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Attracting new customers is a vital necessity for any business. Without constantly expanding your customer base, sooner or later, your company will fail. However, the modern world is so oversaturated that it becomes much more difficult to attract buyers every year.
In this case, do not hang your nose. You can still get new customers in the right amount.
In this article, we will share proven tips to help you achieve your goals and attract as many customers as your business needs.
10 best customer acquisition strategies to grow your business in 2023
1. Pay attention to segmentation
The best thing you can do for your business is to carefully study your target audience. A clear understanding of who your customers are and what they want gives more than you can imagine. At the same time, a huge number of companies spend great amounts of money on mass marketing, offering their product to absolutely everyone. This approach only drains the budget and does not produce the desired results.
Instead, it is better to resort to segmentation. Think about what segments your target audience can be divided into. This will provide personalization for each group, which means your potential customers will receive an effective message that will solve their pain. As a result, you will increase the number of new and potential customers.
For ease of understanding, let’s take an example. Suppose your business is a cosmetics store. The range includes both expensive niche products and budget ones. Logically, their cost is significantly different, which means that buyers are people with different levels of income. You cannot advertise these 2 product groups using the same message. After all, the motives for the acquisition are completely different.
Thus, you can divide your consumers into at least 2 groups. The main motivation for some will be the optimal combination of price and quality, for others – the status and high quality.
You can also see how big brands play it.
In this post, L’Oréal Paris demonstrates one of the benefits of the product. Here, the brand has directed its activity towards members of the audience who are vegans. It demonstrates the following message – “This product is for you, we took care of it”
So, segmentation is a powerful method in marketing that will allow you to reach the depths of the mind of your users and help you show ads to the right people.
Check out: Complete Guide on How to Create a Marketing Presentation
2. Redirect your budget to effective channels
Spending a lot of money on advertising is not equal to a large number of customers. This is true – many companies are wasting unimaginable budgets. To avoid this, it is necessary to keep track of all expenses on various channels.
For the best experience, you may need professional analytics tools with attribution. With their help, you will know exactly where every cent of the advertising budget was spent.
For example, Facebook, Instagram, and LinkedIn are among the top channels to run social media ads for an HVAC business, while Instagram and TikTok might be more suitable for restaurants.
The availability of such information allows you to redistribute money in the most optimal advertising channels. That is, if you see that it is cheaper for you to get a client through one channel, and another only devastates your budget, then you better redirect funds to a more cost-effective source.
3. Form a positive image
You can spend crazy money on advertising, but if your image is not in order, it does not make any sense. Therefore, if you are not already working on a positive image, it’s time to start doing it.
Demonstrate a clear position
Sometimes it is enough to show that you are on the same wavelength with consumers. For example, your target audience is representatives of generation Z. These are people with a clear position, they know what they want from life and do not tolerate compromises.
So, let’s say if consumers are concerned about the state of the environment, you should support them. To demonstrate this, for example, you can stop using plastic in packaging. Such a step forms a positive image and trust to the company.
Provide Physical Evidence
Before contacting the company for the first time, each client feels distrust. To dispel all his doubts, you need to provide evidence of your competence and quality. These can be certificates and testimonials from existing customers. Everything that creates a sense of calm in the consumer. Collect these materials in user-friendly places.
User-generated content works especially well in this case. As people tend to trust others more. This could be product unpacking, usage photos, etc. The format doesn’t matter; it could be via photo or videoThe main thing is to demonstrate customer satisfaction.
4. Build a strong sales team
We often hear stories when a targetologist brings leads, but the company loses them due to poor processing. Or the ad is set up well, but too many mistakes were made in the ad and this negatively affected the conversion.
Both are real problems. This is due to a lack of competence or poorly established processes within the company.
In such a case, you can choose one of two paths. Use additional services or establish work within the company.
Whether you decide to go with in-house staff or outsource, you need to make sure every process is set up right. To do this, you need to constantly monitor.
Also regularly train employees and properly motivate them.
Organize trainings within the company and involve external trainers and educational organizations. Only in this way can you get truly outstanding results.
5. Search Marketing and SEO
SEO is a promising direction for promoting a business and getting new customers. In the long run, organic traffic is significantly cheaper. It is for this reason that its popularity is growing every year. If you don’t use this promotion method, you are missing out on a lot.
A well-thought-out strategy can significantly save your marketing budget and get interested visitors. Unlike contextual advertising, you do not need to pay per click. Each user who visits your site costs you shareware free of charge.
The fundamental difference of this promotion method is that you invest efforts and money now to get results in the long term.
Thus, if you want to start attracting customers through search, you need to start promoting today. After all, the first sales from this channel may appear only a few months after the optimization of your site.
You can do this by creating and optimizing useful content, using relevant keywords, backlinks, etc.
To ensure high performance from activities, it is better to leave the matter in the hands of an experienced specialist. Otherwise, you risk wasting money.
6. Content Marketing
Constantly creating original and unique content is extremely difficult, and in principle impossible. Therefore, one of the ways out of the situation is to update existing content. Just take one or more of the popular articles and make changes to them. A great solution would be to add new relevant research, create infographics or submit an article from a different angle.
