Just like a traditional funnel, the one for customer acquisition starts broad and narrows as you move down it. You can look at it as if you cast a large net to capture as much interest and attention to begin with and then narrow things down as quality leads separate from those who aren’t interested in what you offer.
Starting from the stop and moving down, the stages of an effective customer acquisition strategy include:
New audiences and prospects are first Training Directors Email Lists aware of your brand and what you offer. Awareness is the first step in any customer and user acquisition process. This is done through independent research conducted by the individual or your brand’s marketing and sales efforts.
Next, your brand takes steps to set yourself apart or educate customers about what you offer. Finding ways to appeal to your customer’s emotions is highly effective at this stage. The best way t is by creating a resonant or clever message. You should also consider using customer stories. The more interesting a prospect finds what you offer, the lower your customer acquisition cost will be.
Also, by engaging existing customers in the acquisition business model, you can increase customer lifetime value LTV, because the customer feels like they are part of the team.
A prospect will visit your website, download the content, and may sign-up for a free trial. At this point, the prospect becomes more familiar and comfortable (hopefully) with your brand and what you offer. In customer acquisition, it’s your job to make what you offer appealing. Appealing to prospects is how you turn interested customers into paying customers.
As prospects (at this point, your target audience) move further down the sales funnel, they get closer to making a buying decision. Usually, this includes adding items to their shopping cart and watching product demonstrations. In customer acquisition, this means you are one step closer to a sale.
It is up to you to continue engaging your customers in response to their activity. In fact, it’s a big part of customer acquisition. Next, prospects will begin to weigh the costs and benefits of actually making a purchase. They may also consider similar products or brands or do nothing.
Leads or prospects become paying customers if they complete a transaction. After the sale, you can look for new opportunities to upsell, cross-sell, and reward your loyal customers.
Tips for Creating an Effective Customer Acquisition Strategy and Funnel
Before you can start optimizing your sales funnel, you have to have a strategy to acquire new customers. Today, you have more than a few options. While paid advertising, social media platforms, and content are essential, don’t forget about things like direct mail and using market research to improve your conversion funnel. Setting the right priorities will help you spend your marketing dollars wisely.
Start with the Right Questions
During market research and the planning process for customer acquisition, you should answer the following questions:
- Who is your target persona or ideal customer?
- What business goals do you have (i.e., revenue growth,
- conversions, leads, brand awareness, etc.)?
- What channels will you use for demand generation marketing?
- How are you going to measure campaign success?
Your planning will be most effective if you involve several teams in this process, including sales, leadership, product development, marketing, and others.