How To Do Customer Acquisition The Right Way?
The common problem that small businesses and startups face is converting their leads to paid customers. The B2C customer acquisition costs or CAC are often high in the infancy stages of their business.
Organic growth takes time, patience, and money to carry out consistent campaigns. There are no overnight success stories, albeit there are growth stories that scale a lot in less time. The category of businesses that have scaled tremendously in a short span have done not just some but everything right. They continue to do so as they may celebrate their success but never stop their efforts in the right direction to improve and stay ahead of the curve.
Pairing a great product with a good sales strategy will reduce your CAC and align the progress of your company in the right trajectory. Assuming that two competing companies have similar features-rich and problem-solving products or services with price parity, the growth of the company that understands the customers and engages them assertively is set to win.
If both companies match their efforts then as long as the market is big enough, both will enjoy their grip over their share. As long as the sales team listens and the customer service team resolves issues quickly, lead generation will yield better conversions. Here are some ways to acquire your customers the right way:
Use Tools To Identify Customers
Every product has a niche that is suitable for a particular customer. A bald man does not need a comb, he needs a wig. Understanding your consumers based on your product’s features will help you utilize AI tools to profile your customers and engage with them through effective awareness campaigns. If you are selling a specialized cream that reduces wrinkles, then all men and women above fifty should be your target audience.
Psychographics
Understanding the behavior of the buyer will help in accelerating the prospects from inertia to the actionable stage.
Customers looking for a product or a service who have had some unsatisfactory experiences with other brands in the past will be skeptical about signing up, even though they need to sign up or buy it at some point. Engaging them to click call-to-action buttons to forward their items from the cart to checkout is a proactive step.
A sales representative can call and find out if they need any queries to be cleared about the product and encourage them to buy it. If general enquiries are eagerly clarified consumers will appreciate the initiative and close the deal.
Use Testimonials
Using past customer testimonials in your social media posts will build confidence to try out your product range. You can offer a buy-one-get-one discount on their first purchase to increase SKU usage. A consumer may like product A over product B and get to test both in the same purchase.
Conclusion:
Customers who return are proven to reduce the acquisition expenses as they always bring along friends and family. Review matters and your business should actively collect them by engaging consumers with a feedback request.
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