Some businesses measure their success by the number of customers they gain yearly. These customers are their lifeblood, especially those that rely on selling products and services. However, gaining customers reliably every month can be challenging, especially for businesses that have only recently started.
Small businesses have to be creative in gaining their customers, or else they’ll be losing money quite frequently. However, it can be impossible to achieve customers in some situations without investing any money in them. This principle of business is what we call customer acquisition cost.
Customer Acquisition Cost
Customer acquisition cost (CAC) is the amount of money you use to gain customers for your company. It’s a part of marketing campaigns and advertisements. You must know your CAC because it will determine your investments for the future.
To determine your CAC, you need to add all your investments into marketing and divide it to the customers you’ve gained throughout the quarter. The amount you get from that is your overall CAC. There is no good CAC, and the amount you spent per gained customer is entirely up to your discretion. But you must do your marketing as efficiently and as effectively as possible. One way to do this is by making your customer acquisition digitally.
Digital Customer Acquisition
Digital customer acquisition is becoming a well-known strategy among marketers and many small businesses. They pose minimal risk for every customer gained. They are also known to keep overall CAC down.
So what are various digital customer acquisition strategies you can implement in your small business?
Telemarketing is considered to be the oldest way to gain clients digitally. However, it’s still one of the most reliable ways to do it as well.
Many digital marketers, especially those with their department, have a dedicated telemarketing team. These teams make outbound telemarketing calls for the company. They essentially call customers and discuss their products and services to get more customers for the company.
Moreover, because of today’s globalized system, almost every small business can afford a telemarketing campaign. They have to hire an offshore telemarketing team to do the campaign for them.
Many marketing managers who have done telemarketing consider it an effective strategy in gaining consumers and one of the cheapest ways. When combined with other marketing strategies, telemarketing works even better.
Another cheap way to gain customers digitally is through content marketing. Almost every company has a team dedicated to working content marketing. We’re talking about blogs, videos, and other forms of media that are concentrated on the business’ mission, vision, products, and services.
However, content has evolved throughout the years. Most businesses are now concentrated on creating content that is relevant to everyone. Some guerrilla marketers aim to create controversial content to use consumer emotion as a means to acquire them.
Some experts believe that quantity is better than quality in content marketing. However, when it comes to acquiring customers, studies have shown that quality is king. The more quality content you produce, the more customers you can acquire in your campaign.
Email Marketing and Pop-ups
Another digital option that can win customers through digital means is email marketing and pop-ups.
Email marketing isn’t known to generate leads, unlike the ones we’ve suggested above. However, they are great at converting leads. Many customers who are interested in your company would be willing to get updates from you in the form of e-mail. Some customers are waiting for certain discounts before they purchase your company’s products and services.
These customers can all be kept in the loop through email marketing. A singular email can convert a lead to a loyal customer in no time. If your company has multiple leads but has no means of converting them, then it’s time for you to implement email marketing in your campaign.
If you have a website for your company, then it’s time for you to post some customer testimonials regarding your business’ products and services. These customer testimonials can easily generate and convert leads in no time. They are as effective as consumer reviews, but these testimonials represent a story, unlike consumer reviews.
A story is a good way to drive customer acquisitions up. Marketing studies have shown that today’s consumers are interested in stories more than anything else. Consumers that are captivated by a story from your company’s marketing campaign can be loyal to you for years to come.
Winning customers digitally can be simple once you’ve tried out the suggestions we’ve given to you in these articles. Try implementing these suggestions and see which ones fit your budget as a small business.