What is Customer Acquisition?
Customer acquisition is the process by which a company attracts new customers to its business. The goal is to create a systematic, sustainable practices that can evolve with new trends in the market. Any growing company can benefit from an effective acquisition strategy. There are a variety of customer acquisition methods—the best method for your business will depend heavily on your audience, resources, and marketing campaign goals. Before diving into any strategy, make sure to carefully define the audience your business is targeting.
Customer Acquisition Methods
Content marketing is all about connecting with your audience. This customer acquisition strategy can be executed through various different facets, such as blogging, content offers, and videos. Blogging encourages engagement with your audience, and is a great opportunity to explore different topics, showcase your industry knowledge, and build authority. Content offers can take many forms, such as ebooks and guides. These require original, valuable information; however, when executed correctly they can be the person opportunity to gain customer information. Often times customers must exchange information, such as an email address or name, to access these content types. Video is one of the more complicated and expensive forms of content. Reserve your best content for video ideas. Overall, content marketing is a great way to get your audience’s attention through new and relevant information.
Social media as a method of customer acquisition can be divided into two types: organic and paid posts. Organic social media posts are a great way to boost brand awareness and develop a company personality. Additionally, social media posts are a great opportunity to advertise your business’ new content. Paid social media posts can allow new businesses to build a loyal network of followers. Such posts are another opportunity to gather information on your followers. Again, targeted social media posts designed around well-defined buyer personas will produce the best results. Research the social media channels on which your customers are active to get your posts in front of the right pairs of eyes.
Search marketing is a popular form of customer acquisition. Similar to social media, there are two forms of search marketing: search engine optimization and search engine marketing, also referred to as pay-per-click marketing. Search engine optimization is all about optimizing your content so it shows up in organic search results. Research search trends among the audiences you are targeting and utilize various strategies to maximize your results. Some common practices are putting your main keyword in your page title, adding alt text to your images, uploading transcripts for video and audio content, and linking internally within your site. (Read more about search engine optimizatino in this article: https://www.fuzzylogic.io/article/2145.) Search engine marketing is a foolproof way to get your advertisements seen. All you have to do is create a search result and pay for it to show up. We can think about the two forms of search marketing as the turtle and the hare: search engine optimization will benefit your marketing strategy the most in the long run as it is more sustainable, however, pay-per-click marketing is a great way to get your company out there if you are starting out or launching a new advertising campaign.
Email marketing is an easy customer acquisition method for connecting with your audience and promoting your brand’s content, products, discounts, and events. By gathering a few pieces of key information, such as your customer’s name or location, you can tailor your message to each user. You can even use the way in which a user interacts with your site to send personalized trigger emails letting them know if products they previously viewed went on sale, or reminding them of products they may have left in their cart. When it comes to email marketing, details matter. A carefully crafted subject line, perfectly timed email, and attractive email design can be the difference between an opened email and an email that gets lost in an overflowing inbox. (Check out this article to learn more about email marketing: https://www.fuzzylogic.io/article/2143.)
Customer retention has been adapted into modern customer acquisition strategies, and can be one of the cheapest methods. Typically, newer companies need to place a greater focus on other methods, while a more mature company can consider methods of re-engaging existing customers rather than simply seeking out new ones. One way to keep your customers coming back is by making your company’s product readily available and convenient. Another is to create a feeling of exclusivity. Customer loyalty programs are a great way to make users feel special. Some companies connect their product to a mission to make buyers feel good about their purchases. Remember that nothing speaks louder than customer testimonials, reviews, and case studies, and they cost a lot less than paid advertisements. Ask satisfied customers for reviews and referrals, and even consider offering incentives to motivate happy customers to share your company with their personal networks.
Customer Acquisition Costs
Customer acquisition costs are measured by dividing the costs associated with a specific marketing campaign by the total number of customers acquired. One way to drive these costs down is to improve website conversion efforts. Focus on optimizing your landing pages, enhancing your calls-to-action, and ensure your site is both mobile and tablet responsive. Consider diversifying your customer acquisition strategy to see what works best. Remember to record track all relevant metrics and use A/B testing to see which strategies work best for the users you are targeting. With proper planning and executing, customer acquisition is a great way to grow your company and expand your audience.