This technique is especially relevant for those companies that have a blog and are promoted through content marketing. To be most effective, link to content on your social networks and try to attract new users with paid advertising.
7. Encourage existing customers to attract new ones
One of the most effective ways to attract new customers is to engage existing customers. The fact is that this includes the principle of word of mouth marketing. People are more likely to trust their loved ones and friends, so personal recommendations work better than any advertisement.
For successful implementation, you will need to work on a loyalty system. It should encourage you to talk more about your brand.
Encourage existing customers to share positive reviews and tell their family and friends about you and recommend you. This will allow you to get new customers in a fairly short period and at the same time much cheaper. In general, it is recommended that you track your time spent on customer acquisition, so you know how much time you have to spend on average for acquiring a new customer.
Let’s look at an example and say you are the owner of a beauty salon. To attract new customers, you can provide a discount for a personal recommendation. Say, for each new visitor you bring, give a 10% discount on a procedure. For greater stimulation, the reward should be extended both to the person who recommended it and to the new client.
You can also do this with a giveaway. For example, you can give away your product on the brand’s social media profile. One of the conditions may be the mark of friends in the comments. Thus, you will gather additional attention around you from existing and potential customers.
8. Use Engagement Metrics to Reduce Ad Costs
Every year the cost of advertising becomes more and more expensive. This is due to the high competition at the auction. Under such circumstances, the only thing advertisers can do is work on the quality of their advertisements. This is the only way to achieve the minimum cost per target action. For this, it is necessary to scrupulously analyze key metrics.
Look through all your ads/posts, find the best ones, and try to find a pattern. What is the reason for the involvement and display of interest from users? Perhaps your target audience prefers useful materials or videos that cause a good mood.
Once you understand what successful content holds together, you’ll find the recipe for winning posts.
Remember, the larger your content base, the more accurate your findings will be. Based on them, you will be able to develop your unique and effective strategy to get new customers with the lowest cost per lead.
9. Use retargeting
Include remarketing in your paid traffic strategy. With its help, you will improve the effectiveness of advertising activities. It involves re-showing ads to users who have previously been in contact with your business.
Each time such interaction increases the credibility of the company. In addition, you can send users to the exact page or offer that they were previously interested in, offering more favorable conditions.
For example, the goal of your advertising campaign is to promote an event. The site offers several tariff plans depending on the number of participants. Your analytics shows that the user is interested in one of the packages. For retargeting, you can use an ad with a special promotional code for a discount on a specific offer, which is valid for only a few hours.
Such a technique will push the user to make a purchase in a limited time.
Thus, you will increase the number of conversions and get more customers. So save your budget and use it more rationally.
10. Create Lookalike Audiences
Use the full potential of modern technologies by collecting similar audiences through Meta. How does it work? If you have run ads through this channel before and have had positive results for some time, you can use this tool.
It allows you to find people similar to your audience who are more likely to be interested in your product. And since in most cases the engagement of such users is higher, you can reduce the cost per click and target action.
Meta has a separate tool that allows you to collect custom audiences based on your advertising account data. The platform, using its algorithms, searches for users who share common features.
That is, if your clients bought blonde hair dye from you, Meta can find girls who are inclined to make a similar purchase.
Don’t miss the opportunity to work with a warm audience using this powerful feature.
11. Always consider ROI to make sure that you are benefiting from new customer acquisition.
No matter which strategy you choose, you should always keep track of the cost per customer. Otherwise, you may be wasting your marketing budget.
The fact is that some channels work better for some businesses, and worse for others. In this case, the margin can vary significantly.
And if the cost of a conversion exceeds the earnings, it makes no sense. Only if your business does not provide for monthly subscriptions, upsells, etc.
Remember that in order to calculate correctly, you must take into account all marketing costs, from advertising costs to the salaries of staff from the marketing department.
Let’s say you use Instagram ads to attract customers. One lead costs you $3, and the margin per product is $15. At first glance, it may seem that your earnings are $12. However, if you take into account the services cost of a targetologist, designer, and taxes, it will be much lower. At the same time, not all the costs associated with attracting new consumers may be.
Therefore, it is necessary to draw up a detailed list, where all costs will be indicated. It’s important not to miss anything. Only in this way will you be able to understand how much you earn and whether advertising really pays for itself.
Conclusion
Increasing the number of new customers is critical for most companies. However, not everyone manages to get as many new consumers as required for a successful existence. However, it is possible with the right approach.
Do not limit yourself to only one strategy, combine them and find the most successful ones. It is impossible to say exactly what will work in your business. In order to find a way that will be most cost-effective for you, you need to constantly engage in testing.
Also, don’t forget that acquiring new customers is always more expensive than retaining existing ones. Therefore, be sure to take care of their retention strategy. Work on consumer loyalty and brand awareness. So your marketing costs will be significantly lower with the same results.
Use our recommendations, work in a complex and for the future, and you will succeed.
