For new customer acquisition in 2020, business owners should balance past tactics with new strategies. This way, they can maximize their return on marketing investments. Here are four strategies for boosting customer acquisition in 2020:
1. Refocus efforts on identifying your target customers.
It’s easy for businesses to adopt the mindset that everyone wants the products or services they sell. But the fact of the matter is that the most successful enterprises work hard to target specific groups of customers to whom their offerings are most attractive.
Without a defined audience, your branding and marketing messages lack specifications needed to reach those prospective consumers who most need or want what you are selling. Virtually all businesses have one or more niche markets where they are most successful. The goal of fueling new customer acquisition in 2020 and beyond is to more clearly identify these niche groups, and not waste time and resources where there’s the least chance of generating new customers.
2. Explore opportunities with video.
It’s a simple fact of marketing–consumers respond favorably to visual content that’s both educational and entertaining. Businesses that have previously neglected this approach might find exciting opportunities to highlight their products or services through video in 2020. Types of video that are most successful include:
- Explainer or “how-to” content. This can be especially effective if the benefits of your offerings are immediately clear to prospective customers (or might be, as in the case of B2B, too complex to grasp through written content only). Video is also useful for informing people of multiple uses or features that might otherwise get lost in your marketing message.
- Testimonials. Nothing impresses prospective customers more than seeing and hearing from customers who are satisfied and enthusiastic about your business. Recruit a handful of your best customers and offer incentives to them for speaking [positively] on camera about your products or services.
Video was once considered too expensive to produce. Now, it’s relatively cost-effective with advanced camera technology, as well as smartphones and other mobile devices. At the same time, it’s important to commit to the highest quality production values with your video campaigns. (Anything that appears amateurish or made on the cheap sends the wrong message.) Invite freelance videographers or production agencies to pitch ideas about how to feature your business in smart, appealing, and well-made videos.
Once you have fresh video content in place, get it out there! Social media is the obvious choice. Followers on Facebook, Twitter, Instagram, LinkedIn and other platforms already view this type of content. Posting videos on your website and offering links through other marketing efforts makes it easier for new customers to access them.
3. Social media campaigns.
Additionally, another option for established businesses and startups is to engage in concentrated social listening. A variety of resources are available on Twitter and other platforms for you to “listen in” on community discussions and to target users and groups to generate fresh leads.
Social media marketing campaigns are another effective lead-generation strategy. Organic social media aims to boost brand awareness through distribution of free, value-added content and/or participation in industry-related groups. Paid social media efforts increases your brand and content visibility within your target audience.
Depending upon your product or service, a focused giveaway initiative could be the most effective new customer acquisition strategy. Let prospects know they can experience your offering on their own (at no charge). Free product trials and/or no-cost software downloads could demonstrate the value of your product or service. A favorable experience on their part may lead to the next step in the purchasing journey.
Keep these strategies in mind. Look into automation software that saves time and resources. They’ll automate processes to help maintain contact with existing customers and potentially reach new ones. Automation of social media, content and email marketing efforts enable you to keep customers appraised of forthcoming sales and discounts, re-connect with former customers and make it easier for loyal customers to send referrals.