So, what does a successful first date look like for you?
For me, it involves attracting your date with your charm and character.
And you'll know it's a successful date when you get a second one.
Do you have the same answer?
If yes, then you know what the customer acquisition process looks like.
Like a date, it's all about getting your target audience's attention.
And, of course, converting them into paying customers of your product or service.
Unfortunately, much like a first date, your customer acquisition efforts will cost you — a lot.
Plus, there is no one-size-fits-all acquisition strategy. What works for other brands won't necessarily work for you.
Do all these mean you should just... give up?
Of course not!
Read on to learn what customer acquisition is all about, and how you can vastly improve your strategy that works in 2022.
First, let's answer the question...
What Is Customer Acquisition?
Customer acquisition is the process of bringing in new customers to your business.
The process includes identifying your prospective customers. It also means tending them through your sales funnel, up to them converting.
To have a customer acquisition strategy in place means you have a system to attract and get new customers. This, in turn, will help your business' growth.
To give you a better idea, let's take a look at...
The Customer Acquisition Funnel
Think of your customer acquisition process as a funnel. Each stage on your sales funnel describes what your customer goes through in their buying journey.
Let's go over each stage of user acquisition:
- Awareness. Your target audience learns about your brand for the first time. This can either be through your marketing efforts or their own bidding.
- Interest. Your potential customers learn what makes your brand different from your competitors.
- Consideration. New prospective customers visit and interact with your eCommerce store. They get more familiar with your products or services.
- Intent. Your target customers start adding products to their shopping cart. They may also watch more videos about your brand to learn more.
- Evaluation. Your customers will weigh the benefits of their purchasing decision.
- Purchase. Your target audience becomes new customers when they finish their transaction.
To make it simpler, you can split the process to acquire customers into three stages.
The first step is lead generation. Next to it is lead nurture, then sales.
The whole funnel is your entire user acquisition process.
You might think that the ultimate goal of improving your customer acquisition is to get more sales.
And you're right!
But for you to do so, you need to generate more revenue than the cost to acquire new customers.
And you'll calculate your customer acquisition costs in the next part...
How To Calculate Your Customer Acquisition Cost (CAC)?
Your customer acquisition cost measure how much you spend when converting your target audience into new customers. That includes the cost of your marketing efforts.
Here's how you calculate your CAC:
For example, you spent $4,000 on your marketing campaigns. With it, you acquired 200 new customers. So, your customer acquisition costs is $20.
As you can see, customer acquisition cost also shows the profitability of your marketing strategies.
That means reducing your CAC means you are using your marketing budget more efficiently.
So... more profits for your business!
Need more reasons to create a solid customer acquisition strategy?
Let's find out...
Why Do You Need A Customer Acquisition Strategy?
With a successful customer acquisition strategy, you can gain more revenue for your brand.
It also shows your brand's growth. With more customers you attract, your business also gains more traction on your visibility.
When you improve customer acquisition, you can also persuade your existing customers to purchase more.
Plus, you can reinvest, and who knows -- more business opportunities for you as an eCommerce brand owner!
How exciting is that? Let's go ahead and find out...
8 Evergreen Customer Acquisition Strategies To Convert New Customers
1. Define Your Target Market
You need to ask yourself, "Who, exactly, is the right audience for my business?"
Your product or service may be the solution to a particular group's problem. So, you need to learn who they are. It will help you focus on their needs better.
Remember, not all consumers are your target market. You'll only waste valuable resources when you focus on the wrong type of consumers.
Here is how you can define your customer base:
Conduct market research. Look into who you can market your product or service. That way, you can also learn how to market to your newly-acquired customers.
This customer acquisition strategy will be your foundation moving forward.
The best customer acquisition strategy also needs to...
2. Diversify Your Strategy With Different Customer Acquisition Channels
Once you find your ideal customers, you also need to know the right way to approach them.
And the best way to find the perfect customer acquisition channel?
