A Brief Introduction to Customer Acquisition
In a world where every man and his dog is competing for attention online, ensuring that your business, product or service stands out can be tricky.8th April 2019 -
We recently wrote an article which asked readers the question, “Are you doing enough to gain conversions?“. As this proved to be such a hit, we decided to focus on conversions further. This time we’ll be looking at how you can acquire customers. On that note, we’re going to Star Wars this situation and go back to the beginning after revealing the ending!
Over the last few years, digital marketing has undoubtedly become more competitive and customers themselves have become harder to convince or to persuade. In a world where every man and his dog is competing for attention online, ensuring that your business, product or service stands out can be tricky. With that said, you should not give up, but instead, become smarter.
The old saying “work smarter not harder” couldn’t be more relevant regarding customer acquisition
Acquiring customers can seem like a bit of a phantom menace, but don’t worry if you feel like that as you’re not alone. Thousands of companies struggle with customer acquisition and proving the return on investment (ROI) for their marketing efforts.
With that said, our digital gurus have put together some tips and insights into the process of customer acquisition to give you a new hope and to guide you in the right direction!
What is Customer Acquisition?
Customer acquisition refers to the process of bringing new customers or clients to your business. The goal of customer acquisition is to evolve and change as trends do – creating a sustainable and methodical strategy that will keep your business going strong.
How to Improve your Customer Acquisition?
Every business needs new customers no matter how old or what size your business is. As well as the obvious fact that new business pays for employees, overheads and other costs, it also demonstrates your ability to grow and develop as trends and customers do.
Your customer acquisition strategy should consist of four things: sustainability, flexibility, targeting and diversification.
Sustainability: A sustainable strategy is one that works in the long run. For example; if your marketing strategy includes using a blog as a means of acquiring new customers, you’ll need the tools and processes in place to ensure that your blog articles go live on set days and that they remain relevant and strong for weeks, months or years past their original posted date, effectively bringing a constant flow of organic traffic.
Flexibility: The business world is always changing! Whether is it trends or attitudes, business marketing strategies should be flexible to change as consumers do. For example, a recent study suggests that a customer is more likely to trust the information of a trusted friend or family member rather than what a stranger or website says – a key change from the early days of digital marketing. Keeping your acquisition strategy flexible and adaptable means you’ll always be able to respond to changing consumer habits, opinions and trends.
Targeting: Possibly the most important factor to include in a customer acquisition strategy is to ensure that it is targeted to the ‘right’ customers. Furthermore, knowing your customer means you won’t waste valuable resources and time by targeting the wrong audience. Take the time to get to know who your target audience really is, whether this is through analysing data in Google Analytics or even running surveys. Speak to your target audience and engage with them. This will not only help you to understand them more but it will also make them feel valued. Consumer habits change quickly and different types of content attract and resonate with different demographics. Master the art of understanding your audience and you can tailor rich content which speaks to them in a language that they understand.
Diversification: When you diversify your acquisition strategy and use various acquisition methods, you have a greater chance of reaching new audiences. For example, one of the most common forms of a diversified marketing strategies would be the combination of paid and organic SEO which have seen results of over 25% more clicks and a 27% increase in profits over isolated efforts. Also, diversifying your customer acquisition strategy creates a balance between risk and reward. So, if one method is failing, those resources can be transferred to the successful acquisition strategy.
How to Acquire New Customers
Customer acquisition strategies can be split into a variety of different types, paid and free, and inbound & outbound, being just two. There is no right method, this will be determined by the resources you have, your audience and your strategy. Here are some of the most commonly used methods for acquiring customers:
Content marketing is an effective customer acquisition method for businesses of all sizes and type. Creating fresh, exciting, and relevant content is a highly effective way to catch your audience’s attention and to send them to your website. Blogs, guides and eBooks are just a few of the most common forms. By creating relevant, rich content, you can establish yourself as a voice of authority and trust in your industry, regardless of whether your aim is to educate, inform, persuade or even entertain!
Video is one of the more complicated forms of content to produce but the rewards make it worth it. Video marketing can give a peek behind the curtain offering insights and information that might be too long or complicated for words. In fact, recent studies show that viewers retain 95% of a message when they watch it in a video, compared to only 10% when reading it in text. This is huge news for businesses as according to HubSpot, 72% of customers would rather learn about a product or service through video anyway. Utilise video on landing pages, within your social media marketing efforts and you have the potential to increase brand awareness and so much more.
Social media marketing allows you to tap into current conversations instantly. Organic social media is mostly used for raised brand awareness, developing a company/ brand personality, and sharing content you’ve published elsewhere (blogs or videos). Each platform also offers the option to run ads and boosted posts, allowing you to target a specific demographics. This can be hugely beneficial for businesses that want to run a campaign with a specific goal or conversion in mind, examples being lead generation, driving newsletter sign-ups and bookings or purchases. That’s not to say that you must invest in paid advertising to achieve those goals. Every social campaign is different and what works for one business, may not work for another. Often underestimated, social media can help you to communicate with your target audience in a more personal and approachable manner, it can also help you to capture the viral factor, inspiring customers and followers to do your advertising for you.
Going hand-in-hand with content marketing, search engine optimisation is the process of optimising your website to improve its positioning in Google search results. In layman’s terms when you Google something the idea behind SEO is to create content that shows up high on the search engines results. By completing in depth keyword and competitor research, businesses can then tailor an on-site and off-site SEO strategy which provides them with the ammo they need to reach those golden hot spots in Google search. As mentioned in our previous article, by Q3 of 2018 the UK average conversion rate was only 4.04% and that’s for top positions so it’s even more important to aim high!
Speak to our team today for more expert advice
Customer acquisition isn’t an exact science! What might work for one business may have the complete opposite effect on another. Thankfully the team at Netbiz Group have years of experience helping clients from a variety of business types and backgrounds with their online activity. We deal with the points listed above on a day to day basis. So, if you’d like to know more about customer acquisition or you’re looking for more advice about a potential campaign, please do not hesitate to get in touch today. Together we can map out a marketing strategy which fits your business needs and goals perfectly.