Why Customer Acquisition is Important for Your Business

Paying customers are the lifeblood of any business, no matter what industry, niche or profession you are in. While every business owner and manager pays attention to customers, not everyone looks through the lens of a solid customer acquisition strategy. With a customer acquisition process in place, you are better able to turn your revenue into a more predictable and repeatable process instead of a random event.

The Three Phases of Customer Acquisition Process

The customer acquisition process is often divided into three phases:

1. Awareness: A lead discovers your brand and shows interest.
2. Consideration: The lead turns into becoming potential when they start researching and considering making purchase decisions.
3. Conversion: The potential leads become paying customers. From this point on brands can shift their marketing efforts towards long-term retention or profit from loyal customers.

CALCULATION OF CUSTOMER ACQUISITION COST (CAC)

To determine if your marketing approach is profitable it’s important that businesses understand how to calculate their CAC(Customer Acquisition Cost). To determine CAC divide total marketing cost by number new clients acquired using formula below:

Total Marketing Spend / Total New Customers = $13.33 per client(CAC).

SIX CUSTOMER ACQUISITION STRATEGIES TO TRY

1. Email
   
   
   
   • Create mailing list via pop-ups newsletter sign-up forms on website as well as events such hosting contests giveaways through social media platforms like Facebook Instagram etc.
     
   
   
   • You can use email newsletters promotions transactions registration confirmation emails upsells cross-sell goods generate interests among prospects.
     
2. Content Marketing
   Blogs write useful interesting articles about products related topics industries e.g beauty blog skincare tips makeup tutorials.
   

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   Email:
   Keep updated with news product launches behind-the-scenes content like how products made team members involved.

   Promotions:
   Have sale/event coming up? Generate interest through emails.

   Transactions:
   Use registration/purchase confirmations opportunity sell upsells/cross-sell goods.Source

   Content Marketing

   You know saying “Content king”. Especially today’s world where users spend hours day consuming websites social media streaming services.Solid content plan necessary grab people’s attention engage convince them take plunge make purchase.Your plan include:Blogs.Write useful interesting articles industry-related topics.For example beauty brand blog everything from skincare supplements surveys debunk myths beauty world.Social Media.Create posts videos interactive content related back user engagement replying comment leaving comments other posts stand out.Other forms podcasts print publications apps press releases more.Beauty Brand Beauty Cake Blog about everything from customer spotlight Skincare Supplements Surveys Debunk Myths In The Beauty World.Source

   Influencer Sponsorships

   Influence marketing huge industry especially social media apps Instagram Facebook TikTok.With channel brands partner influencers promote products/services.By definition influencer online personality/entity has own loyal engaged following.If find right influencers partner those who relevant put yourself front hundreds thousands potentials.Get create exchange payment free goods.You also try affiliate get percentage sales.Just beware pitfalls difficult track ROI need invest upfront.Source

   Traditional Advertising

   Not dead still take advantage channels print advertising TV ads billboards direct mail.These obviously depend type have potential ROI less scalable geographically targeted techniques.This come some trade-offs won’t track impressions views engagement physical way digital.But omnichannel tie together.Print ad brings app funnelSource

   Audience Building

   With platforms YouTube Twitch ecommerce build huge online following.Real-world example Gym shark.Gymshark six million followers cultivated community ambassadors champion everywhere.Not only gives authority creates base reach whenever want increase sales promote item.While most audience-building strategies require time effort consistency seen good since help group anytime free.

   Paid AdvertisingPaid emerged popular attract offer several benefits grow quickly increasing exposure offering targeting capabilities tailor offers people interests behaviors.So surprise many businesses use part efforts.Example Makeup More polishedFacebook ads find new clients online.Facebook Google reign supreme top there options consider.Choosing site depends understanding audience spend time online.Build reap rewardsWhen approach thoughtfully methodically big benefits consistently door keep coming back left building implementing steps measuring results repeating improving little cycle.Customer…
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