How Modern Customer Acquisition Strategies Can Help Businesses Grow Tremendously

Customer Acquisition is a term commonly used in business world where business matters are dealt with buyers and clients. It is usually helmed by marketing and sales department of a business and can be understood in a simple way breaking it down based on the diversified approach taken for it.   

The process of attracting or gaining new clients for services or customers for products is referred to as “Customer Acquisition.” The process comprises of carefully developed strategies and subsequent activities that could attract potential customers or clients to first experience and try their services, products and eventually converting them into paying customers.

What are different types of Customer Acquisition Strategies?

There are different strategies. These strategies are skilfully developed by experts of marketing and sales department according to the target market and industry. Also what’s’ taken in account is specific business goals of a corporation.  

Organic Acquisition Strategies:

As the name suggests, this strategy is based on attracting customers in a spontaneous way without paying money for it. This strategy takes time to build a customer base but is economical and best suited for SME’s (Small and Medium Enterprises).

For example:

Working on improving SEO (Search Engine Optimization) of your website through which you are promoting your business. This will help rank a website higher in search engines and find more potential customers for a business.  

Marketing through Engaging Content:

This is a new age method in which marketing teams create engaging and helpful content like blogs, youtube videos and eBooks and promote it through digital medium to attract potential customers.

For Example, A fitness product brand may try to attract customers by regularly providing them with well researched and high quality content on health and wellness. 

Paid Acquisition Strategies:

These strategies include paid marketing tools to appeal potential customer and clients. Some of the common methods are:

Social Media Advertising:

Businesses promote their products or services using paid tools on popular social media platforms like facebook and instagram. These ads are run setting targeted audiences, demographics and age groups to attract specific customers.

Pay Per Click (PPC) Advertising Strategies:

Pay Per Click is a paid mode of marketing. Businesses use platform like Bing Ads or Google Ads and pay a fee every time a user click on their ads.

Referral Acquisition:

This model is based on the concept where existing customers of a business are encouraged to refer new customers based on their great experiences.

This can be done by either:

• Referral Programs: By offering incentives to existing customers in exchange of bringing in new customers.

• Partnership Acquisition: Or by collaborating with other businesses to get noticed by their customers/clients. For example affiliate marketing, where external businesses can earn a commission for referring new customers and qualified purchases.

Irrespective of the approach taken for customer acquisition, it is an integral progression of a profitable business. To grow a successful business, customer acquisition is an essential component that will require strategic decision making, innovative approaches, technological assistance and consistent efforts. If a business is willing to adapt to the trends of the market in this regard, they can get fruitful results.