Acquisition marketing
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Acquisition marketing
While companies might capitalise on building relationships with existing customers, it might be helpful to acquire a new audience. Often, a company might use acquisition marketing to get new customers, which involves promoting products to customers and leads yet to make a purchase.
Acquisition marketing is the marketing process that focuses on targeting, promoting and marketing goods or services to new audiences to get customers.
Typically, this marketing focuses on acquiring customers in the conversion funnel's consideration or interest phase. When planning to acquire new customers, a company does not focus on creating brand awareness. Instead, the business highlights its product's unique appeal.
Using customer acquisition strategies, a company emphasises why and how they are different and superior to their competitors. Some channels that a company might use while acquiring new customers are:
Direct:
This is when a customer reaches your website by directly typing your website name in the search engines.
Organic: This channel helps customers locate and visit your website in organic search results.
Email: This acquisition channel is useful when a customer clicks on the email to reach your website.
Paid search:
This marketing channel is valuable when a customer clicks on a paid advertisement and reaches your website.
Referrals:
This refers to when another website links your website URL to their blog or website.
Social:
This refers to a customer accessing your website through a link posted on their social media platform.
The primary objective of acquiring customers is introducing them to the business and convincing them to make a purchase. These strategies can help a company make repeat purchases that foster brand loyalty.
Who do you target with an acquisition marketing strategy
Acquisition marketing is best for leads in your sales funnel’s consideration or interest phase. Ideally, you want to deploy your acquisition marketing strategies to people who have already expressed some baseline interest in your brand and its offerings.
Why this strategy belongs in your marketing plan
It’s one thing to fill your sales funnel with new leads. But only a very small percentage of those prospects will become paying customers without any additional effort on your end.
If you want to get value from the leads at the top of your funnel, you need to embrace online marketing strategies that appeal to this group of prospects.
That’s where acquisition marketing comes in. It’s a bucket of techniques designed to help you turn an interest into a purchase. If you do that consistently, it’ll be difficult for your business to be anything but successful.
Lead lander can help your company hit its lead goals with an acquisition marketing strategy
The top channels for acquisition marketing
The best acquisition marketing campaigns are deployed across multiple channels. Your budget allocations will vary based on what you know about your target audience. But you’ll want to dig into the following channels.
Social media is a leading channel for acquisition marketing.
SEO
SEO is an inbound strategy that can help you rank higher up in Google search rankings. Focusing on this will help your business attract people actively looking up information about relevant products and services.
Blogging
Blogging is useful for two reasons: It helps you attract new leads by covering topics they care about and answering questions that matter. Second, blogging establishes your business as a thought leader in its industry. And building up that reputation will do wonders for your acquisition rates over time.
Social media
A few billion people use social media across the globe. You need to be active on the most popular platforms to reach them.
Email marketing can still be very effective when done well. It’s a good way to get your company in front of a potential lead when they might not be thinking about products like yours directly.
How to get the most out of acquisition marketing
Now that we know what acquisition marketing is and why it’s valuable let’s look at some strategies. Here are Sevan that you can use to grow your customer base and hit your lead goals.
Start with a clear understanding of your target audience
Acquisition marketing is about creating content that resonates with leads at the top of your sales funnel. You have to understand who those leads are and what they care about first, though.
You want to begin your acquisition marketing efforts by reviewing this specific audience. Once done, you’ll be able to leverage this information to create targeted content that truly resonates with them.
Estimate your customer acquisition cost
Before you spend money on this online marketing strategy, know how much it currently costs you to acquire a new customer. This is important for a few reasons.
This metric will tell you how much you can spend on customer acquisition and still be profitable compared to your average lifetime customer value.
Second, you need to track something before you can improve it. If you want to bring down your customer acquisition costs, the first step is understanding what they are.
Focus on your highest-potential channels first
There are a lot of different channels you can use to market your brand to new leads. Some of these will be more effective for your company than others.
Your research might tell you that most of your web traffic comes from your blog posts and that you’re not getting much traction from social media.
In that scenario, it’d make more sense to allocate a higher percentage of your marketing budget to your blog because you know it already brings you new leads. You could keep building out your blog until you see the marginal value of doing so go down.
Then at that point, it makes sense to start investing more heavily in other channels because you might have already reached close to the full potential of your blog.
Retool your website
Your website is the main place that the world goes to learn about your brand and its offerings. If you want to make acquisition marketing a priority, that should be reflected in how you arrange your site.
For example, you might use pop-up ads with special deals for first-time customers. Or you could advertise a free trial right on your home page so that it’s the first thing that a new lead sees.
Get more active on social media
estimates that 84% of marketers could generate more web traffic by spending as little as six hours per week on social media. So from an economic standpoint, it makes a lot of sense to bring your acquisition marketing strategy to popular platforms like:
Snapchat
TikTok
Your company’s best social media platforms will depend on target audience. If you’ve got a younger demographic, TikTok could be smart. But if you’re appealing to B2B buyers, LinkedIn would make more sense.
Embrace review-based and referral-based online marketing
93% of customers read online reviews before making a purchasing decision, and 81% of them are more likely to engage with a brand that has a referral-based rewards program.
It makes sense to use both review and referral marketing as cornerstones of your acquisition strategy with stats like these.
You can do that by:
Offering discounts for customers who leave reviews
Giving existing customers a percentage or flat value for every new customer they successfully refer to you
Responding to high-traffic existing reviews to appeal to those who read them
Consider creating new product offerings
To acquire new customers, you need to have products they want to buy. If you’re using the previously-covered strategies and struggling to gain traction, it could be a sign that your product offerings aren’t suitable.
Perhaps your research shows your target audience is continually choosing a competitor that offers a cheaper, less-powerful version of your software. If so, it could make sense to create a version of your product with less offerings for a similar price.
Flexibility is important if you want to build sustainability into your customer acquisition rate.
New product offerings are also key to a good acquisition marketing plan.
Lead lander can help your company hit its lead goals with an acquisition marketing strategy
Are you ready to start deploying an acquisition marketing strategy? If so, Lead Lander is here to help.
Our website visitor tracking software gives you a wealth of information about the new leads visiting your site. With it, discover who they are and what type of content and products they care about most.
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