In order to grow your business substantially, sustainably and profitably, you must have a customer acquisition strategy to induce qualified prospects or leads to turn into paying and repeat customers. A key driver for your business, customer acquisition also measures how much value a customer brings to your business.
The acquisition process begins with identifying potential customers for your business success. If you understand the demographics of your customers and their behavior or preferences, it’s easier for you to develop tailor made marketing strategies. It’s also important to determine the cost of implementing the process and having the right support team to ensure rich customer experience.
As a business owner, it’s important to calibrate your investment in customer acquisition and ensure you’re making the right move for your business growth. CAC is calculated by dividing the total cost spent on acquiring customers (cost of sales and marketing) over a given time period by the total number of customers acquired in the period the money was spent.
While organic marketing works well for most brands, we highly recommend implementing focused customer acquisition strategies like personalized email marketing, retargeting, social media marketing, content marketing and other sitewide marketing techniques.
The Refer a Friend platform allows customers to share your brand with their friends and family. This experience is customized to fit your brands’ needs to engage your customers better. Ability to run omni-channel referral programs combined with comprehensive reporting makes it easy to track and optimize engagement across all referral channels.
For enterprise brands with large influencer base, tracking and management can be quite cumbersome. Influencer Management platform from Annex Cloud allows brands to manage all their influencers, commission structures, and contract durations in one location.
Easily integrate contests and sweepstakes within Referral Marketing platform or our Customer Loyalty platform to reward your customers with contest entries or points. This not only increases customer participation but also helps with expanding your email database and energizing new customers.