Customer acquisition is essential to your business and for it to survive you need to attract new customers. Do you have an acquisition strategy?
Since it costs roughly five times as much to attract a new customer than to keep an existing one, you need to make sure your acquisition strategy is as sound and efficient as possible. So, where do you start?
Here at Enilon we believe to build a consistent and creative customer acquisition strategy, an omnichannel presence is vital. You must know how much acquisition costs your business and the goal is obviously to spend the least amount of money and time while acquiring as many new customers as you can. We want to be creative with our acquisition strategies focusing on an omnichannel approach using a targeted, personalized approach.
Why? Because it works.
Targeted personalization is akin to a one-on-one conversation with a prospect because you’re engaging them where they live with content or information that interests them. As a result, those prospects will want to engage with you. This is why 74% of marketers say targeted personalization increases customer engagement.
Personalization does just that because it speaks to them on a personal level and builds that one-on-one relationship you need to keep them engaged. It’s specifically created for your audience, and your goal is to elicit a response from them. Below are three digital tactics that are quite effective in improving your acquisition strategy and gaining an advantage over the competition.
Email Marketing: A successful way to increase prospect interaction is through email nurture campaigns, specifically an email campaign that includes personalization. According to a study by Experian, 50% of companies feel they can increase interaction within email by increasing personalization.
Paid Search: Paid search is an efficient channel in any acquisition program because it’s used to convert the traffic at the bottom of your funnel.
Programmatic Display: Programmatic helps companies boost their advertising efforts by using web-browsing behavior information. Programmatic display is run based upon geo locations and web queries. Programmatic can deliver relevant ads and efficient results across multi-screens—the ideal situation for a digital strategy.
The purpose of an acquisition strategy is to gain market share and competitive edge. Building an acquisition strategy that includes the digital tactics above will promote your brand, and give you the edge you need to compete and succeed.