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Customer Acquisition: How to (Profitably) Gain New Customers for Your Business

Customer Acquisition: How to (Profitably) Gain New Customers for Your Business

Whether you are a new entrepreneur trying your level best in achieving the first ten customers or a competent expert gaining your 10,000th, customer acquisitions are never relevant. Possessing a strong customer acquisition strategy is an essential component for any business. In the absence of a fruitful and stable strategy, you will have to face serious struggles in growing your business.

However, one of the most difficult parts of scaling a business involves analyzing the most suitable channels for acquiring new customers. Sales remain unpredictable for several business owners, and they feel acquiring new customers is similar to a gain of chance.

The harsh truth about customer acquisition is that there is a lack of trust in businesses. Recently, HubSpot reported about 55% of consumers failed to trust the brand they buy from as they did earlier. About 65% of consumers do not have faith in the advertisements and 71% reported to have lost faith in the sponsored posts on social media.

The clear lack of trust in the brands made the job of marketing and sales teams face more challenges. What’s worse, most companies failed to recognize the underlying problems. Instead, they ended up investing more money into “push” marketing tactics in the hope that they would help them win over the new customers.

However, if you want to grow your business consistently and earn larger profits, you need to think about customer acquisition. You can find the platforms where your customers are active and post content that would grab the attention of the customers. Else, you might fail to benefit much from your customer acquisition strategies. But, before we dive deeper into some of the evergreen tactics, let us focus on customer acquisition.

What does online selling mean?

The other name of online selling is the eCommerce business. This is when your business has an online presence and an online selling service is available on a certain eCommerce website or some virtual groups to sell your product.

Your customers can contact you through these sites or groups on the internet and social media platforms and you sell your product for a reasonable price which will be paid through online payment options too.

Customer Acquisition Tools

Here is a list of some evergreen customer acquisition strategies that you can take advantage of and always gain new customers.

Creating Online Audience

With social media platforms like Facebook. YouTube, Twitch, and Instagram, individuals can attract a huge online audience of potential customers. Firms like SoundCloud and Gym Shark cultivated Instagram followings, thereby becoming online influencers.

You can adopt several ways of building an online audience over social media. Almost all of them require time, consistency, and content in attracting new followers thereby, keeping them engaged. Online following lends your brand authority and helps in creating an audience of customers whom you can reach whenever you want to promote a new product or increase sales.

Use Paid Advertising

Today, online advertisements are a great way to acquire new customers. You might find most international brands are using Facebook, Google, and other such platforms for running their advertisements, as these platforms provide extensive measurement tools, thereby allowing you to optimize your advertisements and obtain the most out of your budget.

When it comes to advertising, Google Ads and Facebook Ads are the greatest providers for paid traffic. Almost every marketplace, social platform, or search engine you think of offers the option to the business to buy ads. However, you need to understand the best place to run your advertisement requires analyzing your potential customers and where they spend time online.

Although each of the platforms comes with its particularities, yet all of them charge for user impressions (number of times views view your ad) using a metric called CMPs (cost per one thousand impressions). Besides, they allow their advertisers to choose who they want to target based on demographics, interests, and other traits. With the help of the targeting parameters provided by the online platform, you can easily narrow down your prospective customers and acquire them through paid advertisements.

We Do use Facebook Ads For Vootmart As Well.

Negotiating Influencer Sponsorships

If you have a marketing budget, you can quickly produce your product or brand to your potential consumers by paying someone for the promotion of the brand and product. Influencer marketers such as Instagrammers. Bloggers and YouTubers became a popular form of online advertising.

The success of influence marketing involves the acquisition of the right influencers in promoting the products and brands. The challenges involve the identification of the active audiences, engaged in following who would be interested in the product as well as possessing creative ability in producing content reflecting well on your brand.

Preparing an Email List

Lead generation is the first step in customer acquisition. Generation of leads involves the collection of information from potential customers for converting them into final customers. Often, most first-time visitors are reluctant in purchasing the product on the spot.

Collecting email addresses forms one of the best investments towards lead generation for effective customer acquisition. Preparing an email list generates revenue for the business. According to the data from Campaign Monitor, approximately 59% of marketers surveyed reported receiving maximum ROI from email.

You can adopt plenty of ways in building an email list, right from driving paid traffic to a page with an email capture form to offer a welcome discount for the new subscribers on your website. After preparing the email list, you can run email campaigns and set up automated emails to send targeted messages to your list. You can send them messages through an email marketing service like Klavoyo or Omnisend. You can send personalized or triggered emails based on the behavioral data in helping you turn leads into customers.

Starting a Referral Program

A personal recommendation or a friend and family goes a long way. Several studies conducted have shown word-of-mouth referrals are the best forms of marketing. People trust those people, brands, and businesses they know. Hence, when a friend tells them to check a new product or brand, they listen.

Search Engine Optimization

While you are looking for a product or service, most consumers begin their search with Google. Creating website content that helps your brand show up in Google search results for relevant queries is SEO or Search Engine Optimization. Conducting keyword research and implementing findings into a content strategy for your website pages and blog help your business help in achieving higher rankings in Google. Higher search rankings bring more traffic filled with potential customers to your website and business.

Conclusion

While customer loyalty and repeated purchases are the most important element in the overall health of your business. Customer acquisitions help in attracting new customers through effective customer acquisition strategies that would help your business grow beyond your current base. You need to know the channels that would work effectively as a customer acquisition tool for your business. Identification of channels involves continuous testing of new channels and approaches, analyzing what works the best for your business, and prevent you from relying on a single source.

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