics include cold calling and direct mail, as well as online tactics like email, social media, content marketing, SEO, paid advertising, etc.
What is customer acquisition cost (CAC)?
Customer acquisition cost (CAC) is the average cost paid to acquire a customer or lead.
It is very useful for companies as knowing the CAC helps determine the profitability of an advertising campaign, a sales funnel, or any channel of customer acquisition.
If a company manages information on how much it spends on promotion, it can determine the CAC and evaluate the return on investment (ROI) of any marketing or advertising actions it has undertaken.
How do you calculate customer acquisition cost?
Calculating CAC is very easy, all you have to do is add your marketing expenses to your sales expenses and divide this total by the number of customers acquired by the campaign. The same calculation is valid for both a product and a service, whatever the purpose of the specific campaign.
Here is the formula:
CAC = (Total Marketing Expenses + Total Sales Expenses)Number of new customers acquired
Innovative Customer Acquisition Strategies
The web is full of opportunities when it comes to customer acquisition strategies. Here are the latest trends that offer a comparative advantage marketing-wise:
- Quality content
- Collaborations with influencer
- B2B lead generation
- Psychographic data
- Affiliate marketing
- Effective customer service
One of the key elements to attract people to your website is to have quality content. If you write useful content, which is relevant to your target audience, you will gradually have more visits to your website.
Here are some useful tips to help you write quality content to attract more visitors to your website:
- Start by understanding your audience, you must be very clear about their interests and know what topics they would like to read about.
- Write content that is practical and valuable to visitors and other types of informative content with practical insights that people can use.
- Use the skyscraper content technique and find the best performing content from your competitors and then write better content on the same topic.
- Write interesting and effective headlines that immediately grab the attention of your target audience.
If you don’t have the time to write content and wish to focus on other key aspects of your business, Leadsier offers content marketing services to increase your website visibility and your conversions.
Collaborations with Influencers
In recent years, influencer marketing gained a lot of importance in the digital marketing sphere. In fact, most marketers believe that high-quality customers can be acquired through influencers, compared to traditional marketing methods. When a brand partners or campaigns with an influencer with the right profile and audience, it can enjoy a great outreach. According to a survey, approximately 50% of potential customers trust the recommendations of an influencer they follow (source).
B2B Lead Generation
B2B lead generation as a service consists in outsourcing your business lead generation strategy to ensure the sustainable growth of your operations. At Leadsier, we take care of all the time-consuming heavy lifting to enable you to gain leads while still being able to run your business at full capacity and ensuring great service to your current customers.
We leverage inbound and outbound channels to generate leads to your business. We take care of the entire lead generation process, from exploring potential leads all the way to scheduling a meeting between you and the prospect. We do this by analyzing your target market and identifying which leads have the best chance of success.
Here are some of the B2B lead generation strategies we leverage:
Psychography encompasses people’s tendencies, aspirations, and other psychological criteria. The main areas to focus on are interests, activities, trends, and opinions. There are different ways to collect psychographic data such as through surveys, customer interviews, and website searches. The data collected becomes metrics that are useful to guide decision-making and develop an effective strategy to reach your target audience.
Search Engine Optimization (SEO) is the process of improving the visibility of a website in the organic results of different search engines such as Google, Yahoo, and Bing. By optimizing their website and content, businesses are able to achieve higher conversion rates and greater online traffic.
Although there are thousands of factors that search engines rely on to position a web page, there are two basic factors:
- Authority is basically the popularity of a website. The more authority a website has, the more valuable the information it contains. The more content is shared, the more users find it useful. In short, if there are a lot of inbound links pointing to your website or content, Google will reward you by ranking you higher in Search Engine Results Pages (SERPs).
- Relevance is the relationship a page has to a given search. To be relevant web pages have to be optimized (headings, title tag, keyword variations, LSI, internal links, etc.) because search engines rely on hundreds of on-page factors to index pages.
When done correctly, SEO can save businesses massive amounts of money and drastically their ROI. With a good SEO strategy, companies can reduce their advertising spending. With increasing skepticism toward publicity, more and more people rely on Google’s organic search to form an opinion or find a good or service. If you are not in the top first 3 results of the search engines for specific keywords related to your field of business, you are missing 75% of the clicks. That’s a lot of missed opportunities!
It may surprise you but telemarketing is still very popular. This strategy implies an intense search for clients through traditional telephone calls. In most cases, finding clients requires a great deal of time and energy. It can be a useful alternative to outsource telemarketing in a business.
If you have an ecommerce business, investing in affiliate marketing is highly recommended. With this strategy, you can advertise on portals, websites, blogs, and banners. Every time a user clicks on the banner or link and reaches the website to perform a specific action (buy a product, book an appointment, leave their details, etc.), the affiliate earns a percentage of that profit.
All the members of the affiliate program are interested in giving maximum visibility to the company. It is a very useful strategy to reach a large number of potential clients and it works quite well with influencers and blogs. In this case, ROI is easy to measure. Amazon, for example, is well known for its marketing affiliate program.
Knowing the correct demographics is essential for any user acquisition strategy to be effective. It will stop you from wasting money by offering your products/services to people who do not fit your target audience. If you advertise on Facebook, Linkedin, Twitter, or YouTube, it is even more important to pay attention to this. Doing so will pay off because your ads will reach your target audience.
Here are some segments that you can use to define your target audience as much as possible:
- Geographic area
- Job position
- Marital status
- Religious orientation
- Sexual orientation
This list is not definitive since more segments can be added to detail the segmentation to the maximum. However, you should avoid wasting time with segments that have nothing to do with your product or service.
Effective Customer Service
All consumers highly value effective customer service. Whether in the purchasing or post-sale process, customer service is a key element that makes a person more likely to complete their purchase. For this reason, it is an essential part of any customer acquisition strategy.
For good online customer management, it is useful to activate automation services (they can be bots or live chats). These services guarantee a quick first contact with each client. It is also very productive to automate a pop-up chat window that offers help. Involving users as they browse your website is a winning strategy, as it increases their interest and the chances of conversion.
How can new customer acquisition be improved?
To reach new customers, you must strive to understand who your buyers are and offer them strong motivation to purchase your product or service. The best way to acquire new customers is to analyze your target marketing and develop a customer acquisition strategy that combines the most relevant tactics, both inbound and outbound, to reach your target market.
If you wish to boost your sales and increase your website traffic, Leadsier offers different customer acquisition strategies such as:
- Scientific SEO
- Linkedin Outreach
- Sales as a service
- B2B lead generation
- Content marketing
- Sales closing
- PPC advertising
Feel free to contact us if you have any questions regarding our services or schedule an appointment !