Business

Customer acquisition-all you need to know

Customer acquisition is a method marketers use to attract customers to buy their products.

This method can be done through advertisements that will attract new potential customers onboard, turning them into loyal customers.

We both know the hustle that comes with selling products online and managing to get customers to stick with you throughout the process.

When creating your online business, you need to think about who is your audience that your target market is. This process is known as the acquisition strategy. You will need to figure out how you can acquire customers easily. From advertising to networking with other businesses in the same industry, learn and implement the necessary wants to get your business running.

 In this article, we are focusing on how you can achieve to keep your customers, so let's dig in to find out more as follows;

  • Customer acquisition strategies
  • Acquisition marketing
  • Importance of acquisition marketing
  • How to improve customer acquisition
  • Customer acquisition platforms
  • Acquisition method
  • Customer acquisition and retention
  • Conclusion

Customer acquisition strategies

Companies use customer acquisition strategies that involve using social media engagement tools online to help brands promote their products and provide services to their customers. These plans play an essential role in their business growth. 

These strategies aim to put your brand out there so potential customers can see and purchase your products. It also focuses on getting more of these customers and keeping the old ones. They may come up with plans as follows;

  1. Target audience

Start by figuring out how your business will work out, who's your target audience and how they will align with what you are selling. Step by step, discover this helpful knowledge about your target market before you start.

  1. Know your acquisition channel platforms

Familiarize yourself with the social media platforms that you want to interact with your customers on. Know which one is the best and easy to manage, then set up a business account. You can start by advertising on WhatsApp and Facebook for greater engagement. If most of your customers are on other social media platforms, such as Instagram, follow them there. 

  1. Create video content

If you want more engagement and many people on your brand, try creating video content such as reels. This will bring people to your social media platform and lead you to interested customers. As much as you will be marketing your products, you will also promote them on your social pages.

  1. Create SEO content

Nothing beats the power of Search Engine Optimization. Get your content aligned with the SEO basics for greater outreach by people from all over. Learn SEO tricks to bring your page to the top search engine results pages (SERP). Give searchers well-informed internet content that answers what they are looking for. While at it also ensures that your page loads as fast as possible for better traffic.

Acquisition marketing

Brands use acquisition marketing to promote their products and services by explicitly targeting customers who are well aware of their brands. They are also targeting customers at the considerate phase of the purchase funnel

Digital acquisition marketing

As the name suggests digital marketing acquisition is using social media platforms to market a company. We both know e-commerce marketing is the way forward for all companies that want to reach out to a broader audience. Digital marketing your business will help you attract new customers interested in your offer and make purchases. 

Importance of acquisition marketing

There are many benefits that come with a company being able to do acquisition marketing. Here are some of the important follows;

  1. As a brand, you are at an advantage in increasing your customers and sales through a well-strategized acquisition.
  2. You are at the edge of acquiring more revenue from people using your services.
  3. It encourages more customers to view and try your products and services.

How to improve customer acquisition

You can improve your customer acquisitions by;

  • Make use of multiple channels.

In order to attract more customers and get your products selling, there's a lot you can do, from creating social media ads toemail campaigns. The goal is to attract and, at the same time, make sales that will bring revenue. You can also try different social media platforms such as Instagram, Facebook, and TikTok among other online platforms you can get.

  • Include lifetime value in your plan

Understand your customers' lifetime value so you can decide how much money you will use in marketing. Ensure that you are saving more and spending less money on marketing.

  • Collaborate with brands

You can reach out to companies that are in the same industry as you for collaboration and promotion purposes. Find how they run their businesses and let them market yours while you do the same with theirs. If possible, attend programs that will help you boost your customer acquisition process.

  • Understand your customer's needs

Your business is nothing without customers. Engage them through short surveys that will help you understand them better. Let them know you care about them and get their opinions and feedback on the newly purchased products so you can know whether to produce them more or change them. With these tactics in place, you can expand your market drastically.

Customer acquisition platforms

So many businesses depend on certain platforms to reach out to new prospects from the point of consideration to conversion. This will enable them to get a broader market and be able to make sales of their products. We have a few platforms that we have come up with as follows;

  1. SEO

One thing you should never forget when marketing is to create search-engine-optimized content. This should always be on top of your mind if you want to reach out to users. Ensure that your content on the website, such as blogs, is among the top search results pages for people to get to you. You can do that by providing high-quality content and including functional links. Through SEO, your customer acquisition drive will be high.

  1. Social media

In the world that we are living in today, almost everyone is on social media. Get your business online and let people know what you have to offer. You never know, and maybe your next customer is right there. Stop contemplating whether you can advertise on the platform and do it in a blink. 

This is how you can run these platforms;

Facebook ads

will help you get new customers and, at the same time, target those who didn't buy your products.

Instagram ads 

By posting stunning photos, you will be marketing your brand targeting buyers from new ones to regular customers.

  1. Content creation

Want an easy way to market your products and acquire more customers? Content creation will be it for your company. There are many ways you can engage users to be aware of what you have. With a YouTube vlogging account, you can create videos to educate users on what you are selling them. 

  1. Email marketing

This can be achieved through the regular traffic entrepreneurs get from marketing their products and services. You can create an email list for your customers to have them subscribe and update them on what's new and whatnot. Through email marketing, you will be able to promote your brand easily.

Acquisition method

When it comes to the acquisition method, we have three that we can focus on;

Full acquisition method 

This is when an organization fully buys another company for its own benefit purposes. Transfers need to be carried out to convert the purchased company to align with the organization. This can be in terms of taxation and other legal procedures.

Partial acquisition method 

This happens when an organization purchases a few shares of another company. Both companies must come up with a list of their liabilities, among other necessary information required of them.

Purchase acquisition method

This is a method applied when an organization purchases another company's assets. Through the method, the acquired company's assets will be recorded as of the acquirers at a fair market value.

Customer acquisition and retention 

Customer acquisition happens when you do all you can to attract customers to buy your products and services. On the other hand, customer retention occurs after a customer has already bought your products and now you are looking for ways to keep them instead of losing them.

Conclusion

Customer acquisition is the backbone of every business that needs to be successful. You have to create key performance indicators to measure and track your progress as a company for both B2B and B2C. With the right strategies in place, you will be able to boost your sales and, at the same time, convert customers into regulars.

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Bellah Mukisa
January 6, 2023

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