Just like the name depicts, customer acquisition simply means gaining new consumers. The process involves persuading consumers to buy a company’s products or services. This has to be done while evaluating the value of customer acquisition since this is what enables you to know how much value the new consumers bring to your business. This is where the need for customer acquisition management comes in.
Customer acquisition management is the set of methodologies and systems that are used to manage customer prospects and inquiries that lead to a range of marketing techniques. This is the link between advertising and the customer relationship management. Customer acquisition management is the connection which facilitates the gaining of the targeted consumers in a manner that is effective. There are numerous customer acquisition resources you can use; both online and in print. However, before you initiate the process, there are a number of important things you need to do.
- Be prepared
The first and the most important thing you will have to do in customer acquisition are to determine whether your product is really ready for user acquisition. Is your product stable? Are there bugs in your product that may make the customer experience flawed?
The key is to make sure that the new customers will have a great experience using your products. This will only happen if you have already fixed all the bugs in your product or service. Make sure you have the required customer support that is needed to address the many concerns new consumers may have. Making sure you have customer validation is important before you launch any customer acquisition strategy.
The customer acquisition process is hardly predictable or linear. It is not an exact science and many things can go wrong. To mitigate most of the risks, you need to have a customer acquisition plan, hire the right team, properly estimate the customer acquisition costs and create demand. Failure to prepare is one of the key reasons why most marketers fail even when using the best marketing resources.
- Tools and software
As aforementioned, customer acquisition management is an important part of marketing. This is what ensures that you don’t spend more than you have budgeted for. The good news is that there are several tools marketers can use.
The two main tools you need to consider is the ‘what’ and the ‘who’ analytics. Google analytics is a great tool that will enable you to know what is happening on your site. You can set funnels, view sources, track traffic and view referrals. The tool further helps you set up events, as well as track goals. This is one of the most widely tool in tracking the ‘what’.
For the ‘who’, KISSmetrics is a great tool you should consider using. It will help you know what visitors did before they clicked the ‘sigh up’ button as well as the sites they have been to. This is a good tool to leverage on if you wish to optimize the call-to-action.
- Focus on case studies
One of the best resources you can use to learn more about customer acquisition is the case studies. Learning what leading companies did to achieve their huge customer base will give insight on how you can boost your acquisition process. For example, Unbounce created their business on inbound marketing; Instagram thrives on simplicity and agility; whereas Pinterest benefits from its fluid signup process.
Case studies will help you understand what other companies did to achieve success in customer acquisition. You can then customize their strategies to match your business. What is more is that case studies will keep you from making the terrible mistakes most marketers made.
- Define your audience
Now that you know what you need to focus on to achieve more success, it is time to define your audience. It only by knows whom you want to reach out to that you will be able to customize your strategies in a manner that lures more consumers in.
In defining your audience, you need to focus on current audience and the ideal audience. Current audiences are the ones you are already reaching now whereas the ideal audiences are the groups you want to acquire. Your current audiences are your baseline and you have to do everything within your power to keep them from leaving. There are three important resources that will tell you about your current audience; analytics tools, social media and Alexa.
It is by understanding your current and ideal audiences that you will be able to create a more effective landing page, call-to-action and perfect your viral loop. You cannot pick the right platform if you don’t know who your audiences are.
- Public relations
In customer acquisition, public relations is a must have. This is what gives you the chance to tell your story. The goal of PR is to make yourself be viewed as an influential expert in the industry. PR is fundamental in acquiring users and building a larger network. It makes your target audience want to be part of your story.
However, before you start luring customers in, you have to start by building credibility. If potential customers do not trust you, they will be reluctant to do business with you. Pitch sensibly by knowing who will care for your pitch. Again, identifying your audience is the first step to pitching sensibly.
There are numerous methods you can use in customer acquisition but most of them lead to the same place. The method you choose to use will depend on your target audience as well as your unique customer acquisition funnel.