What turns a prospective customer into a newly acquired one? Every company needs to discover the answer to this question as it develops its own acquisition marketing initiatives, and the answer is often different depending on the organization's target market. However, there are some principles that tend to prove enduring across industry lines, and using such strategies, businesses may be able to attract new clients to their business and effectively reward them for their choice.
Help Scout explained that one thing that frequently serves as a major motivator for consumers when deciding to sign up for a service is the chance for advancement. The source noted that users are often attracted to companies that allow them to accrue points and reach different levels of membership. Help Scout asserted that putting programs that include these aspects in place can be one way to incentivize sign-ups, and it's an even better idea to help newly acquired customers get a head start. For example, businesses could offer bonus points to the consumer for getting started, as this will show them that just by signing up, they can be on their way to desirable loyalty rewards.
High perceived value
Entrepreneur Magazine stressed that another important thing to remember is that for acquisition marketing programs to be truly effective, companies need to develop a deep understanding of their target markets and leverage those insights to create more personalized offers. The source advised that every organization should make a detailed profile of its ideal clients, including what other products and services they might enjoy. The source pointed out that, for instance, a birdseed store's customers might also be interested in outdoor equipment and local conservation groups.
But why do businesses need this information for acquisition? Entrepreneur explained that a good strategy can be to team up with other local companies. The news provider stressed that strong offerings often consist of free or deeply discounted products or services that are of low cost to a company but of high perceived value to the consumer, and that could include location-specific deals that appeal to the customer's other interests. For example, a hotel might be able to acquire new customers by showing them that establishing a relationship will give them access to deals on local attractions, discounts at travel-related retailers and more.
Finding new customers isn't always easy, but the process goes much smoother when businesses know what their clients want. Through a combination of highly valuable, customized rewards and exciting membership program opportunities, companies may find themselves welcoming more customers and achieving new levels of business success.