Without the right customer acquisition strategies, it is impossible to keep up in today’s hyper-competitive marketplace. A thriving business needs a continual pipeline of qualified potential customers.
But what is the right approach for your business? Check out these 5 customer acquisition strategies and see what will work best to bring in new customers and increase sales.
#1 Search Engine Optimization (SEO)
Many buyers begin their research online long before deciding to make a purchase. This makes having an effective website a crucial part of attracting new customers. However, it only works if people can find your site. While there are multiple strategies for getting potential customers to your website, organic search is among the most powerful.
When people type search terms related to your business into a search engine, you want your business to be at the top of the search engine results page (SERP). Since search engine methodologies are constantly changing, SEO is about continually evaluating your site to ensure that all of your content is written and formatted according to the latest best practices.
This work includes the proper use of keywords, headings, meta descriptions, alternate text for images, and other ranking factors. While SEO used to be just about targeting the right keywords, as search engines grow smarter, it is now more critical than ever to ensure you are producing high-quality, relevant content based on an understanding of what your buyers are looking for.
While optimizing your website for search is a critical customer acquisition strategy, it is also essential to ensure your site is ready to convert visitors into customers. Be sure the website content is appropriate for its place in your sales funnel, and that clear calls to action will move those guests toward a purchase.
#2 Social Media Marketing for Customer Acquisition
If your target audience spends time on social media sites like Facebook, Twitter, Instagram, TikTok, or even LinkedIn, social media marketing can be one of the more powerful customer acquisition strategies in your toolkit. If done correctly, social media can raise brand awareness and keep your business top of mind.
In addition, it has the added benefit of being an interactive medium. This interactivity means that customers can have the chance to get to know your company and its personality and potentially reach out with questions.
Sales for L’Oreal UK rose by over 50% by harnessing the power of social media and word-of-mouth marketing. Over the course of three months, they worked with 2,000 UK-based “everyday influencers” chosen, not for their large following, but for their sincere enthusiasm and favorable opinions about the brand and willingness to try and review their new Pure Clay Mask detox cream.
These reviews were posted across all platforms including Snapchat, Facebook, Instagram, Pinterest, Twitter, and YouTube, with more than 500 stories posted to Snapchat alone.The social media buzz from the campaign resulted in a remarkable reach of 741,000 consumers with over 5,800 pieces of content created, and social media mentions of L’Oreal products increased by 53% – a substantial increase for a campaign with almost zero monetary cost.
Just be sure that you are creating and sharing content that will be of interest to potential customers and reflects your brand or business identity appropriately. As much as great social media marketing can bring in potential customers, a poorly executed attempt can quickly have the opposite effect.
#3 Email Marketing
Every so often, someone predicts that email is coming to the end of its reign as one of the most successful customer acquisition strategies. But it keeps delivering solid returns.
In a recent survey, consumers were asked about the marketing channels that most influenced their purchases, and email remained at the top. 44% of respondents listed general emails as the most influential marketing channel leading them to a purchase.
The great thing about email among customer acquisition strategies is that it can be used throughout your sales funnel. Email can be used to nurture customer relationships from the point of initial contact (signing up for a newsletter or requesting more information), all the way through the buying process, and even for keeping current or past customers engaged.
#4 Affiliate or Referral Programs
Word of mouth will always be one of the most robust customer acquisition strategies. Among American consumers, 83% stated that the word of a friend or relative influenced their decision to buy a product or service, making word of mouth a powerful avenue for new customer acquisition.
If you already have a happy and engaged group of customers, they are one of the best ways to expand your customer base. However, no matter how much they like your product or service, they may need a little motivation. It can be as simple as offering current customers perks like discounts or bonuses when they refer a new customer.
Customer reviews are also a form of user-generated content (UGC) that can tie in with your social media marketing strategy. Case in point, personal finance app Mint held a #MyMintMoment Instagram campaign encouraging users to post pictures of a moment when their “life and finances aligned”. Motivating customers to leave public positive reviews on how Mint has helped them achieve their financial goals.
The campaign boosted Mint’s online presence and their USD1,000 Visa gift card prize was awarded to a fan who was grateful for Mint’s help in managing finances when she was diagnosed with cancer. The campaign and posts shone a positive light on the finance tech company, inspiring people to convert from prospects to actual customers and fans.
You can also create affiliate programs with special links that will allow customers to earn a share of the sale when someone makes a purchase.
#5 Enhanced Video Marketing
Video continues to be among the fastest-growing marketing mediums. While short-form, pre-recorded videos on platforms like TikTok and Instagram remain popular, many businesses find more success with longer-form live video streaming.
Live videos on Facebook that last over one hour gain twice the engagement as compared to pre-recorded ones. The study by Socialinsider also shows that live videos hold the power of retention which might be attributed to customers’ need for authenticity and interactivity, and brands producing live videos saw a large increase in audience reach. Boosting their businesses’ online presence, awareness and fan base.
Live streaming can boost engagement, help potential customers better understand your business and offerings, and build trust in your brand. Just look at ZALORA, an e-commerce giant in Asia with an extensive collection of over 3,000 brands and 50 million visits per month. They launched Z-Live to leverage live streaming technology powered by BeLive. During Z-Live’s pilot week, ZALORA recorded up to a 30.6% increase in new app users, proving the value of live streaming in acquiring new customers.
Since live video can be recorded, it can also create an archive of content that can be accessed later on-demand. Live streams are great for sharing product launches, live demonstrations, and question and answer sessions. In addition, live streams can build interest and lead directly to sales when you offer live shopping features or specials only available during the live event.
If you are new to live streaming and want to consider making it part of your customer acquisition strategy, BeLive has the knowledge, experience, and tools you need to get started. We have been in the live streaming business since 2014 and have worked with top brands like ZALORA, Rakuten, Bukalapak, and Trendyol. BeLive has offices in Singapore and Vietnam and a growing network of partners worldwide.
Learn how we have helped companies develop customized live video solutions by visiting our customer stories page. No matter what product or service you offer, BeLive is ready to help you reach new customers and grow your business.