Customer acquisition is the process of onboarding new customers or clients to your business. Customer acquisition professionals use specific techniques to get potential customers to take action. The goal of this process is to create a systematic, sustainable strategy to acquire new customers and grow revenue for the business.
No matter what your company sells, customers are the single source of profits. It’s not exaggerating to say that clients are the life-blood of any business. That’s why it makes so much sense to invest money to bring them on board. But if new customers are gold, long-time ones are platinum. Any marketing or promotion plan should be viewed as a direct investment, a way to build a stream of income from buyers.
Every successful plan, however, begins with an honest self-assessment. Make a detailed list of how things stand with regard to the number of clients and how long you’ve had them. Next up is the quest to reduce monthly spending on extraneous items to free up capital for marketing efforts. The following suggestions are one way to structure a five-point customer acquisition program.
1. Assess Your Current Situation
You probably already know that your customers can help business expansion so it is important to study your current client base for in terms of demographics like age, date of first purchase, the average amount spent, etc. The point of this assessment is to identify weak spots and strengths in your marketing approach. It’s nearly impossible to implement new strategies until you diagnose the status quo and see what’s working and what isn’t. Make a list of tactics that have paid off and which ones haven’t. Then, make a wish list of results you’d like to see over the next six months by employing a fresh approach.
2. Lower Monthly Spending
By lowering your personal spending, you can gain access to additional capital for your company. If you currently pay on multiple student loans, it’s a smart move to refinance to a single monthly obligation. The savings can easily be redirected into business-related marketing and advertising campaigns. In nearly every case, promotional spending represents the best use of capital for a for-profit enterprise. An education loan refinancing agreement can shave a significant amount off monthly cash outflow. Not only do most refinancing arrangements come with more reasonable terms than original loans, but they can also offer lower interest rates.
3. Guest Blogging
Guest Blogging is highly recommended for Customer Acquisition Plan. Guest blogging is a low-cost way to attract new site visitors and buyers and build brand recognition. Contact three popular blogs per week and offer to write guest content for them. Most will accept your offer and allow you to include tag lines like your name, company, and email address at the bottom of each piece.
4. Keyword Ads
Invest carefully but consistently in online keyword ads. Many pay-per-click and similar arrangements can bring in a steady stream of visitors and do wonders for bottom-line sales figures. However, it’s essential to regularly evaluate these efforts based on a strict cost-benefit analysis. Don’t spend more than you expect to bring in. Likewise, use small ad buys to test particular pieces for effectiveness.
5. Free Samples, Coupons, and Offers
Free samples are a costly way of bringing potential clients into your fold. Be sure to work with a professional marketing team to choose what to give away and to whom. Additionally, consider less pricey promotions like coupons, special offers, and percent discounts. Once you hit on an effective giveaway campaign tactic, stick with it for a while before changing to something else.