Leading customer acquisition strategies to try in 2022


Date: 20 January 2022

A customer makes a purchase

Customer acquisition is the process of bringing in new customers - and you could argue that it's essential for all businesses. It basically convinces people to buy into your products or services, and hopefully, carry on doing so in the future. There's something known as the marketing funnel - the process of moving consumers from brand awareness to purchase - and customer acquisition is right at the start of it.

Sadly, it's a well-known fact that the cost of acquiring new customers is far more expensive than retaining them. That's why there's such a focus on acquiring loyal, repeat customers rather than one-off-shoppers. Read on to discover brands leading the way with customer acquisition.

Acquisition marketing

Acquisition marketing is at the top of the marketing funnel that we mentioned previously. The focus of most marketing campaigns will be on acquiring new customers (acquisition marketing) by spreading brand awareness - and it varies from other forms of marketing. It's targeted towards people who are already aware of your brand and are considering purchasing one of your products or services.

It's a relatively simple process in the sense that how to do it is black and white. There are various acquisition channels to explore that we'll discuss in the next section. These channels open up a pathway for communication, advertising, and resolution.

Seamless checkout experiences

Who doesn't want a seamless checkout experience? One trend emerging at the minute is the ability to pay using a cryptocurrency - a form of digital currency that millions of people invest in worldwide. Companies like Tesla famously announced they would allow people to pay using specific cryptocurrencies in 2021.

Thanks to the evolution of crypto and trading platforms users can discover the best staking crypto, best trading patterns, and best coins to invest in and can make more than ever from cryptocurrency.

That's why it makes sense to allow the checkout experience to be more diverse and inclusive - introducing cryptocurrency as a viable payment method opens up a new channel for customer acquisition.

Another tool in your arsenal is to introduce speedy checkouts. Amazon famously introduced their 'buy now' payment feature, which allows customers to skip the part where they add an item to their basket, review the order, then proceed to checkout. So long as your customers have a registered account - which many will sign up to during the acquisition process - they can purchase products at a click of a button.

Acquisition channels to explore

As mentioned above, acquisition channels are more than just a way to acquire new customers. They're a lifeline for your business as they spread brand awareness and openly communicate with customers. It's no longer sufficient to send a flyer in the post or a generic email. Consumers want personalisation, they want instant communication, and want to see a brand for what it is.

How do you see a brand for what it is? Social media is one of the best customer acquisition channels because 83% of shoppers check out a brand's social media page when making their purchasing decisions. Companies can explore paid and organic advertisements. Paid advertisements involve paying an influencer to promote products while organic advertising would involve a brand posting their own content for promotion. Organic content is the best for customer acquisition.

According to HubSpot, Facebook is still the best social media platform for ROI - potentially because Facebook has integrated business features that promote content across the platform.

Other channels to explore include content marketing and blogging, video content, and email and search marketing. Video content is the up and coming star - it's predicted that videos will make up 82% of all consumer internet traffic in 2022. Thanks to the rise of TikTok, video content marketing is an excellent customer acquisition strategy.

The power of follow-up communication

The acquisition doesn't stop when consumers move down the funnel towards a sale - failing to use follow-up communication runs the risk of that buyer being a one-time buyer. Follow-up communication, such as sending an email message when they have made a purchase, is a powerful loyal customer acquisition process.

Loyal customers produce more revenue - acquiring 5% more loyal customers can increase profits by up to 95%. And, two-thirds of future business profits will come from loyal customers. A simple follow-up email offering support or guidance can promote that long-term relationship.

Measuring customer acquisition costs

One thing to consider when focusing on customer acquisition is the cost - because, as we mentioned previously, acquiring new customers is far more expensive than retaining loyal ones. Therefore, it pays to know who much you're spending because it helps you determine your ROI, something investors and CEOs will be eager to learn.

To calculate ROI, you'd divide the marketing costs associated with a marketing or acquisition campaign by the number of customers acquired. To get a complete picture, you must include everything associated with your marketing spend, from the salaries paid to your marketing staff to the cost of the advert you're running on a social media platform, for example.

Customer acquisition is an age-old business tactic that is paramount to brand success. Even though the techniques have evolved, the core values are still the same. Spread brand awareness, appeal to consumers, acquire consumers. How a brand goes about acquiring customers is the only thing that changes.

Copyright 2021. Article was made possible by site supporter Ocere.

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