3 Ways to Improve Your Customer Acquisition Process
The customer acquisition process is one of the hardest things marketers have to face. It’s the primary goal of all of our efforts: to reach potential buyers and engage them with content that builds a relationship in order to convert them to new customers and eventually brand loyalists. There are some scary statistics out there. Invesp illustrates in this great infographic that it is 5 times more expensive to acquire a new customer than to retain an existing one.
With statistics like that being thrown around, it can seem overwhelming to improve your customer acquisition process without blowing your budget. Don’t worry, because there are some other facts about customer acquisition that you can find comfort in. Let’s explore three strategies to improve your customer acquisition methods without investing too much of your budget in the efforts!
Did you know that interactive content can increase your conversations by 34% over static campaigns? That’s the kind of boost in customer acquisition that proves the value of marketing efforts and shows a return on investment that accounting teams are looking for! The best part is that the perceived hurdles to implementing interactive content are easy to overcome. The fears about interactive content being expensive to produce, timely to create, and hard to track are simply myths.
Brands in the construction and home improvement industries have found great success incorporating interactive content like expense estimators and online classes in specific tasks. These forms of interactive content drive the customer acquisition process by addressing the consumer’s needs at the right time, and providing a solution. Simple calculators and courses regarding your products are not hard to create, and you’ll see a huge boost in conversions.
Customer acquisition can be hard because you’re attempting to begin a new relationship between your brand and a stranger. Potential customers are flooded with a vast number of messages across all forms of media every day. Content fatigue is a real affliction of the modern consumer! Personalization cuts through this haze of marketing messages and captures the reader by fostering a sense of familiarity.
Clothing company Modcloth has found success in personalization by taking a note from social media and allowing shoppers to “favorite” or “like” items that they enjoy. This allows them to build a virtual wish list within Modcloth’s website and gives Modcloth the ability to send customers targeted personalized emails based on their clothing preferences. Making moves to foster a relationship with your potential customers will go a long way in terms of the customer acquisition process.
Capturing the reader’s attention is the core component of the customer acquisition process. With so many companies vying for our attention and space in our inbox, standing out from the crowd and grabbing the recipient’s attention become of the utmost importance. Without that spark that gets them to engage with your message, all your efforts will fall flat and find their way into the virtual trash bin. Luckily, by remembering some key marketing psychology principles like curiosity, we can grab the attention of our recipients and drive customer acquisition.
Two marketing professors found that generating curiosity about a product can be accomplished by creating campaigns that only provide partial information. The curiosity inducing campaigns increased the consumer’s motivation to seek out more knowledge and made the recipient more likely to remember the incomplete information. Motivating your recipients to act by piquing their curiosity can improve customer acquisition and ensures your messages stand out in the sea of marketing modern consumers are exposed to.
By implementing one or more of these methods, marketers can conquer the customer acquisition process and improve upon existing strategies. Applying overarching psychological principles or general strategies to the construction of your campaigns will help drive conversions and improve customer acquisition metrics!