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Customer Acquisition

customer acquisition

Customer acquisition is the process of driving a potential business prospect through the marketing funnel and getting them converted into a customer. Sometimes a user reaches the end of a sales funnel but does not buy. These users are called potential customers. A targeted approach to customer acquisition focuses specifically on potential customers.

Once a user buys from your business, he is reintroduced to the sales funnel by the process of customer retention and reacquisition.

However, it is not easy to acquire customers on online platforms. There is cutthroat competition for consumer attention on online platforms. According to a report HubSpot published, 65% of consumers don’t trust advertisements and 71% have no faith in sponsored social media posts.

The lack of consumer trust has made customer acquisition comparatively challenging. Digital marketers must create a comprehensive customer acquisition strategy to stand out from the competition and grab customer attention.

What is a customer acquisition strategy?

A customer acquisition strategy is a business approach to its target audience to convince them to buy their products. It provides a step-by-step itinerary to acquiring customers and achieving business goals.

A customer acquisition strategy requires businesses to leverage audience data to understand consumer behavior. Organizations can use it to understand customer queries and provide potential solutions.

The data obtained from consumer analytics enable businesses to locate the channels their target audience uses to make a business interaction. Depending upon the audience preferences, there are multiple channels organizations can utilize to execute the customer acquisition strategy and achieve their business goals.

Potential online marketing channels businesses can utilize to execute their marketing strategy:

  • Search Engine Marketing
  • Social Media Marketing
  • Email Marketing
  • PPC marketing
  • Content marketing

How to come up with a customer acquisition strategy?

The data HubSpot published shows the complexity of acquiring consumers on online platforms. However, it doesn’t mean that there is nothing we can do about it. The main thing to focus on here is to put thoughts into the customer acquisition strategy.

Here are some of the tactics businesses use to frame a comprehensive acquisition strategy and attract their target audience.

  • 1. Define your target audience:-
  • Your target audience is the potential business prospects most likely to convert to your offerings. These are people that may require the products and services you are offering. Your product might be a solution to a specific set of people. You must put effort into finding your target audience and focus your customer acquisition efforts specifically on them.

How to find your target customers?

The answer to this question is market research. Focus on the consumers of the established businesses in your niche. Run a thorough audit on the consumer base you already have and define your target audience to the exact detailing. Some of the essential attributes for defining your target audience include age, demographics, and gender.

It also provides insights into essential marketing techniques to lure visitors to buy your products. Conduct complete market research to determine tactics that established businesses in your industry use to grab their target audience’s attention and achieve their business goals.

  • 2. Determine the acquisition channel:-

    Your preferred acquisition channel is the one most preferred by your target audience to interact with your business. It is essential to locate your target audience before beginning to acquire them. You must research the platform according to the target audience attributes you acquired in the previous step.

    However, it is not as easy as it sounds. It might require experimenting before determining the most appropriate platform for customer acquisition. There might be multiple sound platforms based on the target audience analytics. Experiment and find the best online marketing platforms for customer acquisition.

  • 3. Create quality video content:-

    Videos are the preferred content choice of consumers on social media. It is the easiest way of conveying information. It requires the least effort on the consumer’s behalf to digest the information provided in a video. Above all videos is an entertaining mode of information convention.

    Leverage short but informative video for your social media handles, and create long-interval videos for video-specific platforms like Youtube. It will help you tremendously increase your reach and connect to your target audience.

  • 4. Giveaways:-

    Giving something away for free is the easiest way of grabbing consumer attention. One of the examples of free giveaways is reliance industries. They gave away millions of internet-enabled sim cards for free to acquire consumers. Soon they became the most prominent network company and earned more than what they spent on the giveaways.

    Try to find creative ideas to lure your consumers with your services, look for ways to build trust in your target audience.

    • 5. Frame a content marketing strategy:-

      Content marketing is the easiest way to build trust in your target audience. It is the process of finding the queries your target audience has in your niche and framing content to resolve them. It enables direct access to your target audience. However, you must leverage the quality and uniqueness of the content.

      Focus on all potential customer acquisition channels and create content to provide an omnichannel marketing experience to your potential business prospects.

      • 6. Focus on SEO:-

        With several established competitors creating high-quality content won’t take you anywhere. You must focus on effective SEO strategies to provide exposure to your content. SEO is essential to enable your content reach to potential business prospects.

        Focusing on the technicalities of your website enables search engines to navigate your website and index it. On the other hand, backlinks enable off-page exposure to your content. Your SEO and content marketing strategies must work together to ensure the success of your customer acquisition campaign.

          Conclusion:-

          Loss of consumer trust in businesses has made it challenging for marketers to acquire customers. It requires them to be more creative and leverage unique tactics to lure their consumers. Your consumer’s experience with your business is one of the principal factors for them considering buying your products. Focus on creating high-quality content and improving user experience to increase the rate of customer acquisition.

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