Each month, we tackle a different marketing topic to see how automation can help you do your job quicker and slicker. This month, it’s the turn of acquisition marketing…
A simple search on the internet will tell you that it costs 6–7 times more to acquire a new customer than it does to retain an existing one.
So that settles it. Invest 100% of your time and money into your customer retention initiative and you can’t go wrong, right?
Well, actually, we think too many companies focus too heavily on customer retention and forget the simple truth – some customers will leave. Nothing you can do will completely eradicate this risk!
So, it’s vitally important to keep bringing new customers through the door with an impactful but cost-effective approach to customer acquisition – one that is as easy as possible to run and, more importantly, provides measurable and actionable results.
How can marketing automation help with acquisition marketing?
Put simply, with Force24 and the support of your dedicated account manager, you can work on your acquisition and retention campaigns simultaneously so that they’re guaranteed to support each other, rather than pull you in opposite directions.
For example, you can concentrate on:
- Prospect lifecycles
By utilising all relevant marketing channels, from the outset of a campaign, you can establish which each contact responds best to, in order to make future marketing efforts even more personal and impactful.
- Cross channel automation
Don’t forget you can automate email, direct mail and SMS comms. This won’t just guarantee your message is heard – you’ll also gain respect from the recipient by treating them as an individual in an increasingly consumerist world.
- Buyer personas
Take an educated guess as to what your prospects want to hear, how they want to hear it and more, by using information gleaned from past experiences with prospects displaying similar buying profiles.
- Reflex actions
Show your prospects exactly what you want them to see, in the order you want them to see it, guiding them through your brand and your sales process your way.
- Dynamic content
Tailor your messaging to suit individual prospects based on their engagement history and website activity.
- Cart abandonment
Make the most of every potential sale by following up on those who show cart or basket activity but don’t complete the check out.
A savvy approach to acquisition marketing can help raise brand awareness, maintain a steady flow of new customers into your business, and attract the customers you’ll later retain for improved ROI.
Only 40% of companies have an equal focus on acquisition and retention. But, executed properly, acquisition marketing can complement your retention efforts, not overshadow them.
With a wide range of marketing techniques and sophisticated automation technology up our sleeves, we’ll work with you to ensure you’re making the maximum impact with minimal spend and effort.