“How can I plan effectively to acquire more of my target customers?”
As a marketing consultant, this is one question I used to come across a lot. Especially, the startup businesses that want to meet with the potential investors need to be very clear about this aspect in order to prove the effectiveness of their business approach.
So, how it is done by those who are successful? Cold calling? Bulk mailing? Search Engine Optimization? Pay per click advertising?
You may be able to list out hundreds of such channels which marketers use, but it is essential to be clear about the viral hooks you may include in those. You need to create a unique PR angle to be authentic.
What is an ideal customer acquisition plan?
In a real scenario, an ideal customer acquisition plan must evolve as a business grows. It is a fact that something that works initially may not work the similar way later on, and what haven’t worked at some point may turn out to be an ideal strategy at some other time in future.
An expert opinion about start up growth and customer acquisition is presented below.
“The growth of a startup business used to happen in spurts. The growth is naturally slow initially, but then it spikes once an effective traction channel gets unlocked. Ultimately, it flattens out as that channel meets saturation and turns out to be less effective. Then, you should be capable of unlocking the next big strategy to crate another spike.”
This shows that you need a dynamic approach to customer acquisition and develop a thriving process which will move you forward. Say if you use a flow chart template to define your customer acquisition process over time, you should be able to identify a smooth flow of this process without gaps.
So, the ideal question is “Have you defined an ideal process for customer acquisition?”
Once you establish your business goals, you can:
- Create a system to work within.
- Fill it with strategies and ideas to align it with the defined goals.
- Break down the strategies into specific actionable tactics to work.
Creating an ideal customer acquisition plan
Step 1: Define your ideal customer in terms of age, gender, demographics, location, educational background, and other relevant elements.
Step 2: Define your goals on what you want to achieve through your customer acquisition strategies.
Step 3: Define the exact customer acquisition funnel by breaking down the journey to identify whether it is leaky at some point, where the biggest opportunities lie, and where there is a bottleneck in the funnel.
Step 4: Set your metrics by using the statistical tools like SaaS Metrics and also use business metrics calculator to identify the worthiness of campaigns that have been implemented.
Step 5: Keep a track of everything from the very first day. An ideal customer acquisition plan will have well calculated strategies organized well in advance.
A proper customer acquisition plan may give you the best chance of winning your business goals and lead to success. However, having a good plan is just the beginning. As an entrepreneur, you should be able to execute, analyze, and constantly iterate your customer acquisition plan to taste the real success.