It’s no secret that customer acquisition is very expensive. The cost of acquiring a customer has increased almost 50% over the past five years (HubSpot) and now sits at about five times the cost of keeping a customer. So when you invest your time and money into customer acquisition channels, you should do it right. Limiting the churn rate of customers is important, but even more so the lifetime value of loyal customers is priceless. Luckily, we’re here to help. Here are our ten customer acquisition tips you should focus on in 2019:
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Content, Content, Content
You may have heard the saying that “content is king.” I’d say content is king, queen, and the whole darn royal family. Many companies employ the strategy of offering content of value in exchange for customer emails. For example, a camping company might offer their customers a free packing checklist for them to download and use on their next excursion.
SEO is so vital, you must tailor your content for what/where your customers might be searching for, keeping in mind overlooked practices like search seasonality. Holidays, new year resolutions, weather, and more are all factors you can keep in mind when researching best and most timely SEO strategy. By using tools like Google Insights for Search, you can check the seasonality of your major keywords and get the best ROI from your content.
Optimize Your FAQs for the Long-Tail Searches
Research your keywords and use them to your advantage. One piece of evergreen content that is often overlooked for SEO is your FAQ or help section. By tweaking your FAQs and their subsequent answers to incorporate targeted keywords and topics, you can quickly move your company’s website to the top of search results for long-tail searches of specific questions your target customers want answers for. And, of course, don’t forget to put a clear CTA (call to action) in your FAQs to convert queries into customers!
Track Competitor Mentions
One of the best ways to tap into your competitor’s customer base is by prospecting where and how their customers are finding out about them. Research and understand where your brand and the brands of your competitors are being mentioned, and by who. Competitor mentions in publications or websites are prime opportunities to put on your PR hat. Reach out to writers and introduce yourself and your brand, which can potentially lead new relationships and future links.
Enhance Conversion: A/B Test Everything
One of the quickest ways to lose a potential customer is by not enhancing your user experience. In 2019 where everyone is glued to their mobile devices, checking to ensure that your website is mobile and tablet responsive is imperative. Further than that, be sure to optimize your landing pages and clean up your featured content, especially your calls to action.
A great way to get the most value is to A/B test the key portions of your site. This includes trying various landing pages, product pages, and even shopping cart options in an effort to see what’s best at converting prospects into customers.
Customer Loyalty & Retention Strategies
Tap Into Your Loyal Customers
Who better to advocate for your company than happy customers? Rewarding for things like when your customers do purchase items makes them so much more likely to purchase again. Implementing a loyalty program that can promote unique incentives, social media sharing, photo contests and more are all ways you can tap into your own customer base and grow organically.
According to a 2018 study by HubSpot, 81% of US and UK consumers polled trusted their friends and family’s advice over that from a business. Meanwhile, 69% do not trust advertisements and 71% do not trust sponsored ads on social networks. Given this uphill battle against new consumer distrust, consider a push focused on bringing in new customers through existing, loyal ones.
The Word of Mouth Marketing Association reports that every day in the United States, there are approximately 2.4 billion brand-related conversations. Chances are your satisfied customers are already talking about your brand; the next step is how to best leverage their recommendations.
The statistics are clear: 92% of consumers trust referrals from people they know and people are four times more likely to buy a product or service when referred to it by a friend (Nielsen). Implementing a Refer-a-Friend program into your customer acquisition strategy is a no-brainer, and Annex Cloud can help you with that. Our Refer-a-Friend solution helps you build and grow one-to-one connections with your customers, empowering them to share your brand directly with their friends and family.
It’s no surprise that the modern world is heavily driven by visual marketing. Between the omnipresence of social media and other digital forms of communication, what we see heavily influences what we think. However, Visual Commerce is no longer just posting pretty product photos or investing in vibrant advertising billboards, it’s largely driven by user generated content. According to the Center for Generational Kinetics, 86% of millennials consider UGC to be a key indicator in the quality of a brand.
Annex Cloud’s Visual Commerce solution creates channels for companies to better collect, utilize, and influence the creation of UGC. Thus encouraging customers to share more and engage with the brand. 63% of shoppers trust customer photos more than brand or retailer photos, so Visual Commerce boosts conversion by offering trustworthy customer pictures that inform, inspire, and influence customer purchasing decisions.
Leveraging Your Network
Influencers + Affiliates
Getting influencers into your product or service early can pay dividends down the line. Don’t target just any influencer with followers though. You should research and find influencers in your space who are highly aligned with your brand values. Influencers with engaged followers – who actually care and take action based off of others’ recommendations – will bring the most value to your brand.
Like influencers, bloggers, press and other credible websites are often willing to promote your products or services in exchange for commission on anything sold through their recommendation. Luckily for you, Annex Cloud’s Influencer Marketing platform can help you manage all of that.
Brand Partnerships + Distributions
One of the easiest ways to immediately expand your reach to an entire group of potential customers is by partnering with another brand that has a similar target audience. This endeavor is especially easy for e-commerce brands, it can be as simple as determining the offer, exchanging custom URLs to cross-promote to each customer base, and deciding on a distribution method. This can be anything from an email marketing campaign to your respective subscriber lists, to establishing a partner webpage with all the details of the joint promotion, sharing on social media, etc.
A tailored email marketing strategy can be highly effective for both customer acquisition and retention. Capturing the emails of potential customers through various content offerings, such as case studies, infographics and whitepapers is one strategy many companies use to grow their subscriber lists. But what’s next?
Acquisition email campaigns can fast-track your efforts for bringing on new customers, but only if you’re strategic about it. Making sure your email subscriber data is clean and up-to-date is also critical in ensuring future email marketing success. No one likes poor quality emails, and even worse they can land your company on spam blocklist, which can massively hinder future email marketing efforts.
Email marketing is also an excellent supplement to your other customer acquisition strategies. Use it to complement and optimize those strategies by integrating other efforts into your email campaigns. Promoting your referral program, integrating social media buttons for easy sharing, highlighting visual commerce, advertising brand partnerships and sweepstakes are all examples of strong email marketing crossovers.
Time to Take Action
Are you thinking of revamping your customer acquisitions strategy? Well you’ve come to the right place. With years of experience at the forefront of referral and loyalty marketing, Annex Cloud is an industry leader in designing successful customer acquisition programs for hundreds of retail companies. Talk to us at Annex Cloud today!