Customer acquisition refers to the set of methodologies, strategies and practices by which a prospective lead is effectively converted into a customer. It is the capacity of a business to influence the purchase decision of customers positively in its favour. Some strategies for capturing fresh market share within the budget of small firms have been discussed.
In other words, customer profiling refers to segmentation of the market and drilling down into each effective customer and analyzing the background, demographics and buying patterns of each such customer.
- The entire target market is identified and is fragmented into various groups that share specific interests. This becomes the basis for personalized marketing in the future.
- By investing in a free or low-cost CRM software, it is possible to group leads or customers into like-minded groups so that selective marketing can result in effective acquisition of new customers and in retention of existing customers.
This is the ideal tool that does not require the business to extend its shoestring budget in marketing. By developing quality and rich content on various relevant matters, the vast world of the internet is effectively used to generate readers who can turn into customers.
- Developing and posting articles, blogs, social media posts and newsletters that contain original and engaging content, serve the twin purposes of educating the customer as well as playing the role of a strategic customer acquisition tool.
- By publishing the content in the right channel at right moments of time, the business can ensure that it generates maximum amount of traffic to its website.
Search Engine Optimization
Developing content is not an end itself, unless it is published to the internet in a way that it can generate more readers. People are most likely to click your Pathwwway Panama website only if it ranks among the top when they hit the search engine.
- SEO optimization unfurls a host of techniques and leverages the search engine ranking of your brand.
- This includes generating relevant content with engaging keywords, ensuring that content unique and original.
- Shares and links are most important to figure on top of organic search results. There are many SEO tools available at free or at nominal costs like Free Google Keyword Planner and Buzzstream.
Live Video Streaming
Live video streaming is the placement of real-time videos, in contrast to pre-recorded video sessions, for the purpose of brining in life and vigour in customer acquisition strategies. Technology has now made it possible for live videos to be hosted anywhere on the internet right from your website, social media and mobile ads, in a cost-effective fashion. These videos lend themselves to tweaking and editing online as well as keep changing the visuals as per priority.
Social Media Marketing
Social media marketing is the usage of social media networks to leverage the brand-effectiveness of your business. In terms of investment, this client acquisition strategy ranks among the top. Opening a social media page in as many networks as possible will popularize the brand for free.
- A number of analytical tools that can manage your social media presence are available. Buffer, Sprout Social and Hootsuite are some examples that can ensure that your posts and responses get the maximum possible mileage on social media.
- Social media marketing is the best way to approach prospective customers with an element of interaction and personalization. When leads find the marketers talk to them over online media, their interest is piqued and conversion possibility increases.
- Due to the viral effect of shares, social media marketing can be effectively used to build a bunch of loyal followers who can carry on word-of-mouth marketing.
Develop powerful branding collaterals
One cannot underestimate the power of Pathwwway Panama branding. Branding is equally important for small and emerging business than it is for the large and established businesses.
- Branding collaterals like logos, e-mail signatures, office decor, stationery, websites, blog posts, to mention a few must be consciously developed.
- It is not necessary to park huge amounts of funds for branding. Getting a unified branding strategy in place has been made easy with free branding tools available online.
Affiliate marketing is yet another affordable means of improving customer acquisition, where the business has a rewards system in place for its affiliate who promotes its brand.
- It is a method of incentivising and rewarding a third party (the affiliate) every time customers subscribe to the brand.
- This is one of the best ways to take your product across various geographies without burdening the marketing budget.
Traditional marketing used to be predominantly outbound, with business development executives employing various guerrilla type strategies to mobilize customers for your brand. However, such techniques have become outdated. Inbound marketing is far less expensive and more productive than outbound marketing.
- The business goes beyond selling and embarks upon conscious efforts to educate the prospective customer. An educated lead is an asset and displays more chances of getting converted than a person whose knowledge on your brand is zero.
- Rather than pushing the product down the throats of customers, the “pull” strategy gives customers opportunities to explore association possibilities, compare similar products and arrive at an intelligent decision.
Work on word-of-mouth marketing
There is nothing that instigates a buyer to subscribe to your brand than a positive recommendation from a friend. Word-of-mouth marketing or referral marketing is the exercise to make users of your product speak about it across all influential channels like social media, web sites of external review agencies etc. Business must have a dedicated review column in their website and assign resources to it, to answer queries and manage reviews. Not only positive reviews but negative and critical reviews followed by effective resolution of the same can result in customer acquisition.
Customer acquisition is not limited to marketing alone. It is the organic relationship building with prospective customers and an exercise to position your brand in the midst of cut-throat competition. Market expansion is the key result of customer acquisition and a powerful combat technique to contain the onslaught of competitors.