To be successful in business, you need a strong customer base. Having a reliable and satisfied customer base is key to any company's success. To get more customers, you need the right tools. Here are some tools you can use to acquire new customers for your residential home service company. Acquiring new customers is vital for businesses for several reasons. First, it helps to increase revenue. Acquiring new customers will also help to increase brand awareness and brand loyalty as long as you treat ‘em right. Businesses should keep a few things in mind when acquiring new customers. They need to identify their target market, segment their audience, and create a compelling offer to attract their target market. They also need to have a solid plan for how they will reach their target market and generate interest. Customer acquisition is a crucial part of any business seeking to grow and be successful. A business without customers is a hobby. By mixing in different methods, companies will sell their target market.
A Business Without Customers?
All businesses need customers. Every business owner must come to terms with this inescapable fact. No customers mean no one with whom to sell your product or service. And no business can survive without revenue. Therefore, acquiring new customers should be a top priority for any business owner. Acquiring new customers is a process known as customer acquisition. There are several different methods to acquire new customers, but the most common and effective is the customer acquisition funnel. The customer acquisition funnel is a process that businesses use to identify potential customers, convert them into prospects, and then close the sale. The funnel begins with awareness, in which potential customers become aware of your product or service. Next comes interest, in which they develop an interest in what you have to offer. Next is a decision, in which they compare your offering to others on the market and decide on your company over others. Finally, there is action, in which they pick up the phone or fill out a form to book an appointment. A customer acquisition funnel is an essential tool for any business owner looking to grow their business. By understanding the client acquisition process, you can ensure that your business always acquires new customers and generates revenue. The customer acquisition process is essential for any company seeking to grow and be successful. It can be defined as the process of bringing new customers or clients into your business. There are many different ways to acquire customers, but most companies will use a mix of methods depending on their products or services, target market, and budget. The most common client acquisition methods include advertising, referrals, lead generation, and public relations. If you’d like some help with acquiring customers that will make your business successful, book a call with Wizards of Ads™ today!
Top 5 Customer Acquisition Tools Available in the Market Today
As a business, your primary goal is to acquire customers and grow your revenue. To do so, you need the right tools in place in reaching your target audience and converting them into paying customers. Several customer acquisition tools are available today, ranging from simple online ads to more complex marketing automation platforms. The right tool for your business depends on your specific needs and goals. Here are 5 of the most popular customer acquisition tools available today:
Unbounce Conversion Intelligence™ is one of the leading platforms and tools for landing pages and other conversion assets for your business. Landing pages are quintessential for lead generation and customer acquisition. Unbounce makes it so you don’t have to have skills in digital development, it does it for you. Using their highly-recommended drag and drop builder for doing this. Split testing, SEO, form creation, metrics and analytics, and more.
Certain tactics and strategies used in your digital marketing and business campaigns are all fine and dandy when generating leads and a customer base for your business. But how do we know what tactics are working? Or how do we know how well they're working? We want the success to keep on keepin’ on, don’t we? It’s vital to know what works and what doesn’t. This is where Hotjar comes in. Their words nail it best when they say “ what’s best for your users and customers is best for your business.” Hotjar’s interactive heatmaps track clicks and sessions and show you what your customers are feeling and why they are behaving in specific ways. How are these leads converting? Is there a problem in your customer acquisition funnel? Are there issues with your product or solution? Hotjar will tell you and allow forms analysis, surveys, conversion funnels, data analysis, and so much more.
Another vital part of your digital marketing and business campaigns will be email marketing and nurture emails. But for many businesses, success in email marketing can be elusive. That’s where Mailchimp comes in. Mailchimp allows you to automate all of your email sequences, from the first touchpoint to post-purchase follow-up and everything in between. You can segment your lists based on certain criteria, meaning that each person on your list is getting the most relevant emails possible. And because it integrates with so many other software platforms, you can use data from those platforms to improve your email campaigns. If you’re not using Mailchimp or some other email direct marketing tool for your business, you should be.
Interactive content is the new black in marketing. If you’re not using it, you’re missing out on engagement, leads, and conversions. Outgrow allows you to easily create interactive quizzes, calculators, polls, and more to get people engaged with your brand. Not only that, but Outgrow also integrates with Mailchimp, so you can automatically add leads to your email lists. If you want to take your content marketing to the next level, start using Outgrow. You won’t regret it.
