Customer Acquisition
It refers to the process of acquiring new customers, it involves convincing customers to buy company’s product or services. Companies think about the cost of acquiring customer as very important measure
In determining how much customers bring value to their businesses, you can understand customer acquisition management as a link in between advertising and customer relationship management.
How to Create a Customer Acquisition Plan
Everyone wants to have the successful business, for this purpose, there must be a well-defined customer acquisition plan.
Identifying your Ideal Customer
In the potential market, customer is king, so to identify customer profiles for a business is very essential. It means finding out who they are, how old they are, their hobbies etc. which helps you in attracting the customer with the use of right means. Also important is to know what problem they are facing and what they actually want.
If you are able to understand what their motives and goals are, you will know how they think and how they want to solve their problems, with this information you can email them or send the advertising copy and tell them how you have the best solution for them.
Set your Goal
A goal is the desired result which a person or business envisions
Your goals can be monetary or activity based. For customer acquisition the goal might be increasing web visitors, converting them into leads, and then paying customers
Define your Acquisition Funnel
You should understand your customers’ buying journey, where they start searches and at which stage they convert.
A Fleishman-Hillard report reports that 89% of consumers do online research. Leverage your digital strategy to prepare your ad and address them through the medium they usually use.
Understand your Metrics
Knowing your key business metrics is the base for any plan. It helps you to understand what number you must hit. It will also tell you how much budget you can spend to acquire a new customer so when you launch your campaigns you will know quickly whether something is valuable or not.
Monitor Everything from Day One
A successful customer acquisition plan also measures all moving parts. Before the start of work you must set this up in advance so you do not miss out any data collection
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