John was excited about his idea to start an online education company. The first step would be to build the platform. With social platforms, the reach looked easy as it had to be done online. Well, when your customers are online, they have to be acquired online.
That’s an interesting point to think over. With the evolution of Digital Marketing, have we eliminated all the other means of marketing already?
When John completed his product part and was ready to take his services to the market, he set aside $ 1000 per month for digital marketing. He had plans to reach out to his target customers through Facebook. Yes, most of the youngsters were out there on Facebook, especially his target customers from 18 to 25. The fact that his products will be liked and shared on Facebook excited him.
He saw a tremendous opportunity when he realized that for a small budget of $ 200 he could reach 100,000 potential users.The price looked incomparable. The only other mediums that he could think of was leaflet distribution, radio ads and the costliest amongst all the newspaper ad.
If John could acquire customers at $ 200 investment, the same is applicable to others as well?
If there were a formula to acquire customers, then that would have been one of the most natural things to do for anyone. Is it that easy?
There is no single formula for customer acquisition!
We are not going to reinvent any new concept here. But, it’s essential for us to align ourselves with AIDA – Awareness, Interest, Desire, and Action, for the digital world.
Whenever one spends on Google Ads or Facebook ads, it just goes towards the awareness aspect of your client acquisition process. The ads that you put in Facebook or Google are to inform your customers about your existence. The more you spend money on awareness the least that you are doing towards converting your potential audience into a customer.
The next step towards client acquisition would be about creating interest. This is the point where there are some exciting aspects of your product, a solution to some of the burning problems of clients are presented either through a blog, interview, PR or through a third-party report.
Developing a desire for your product or service would come when your target group starts seeing reviews about your product, customer testimonials, user experiences, etc.
This is the time when a lot of customers are looking for taking the decision. They are okay with experiencing your product or service before making the payment. To make them move to this stage, you might want to offer a freebie like a 5-day trial offer. Making them touch & feel your product or service will help you convert a lot of such customers. The key is to convert customers who have reached your desire phase of acquisition to action.
The Action! How do you make your customers buy your product or service?
You can keep them hot through regular emails, WhatsApp campaigns and SMS updates about your services. A lot of such customers who have already experienced your product or service will wait for that one single thing needed to use your product. One of the best marketing technique to be tried during this phase would be a referral marketing activity. The challenge in referral marketing is a topic for another day.
How do you make your potential customers act on your marketing activity? As mentioned earlier, at each stage you will acquire customers depending on the individual you reach out. There are ones who wouldn’t mind trying your product at a very early stage to experience while there are some of them who wait for a confirmation before they make the buy. Discounts, offers, free-trial, referral, etc.
Each stage requires different messaging, tools and techniques.
Check out our blogs for some interesting insights on marketing strategies that would suit you. You could also reach out to us at email@example.com to review your marketing budget and work on your overall marketing strategy.