If you’re not using Drift, you’re missing out on one of the most powerful tools for generating leads and closing deals. Drift is a live conversational marketing platform that allows you to talk to prospects and customers in real-time. It’s an incredibly powerful way to build relationships, close deals, qualify leads, and book appointments. There’s no reason not to give Drift a try. It’s the best way to increase conversions and close more deals.
Steps in Creating a Customer Acquisition Strategy
Creating a customer acquisition strategy takes steps. Think of it this way: Imagine you're following a trail through a forest and come upon a cottage. You want to get to the cottage, so you walk along the path. But then you see a fork in the trail. One path goes off to the left, and the other goes off to the right. What do you do?You could take either path, but, chances are, you'll want to pick the one that will get you to your destination more quickly. The same is true when creating a customer acquisition strategy. You need to take steps that lead you to your goal: acquiring new customers. Thankfully, you can do a few kinds of calculations to determine which path is more likely to succeed.
Customer Acquisition Cost (CAC) Calculation
The customer acquisition cost (CAC) calculation is the most important for your business. This number tells you how much is the cost per acquisition of a new customer. And it's essential to understand whether or not your acquisition strategy is working.
- CAC = Customer Acquisition Cost: In calculating CAC cost, take your total marketing expenses for a specified period of time, or we'll call that Marketing Costs (MC for short). Then divide that by the number of new customers acquired (or CA for short) during that same period.
The formula looks like this: CAC = MC / CAFor example, let's say you spend $100,000 on your marketingin a month and acquire 100 new customers. Your customer acquisition cost would be $1,000. This metric is important because it will give you an idea of how much money you're spending to acquire each new customer. If your acquisition rate is too high, it will be difficult to scale your business and be profitable.MC = Marketing Costs: Your MC can include online and offline marketing expenses. That can include:
- Paid ads
- Content marketing
- Email campaigns
- Trade shows
CA = Customers Acquired: As mentioned earlier, CA is the number of customers you acquire in a given period. This metric is important because it will help you track what is acquired and your progress and growth.
Create Buyer Persona
You'll also want to create a buyer persona for your customer acquisition strategy. A buyer persona is a fictional representation of your ideal customer. It takes into account demographics, behavior patterns, motivations, and interests. Creating a buyer persona will help you better understand your target market and how to reach them. By understanding your buyer, you'll be able to create marketing campaigns that appeal to them.
Create Acquisition Strategy
After you understand who your target market is and what they desire, it's time to create an acquisition strategy. Using multi-channel marketing makes the most sense, allowing you to reach your target market through several acquisition channels. Just be careful to not bite off more than you can chew. Unattended channels will cause more harm than good. Some of the most popular acquisition channels include:
- Content Marketing: Content marketing is a strategic marketing approach focused on creating and distributing valuable, relevant, and consistent content. The purpose is to attract and retain a clearly-defined audience and, ultimately, to drive profitable customer action.
- Live Chat: Talking to your customers live is a great way to get feedback and answer any questions they may have about your product. It also allows you to build a relationship with them and create a rapport.
- Email Marketing: Sending emails to your target market is another wonderful way to keep them updated on your product or service. Use email marketing to build loyalty, cultivate relationships with customers and prospects, and drive the easy conversions.
- Referral Programs: Referral marketing is a type of word-of-mouth marketing that encourages customers to refer your product or service to their friends and family. You can produce referral marketing through referral programs, links, or influencer referrals.
Test Results and Analysis
After you've created a customer acquisition strategy, it's time to test it. Test results will give you insights into whether or not your plan is working. Analysis of the results will help you understand what's working and not, so you can make adjustments accordingly. Adjustments might look like changing the offer, altering the copy or creative, or adjusting the targeting. Keep in mind, it takes time to see results from a customer acquisition plan, so don't give up too soon. When you're happy with your customer acquisition strategy results, it's time to scale. Scaling means growing your customer base by increasing your marketing budget or expanding your reach. Customer acquisition is a crucial part of any business' growth strategy. By using the right mix of marketing channels and tactics, you can find and attract new customers who will stick around for the long haul. Acquiring new customers can be tough. First, you have the task of finding them, then you have to figure out how to keep them happy and engaged. But fear not! With a proven methodology and a powerfully creative message, you will find the right mix of strategy and creative copy to help you acquire new customers and grow your business fast. Thankfully, we Wizards of Ads™ have the know-how to do just that. Book a call with Wizards of Ads™ today.