For instance, you can diversify the digital marketing channels you currently use.
Look into email marketing, social media marketing, search engines, content marketing, etc.
When you use different channels to acquire new customers, you'll have a better chance of reaching new consumers.
Before you start experimenting, it will be easier if you define the goals of your campaign. Doing so will let you know if your strategies are working or not.
Out of all the customer acquisition methods, don't forget to...
3. Establish A Referral Program
You can ask your loyal customers to refer your brand. That includes hyping your brand to their friends and family.
So, you can incentivize your existing customers and new ones through discounts or other gifts. With it, they can refer your product or services to people around them.
That extra nudge through a referral program helps your customer acquisition strategy even more.
To help you out, you can use Debutify's Social Discount Add-On.
It will reward your customers with a discount code when they share your products on social media.
Besides referral programs, one of the best customer acquisition strategies you can do is...
4. Create High-Quality Content
Did you know that your customer acquisition strategy is only as effective as your content marketing's quality?
Let me explain.
To acquire new customers, getting their trust is the first step.
And when they see a clunky and cluttered eCommerce store, that would make them feel dubious about the credibility of your brand.
But with high-quality content marketing, you can establish your brand as a leader within your niche.
And customers trust industry leaders!
There are ways multiple channels can establish yourself through your content marketing efforts.
For instance, you can start with a blog post for your business. You can also share valuable content on your social media accounts. White papers are also a good way to encourage customers to trust you.
Here's the main point... Creating engaging and useful content can improve your customer acquisition, and can also gain your customer loyalty.
Your website traffic can also be a part of your customer acquisition strategies, so make sure you...
5. Optimize Your Landing Pages
Think of it this way...
Your landing pages are like the opening number to your main production... your products or services!
So, your web pages should excite your customers through enticing calls to action. It should also seamlessly incorporate any content you add to it.
Try to make changes to your CTAs, fonts, and other elements of your landing pages.
You'll have customers acquired in no time!
When we talk about effective customer acquisition strategies, we can't leave out...
6. Prioritize Social Media Marketing
It shouldn't come as a surprise that social media (or digital marketing as a whole) is one of the best customer acquisition channels out there.
Plus, there are a lot of social media platforms you can choose from.
You can start with no cost at all. Utilizing organic social media can improve your brand awareness. Word-of-mouth marketing can also give you the chance to go viral.
But there are also paid ads you can consider. It's a foolproof way to reach your niche target, even without a throng of followers.
Lastly, don't underestimate the power of social media influencers. In fact, 61% of consumers trust product recommendations from influencers.
Through influencers, you can also reach other audiences that you can turn into paying customers.
A great customer acquisition strategy you can add to your arsenal is when you...
7. Leverage Video Content
Have you noticed how video content is all the rage these days for businesses?
That's because it's proven effective!
After all, people are highly visual learners. With video, you can efficiently inform prospective customers about your brand. And make it entertaining, too.
Incorporate your video content as much as possible. That includes posting it on your social media channels and your website.
Last but not least, you need to...
8. Focus on Email Marketing
Sounds too outdated?
Let me tell you, email marketing is still one of the most powerful customer acquisition strategies you can use.
It also helps with your customer retention. You can send an email to new and existing customer alike. That way, you can retain customers you have already acquired.
Consider offering incentives in your email. Also, add a call-to-action button for the action you want your audience to do.
For example, add a "Follow" button where users can follow you on Facebook or Instagram. You can also ask for customer testimonials from your existing customers.
Aaaand that's how you acquire customers in 2022!
All you have to do now is...
Watch Your eCommerce Business Grow!
Remember... Customer acquisition can make or break the success of your business.
Ultimately, it's all about putting your customers first.
Once you successfully launch your customer acquisition strategy, you'll see a decrease in your customer acquisition cost. And an increase in your customer lifetime value, as well.
Here is one last tip that can tremendously improve your customer acquisition...
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