Whether you’re a new entrepreneur on the scene trying to win your first customer, or a seasoned salesperson ready to acquire your 10,000th, customer acquisition should never stop being a business goal.
Still, for many owners, sales can be unpredictable. Gaining new customers can, most of the time, feel like a game of chance. The good news is that it’s not; if you want to grow your business consistently and profitably, you need to think of customer acquisition not as an outcome but as a process- from the cost of getting them to your door, and how much money each one will spend once inside.
Here are some strategies to try:
One of the most common ways to acquire new customers is through online advertising. The reason many e-commerce brands turn to Facebook, Google and other platforms to run their ads is that these platforms provide the most extensive analytical tools to help you get the most out of your budget.
When it comes to online advertising, Facebook Ads and Google Ads are the biggest providers for paid traffic. Still, almost every other platform has an option for purchasing advertising; it’s just a matter of understanding who your customer is, and where they spend their time online.
One of the quickest ways to get your product or brand in front of a relevant audience is by paying someone with an online following to promote it for you. Influencer marketing, through Instagrammers, YouTubers, and bloggers, has become a hugely popular form of online advertising. The reason is simple: people trust people.
The challenge for you as a business owner is to identify those with an active, engaged following who would also be interested in your product, as well as someone with the creative know-how to produce content that complements your brand.
Start a Referral Program
In the same logic as influencer marketing, a personal recommendation from someone you know goes a long way to helping you decide whether or not to purchase a product. When a friend tells someone to check out a new product or brand, they tend to listen.
If you plan to use referrals as a new customer acquisition strategy, it is up to you, the business owner, to make it easier for those loyal customers to recruit their friends.
This can be achieved by setting up a referral program through which your existing customers are rewarded each time they get someone new to purchase from your business. Apps like Referral Candy, Loyalty Lion, and Smile.io are great tools if you decide to try this route.
While customer loyalty and repeat purchases should form the backbone of your sales strategy, attracting new customers through customer acquisition can help you grow beyond your current base. Knowing which channels will work as a customer acquisition tool for your business involves continuously testing new channels and approaches, allowing you to find out what works best and prevent you from putting all your eggs in one acquisition basket.