Am I investing in wrong channels to find the right customers?
If after investing a large budget in your marketing operations you are still unable to generate leads, you should ask this question: Am I investing in the wrong market? and how can I find the right market?
The customer acquisition is not a linear or predictive streamlined process, but it still needs a proper and thoughtful planning.
For a growing business, there are a couple of tips and tricks you need to know to make new customers and to engage them with you for a long term without running over your budget or investing in wrong channels. Here I share my ideas how to plan a scale able and dependable strategy for customer acquisition.
Having a generic plan to on board new customers is essential, which include:
- Accounting of the platforms
- Success metrics
- Timeline
- Manpower
Always Be Prepared ….. It matters!!
In startups irrespective of the size of the team, resources, and the budget each employee should understand your acquisition process and their short and long terms roles in on-boarding. You will be able to respond quickly to the glitches; for example if the user encounter an unexpected error in registration or sign up process. The development team is needed to resolve the issue on immediate basis. Also your customer representative team along with communication and marketing people are supposed to give a quick response to the complaint of customers on chat portals and social media and engage them in a proactive manner about the services and efforts to fix the problem.
Determine Your Cost of Customer Acquisition
Cost of Acquisition (CAC) actually outline the cost of all your sales and marketing expenditures based on the number of customers you have acquired over a certain period of time. Having a strong estimate of your CAC will defiantly be a plus point in your plan. To work with a low and reduced customer acquisition cost use analytical tools to evaluate your cost and so that you can avoid over spent cost in this regard. Free and low cost channels like search engine optimization and social media platforms can make you find customers in an economical way.
Producing Demand
Define your audience and then let them know that you exist in the market, explain why should they care to buy your products or services, tell them how you are different from other vendors, highlight the potential benefits and make it easy for them to convert to your brand from their previous one. The marketing team needs to broaden the view beyond simple product marketing and must generate a swift and steady stream of leads every month.
Create Value
For small enterprises to retain customers added values are an important approach that should be implemented in your customer acquisition. Focusing on customer’s perspective and needs, you should work with a motto of help instead of benefits. Customer’s satisfaction is a sure shot way to keep customers coming back to you again and again. Ask for your customer’s needs and concerns on regular basis and give them an experience helpful enough to build a long term relationship.
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