All businesses need to acquire new customers to ensure steady and sustainable growth, and all future business growth boils down to how well you can acquire new customers and retain them long-term.
Acquiring new customers may sound like a relatively simple task, but it can actually be challenging to find new opportunities in today’s crowded marketplace. We’re here to help, below are a number of effective customer acquisition strategies that you can use to drive business growth.
Focus on product benefits over features
Although listing the features of your product or service is important for informing customers, in your marketing campaigns it’s a good idea to focus on the benefits of your product. Highlighting how your product or service can benefit your customers is a more effective and direct way to show your customers why they should buy from you and not a competitor.
While you can still focus on the product features to an extent, your focus should be on communicating the benefits to your customers. Think about your customer’s problems and dig deep to explain how your product or service can solve those problems. This will help you stand out from your competitors and show your customers what makes your brand unique.
For example, for an organisation selling ovens, product features may include self-cleaning, smooth stovetops or maybe warming bins, and benefits may include safety, ease of use or affordability. By focusing on the product benefits in marketing campaigns, you can highlight why customers should purchase your products rather than those from competitors. This, therefore, can help to acquire new customers.
Be present on social media
Nowadays, social media has such a big impact on modern day life. In fact, there are now 3.484 billion active social media users around the world. So if you’re not present on social media, you’re missing out on a massive market that your competitors are likely already taking advantage of.
Interacting with your customers over social media is a great way to increase customer engagement with your brand. Sharing your customers’ stories, hosting competitions, and replying to customers’ queries over social media are all effective ways of increasing customer engagement and attracting new customers.
What’s more, having a social media presence doesn’t cost a penny. Although not all of your followers will convert into customers, the more followers you gain, the better chance you have at winning new customers.
Offer deals and promotions
People love getting discounts, partly because they’re saving money but also because they feel like they’re getting access to something exclusive and limited. Some ideas for offering deals and promotions include using your social media accounts to run coupon ads or throwing in low-stock items or products that are no longer made as freebies on orders over a certain quantity. When people see the deals and promotions you are offering, they are more likely to purchase from your business. Not only is this a good strategy for acquiring customers, but it’s very effective in retaining customers.
The most successful promotional campaigns also inspire sharing. When people share offers with their family and friends, they’re more likely to be interested since it’s coming from someone they know and trust, rather than an ad from an unfamiliar brand. It makes them more likely to redeem the offer and continue sharing with others too.
Another great way to make customers feel as though they have access to something exclusive is through loyalty programs. Not only are customer loyalty programs a great way of retaining your existing customers, but they’re also very effective in acquiring new customers. They enable you to stand out from the crowd and differentiate from the competition by creating customer benefits that others can’t.
Content marketing is a great way to increase awareness of your brand. Content is the foundation of advertising because once you’ve published content, such as a blog post or an ebook, you can promote it. According to research, content marketing generates 3x as many leads as other marketing methods and costs 62% less.
Consistently publishing new content and refreshing your older content keeps your brand relevant and shows prospects that you’re actively engaged with your industry. This is crucial in a world full of false advertising and plummeting customer trust.
Highly targeted advertising
If you’re looking to generate more customers it’s a good idea to define your target audience down to the finest details. Look at where your customers live, how old they are, what they do for a living, and what problems they may have that your product or service can resolve. By accurately targeting the right audience, you can increase the chances of success in your customer acquisition efforts.
One of the best ways to acquire new customers is to highlight existing ones. When you have proof that customers have a particularly positive experience, ask them to provide a testimonial in return.
Whether the testimonial is a quote, review or case study, it’s proof that you deliver on your promises and shows that your existing customers have had good experiences with you, making new prospects more likely to purchase from your business.
A great way to get your customers to provide testimonials is through encouraging them to leave reviews on Google or on Facebook. These can be extremely effective in acquiring new customers since people do tend to read product reviews and having positive reviews can help to push your customers towards making a purchase.
Listen to your customers
Listening to your existing customers can give you a good insight into what you’re doing right in your business and what areas you can improve on. Your existing customers can tell you what your strengths are, allowing you to highlight these when marketing to new prospects. Additionally, by maintaining communication with your customers, you can resolve any issues they may have before they grow into larger problems that could result in losing a valued customer.
Acquiring new customers can be a challenge, but implementing some of the strategies we’ve mentioned above can go a long way in helping you gain new customers for your business.
PERX Rewards provides a suite of reward based marketing tools which are designed to increase your customer acquisition and retention by saving them money on the things they already buy day to day. If you’re interested in finding out more about how PERX can benefit your business, contact us at email@example.com or call 01254 878 956.