Customer Acquisition Strategy
Your customer acquisition strategy is the process your business uses to acquire customers. Your strategy should be systematic, measurable, sustainable, and agile.
A systematic approach involves clearly defining all the strategies that your business will use to reach more people, get more leads, acquire more customers, and turn them into your raving fans!
A measurable approach involves deciding what metrics or KPIs (Key Performance Indicators) you will use to evaluate and determine the ROI (Return on Investment) of your strategies.
A sustainable approach involves optimizing your strategies (working smart, not hard) to drive your CPA (Cost per Acquisition) down to ensure that your strategies are profitable. Only profitable strategies are scalable.
An agile approach involves using an iterative process to be able to quickly and easily pivot your strategies to respond to changing trends in customer behavior, emerging technologies, and sociocultural shifts.
The customer journey for any business involves these stages:
- Awareness / Visitor
- Consideration / Lead
- Decision / Customer
- Retention / Loyal Customer
- Advocacy / Raving Fan
#1 Awareness (Visitor)
In this stage, your business uses strategies to reach the right audience with the right message at the right time to attract them to your website. This is your first impression! The goal here is to get a person who didn't know your brand existed to become a website visitor and discover your brand. This is where the top of your marketing funnel must reach the right audience (people who have a need or problem that your brand solves) with the right message (content that successfully conveys that you understand their problem, and you have a solution) at the right time (when they are looking for a solution). Exactly how your potential customers become aware varies depending on your brand visibility, and this is exactly why having an awareness strategy that works is so important.
#2 Consideration (Lead)
In this stage, your business uses strategies to get visitors to consider your brand. The goal here is to engage them with meaningful content that builds trust and demonstrates your brand has the expertise and authority to meet their need or solve their problem. When you can get a website visitor to provide their contact information in exchange for more engaging, relevant, and meaningful content, then you have successfully acquired a lead. Now, you can communicate directly with your potential customer. This is where the middle of your marketing funnel must be able to get qualified leads ready to buy!
#3 Decision (Customer)
In this stage, your business uses strategies to answer the question, “Why should I choose you?” and make a purchase decision. The goal here is for the potential customer to select from their options and follow through with a purchase. This is where the bottom of your marketing funnel must be able to convey that your brand has the best solution to their problem. Your success at this stage can make or break your business.
#4 Retention (Loyal Customer)
In this stage, the real magic happens! It's probably the most important part of the customer journey. Why? It's much easier and much more affordable to keep a customer than to acquire a new customer. Your business must have a customer retention strategy because scalable and sustainable growth can only happen when you turn first time customers into repeat customers!
#5 Advocacy (Raving Fan)
In this stage, your brand has the opportunity to scale and grow beyond your wildest imagination! It's also the hardest stage of the customer journey to achieve. This is where you turn loyal customers into into brand advocates aka raving fans! Your fans say great things about your brand, they refer their friends and family, and they stick with your brand for years to come.
If you're interested in developing a strategy or taking your brand's current strategy to the next level, Start Smart Now can get you there. Our customer acquisition strategy consulting retainers range from $2,500/mo-$5,000/mo depending on your specific needs.
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