It almost takes superhuman discipline for doing the right thing i.e., reworking the strategy for accommodating changing landscape, taking back work from the agencies for improving the marketing experience, and avoiding the temptation of the straight-out imitating your competitor’s successful strategies. But when it comes to customer acquisition, taking the high ground is a lot more than only the matter of morals as in most cases, doing the right thing pays you off in the form of better results. Always remember that a company won’t sustain itself in the market for long without a fast flow of customers, both new customers, and the returning ones.
Here are 7 untold mistakes that a small business should avoid to master the art of customer acquisition –
1. Outsourcing The Customer Acquisition Strategy – Outsourcing has its demerits, and it is audacious to believe that somebody else can do the heavy lifting for you while you only have to relax and enjoy the ride. The mentality to “set it and forget it” has been affecting companies negatively for a very long time. The business’s agency partnership is effective only when the organization is highly involved.
You might have hired professionals, however, leveraging even employing one of the most excellent customer acquisition tactics efficiently refers to taking authority of those projects which they are working upon (and the ultimate marketing targets) while staying responsible (rather than passing the buck). Relying only on the agency while doing nothing on your own will make sure that the projects are flawed and your aim suffers.
2. Making The Bad First Impression – This can vary from being unable to fulfill the orders and having the consumer service agent of your company interact rudely with the potential or new customer to running out of the inventory. Making an under-promise or underselling your business also comes under the category of bad first impressions.
There is a reason why they say that the first impression is the last impression. In today’s world of cut-throat competition, customers have plenty of options to work with various companies similar to yours. While connecting with those prospective customers, think about all those elements that make you better than others and sell the business.
3. Craving Improved Results Through Traditional Strategies – All the marketers are required to better KPIs, view the upward trend as well as go beyond their targets. However, it is insane to even think of achieving this without a consistent creative effort. Never forget that in terms of customer acquisition, every target fragment, every campaign, is the world unto its own.
In case you are not willing to experiment with different customer acquisition tactics and only wish to execute the same again and again, do not wish to get improved outcomes as at some point, the acquisition math will just break. A lot of marketing teams stick to those acquisition methods that have proved to be efficient for them in the past and ignoring the fact that today’s landscape has changed and demands new and better techniques to employ.
4. Blindly Following The Trends – It often feels like there is always a new way of attracting and connecting with the customers. However, only because other businesses are following certain trends as well as achieving success, does not necessarily mean that your company should do the same. Analyze the strategies you are utilizing for reaching out to new clients.
Influencer marketing could be a famous tactic nowadays, but it is not for you if the primary customers of your company are not huge social media users. The same goes for PPC services like Google Adwords as they may be famous as well as might work well for a lot of people, however, they are not always the best choice for you.
5. Selling Without Building Awareness – To make your customer acquisition strategy more effective, you should attempt to sell only after collecting insights on the audiences as well as building awareness. Never forget that a conversion funnel is not your imagination’s figment, and if you try to short circuit the same for reaching conversion, then there is a high probability that it will backfire. If you are using a medium like live chat support to communicate, make sure the chat agents are doing their best to build the awareness among the visitors.
The new audiences should be warmed up for the conversion from the stage of awareness to contemplation to a decision, as well as this procedure should be based upon ongoing audience inspection. Support is the heart of customer acquisition and that is why you should not get greedy and attempt to short circuit your conversion funnel.
6. Being Unaware of The Cost of Customer Acquisition – Not knowing about how much your business has to pay for getting the new customer goes hand-in-hand with not setting enough budget for acquiring customers. One method for estimating the cost of customer acquisition is by subtracting the spent amount on marketing to as well as connecting with customers from an amount that will be brought by those new customers into your business in the form of sales.
Another way for determining the price is to have a look at what is spent and then divide the same by the number of new customers brought by you. Say your company spent $5,000 and then gained 10 new customers during a month, the price, for that month, per customer is $500.
7. Isolating Your Channels, Tactics or Data – Being unable to create a smooth experience as your data is soiled, retargeting is disconnected from the other campaigns, and pixels are misfiring, etc. will only turn off and frustrate your potential clients. That is why it is your responsibility to make the customer acquisition strategy effective by putting it all together. This will appeal to the expectations of the audience for personalization, relevance, and responsibility.
Avoiding the above-mentioned mistakes will assist the process of customer acquisition to go as seamlessly as possible for the business. Make sure to eliminate these marketing sinkholes to better customer acquisition and drive more traffic to your business.
Harsh is a Digital Marketer at Activant Solutions. He mostly focuses on content marketing. He believes that the prospects of any business should get something without paying anything. Apart from being a digital marketer, he likes to study business trends, technology, current affairs and scrolling through social media. He is also involved in Philanthropic activities.