Lastly, adding a blog to your website is relatively easy, depending on your hosting platform. Download our free Beginner's Guide to Email Marketing to learn how to execute and measure successful email marketing campaigns. The goal of this process is to create a systematic, sustainable acquisition strategy that can evolve with new trends and changes. Save time creating blog posts with these six free templates. That’s customer retention in action: working to retain your customers (instead of paying to replace lost ones) is actually an acquisition method in itself — and a cheaper one at that. Consider using social media management tools like Hootsuite or Buffer to help you curate and post content on your networks. Personally, I find it motivating. Well, the first two statements are unfortunately correct, but rest assured, the last one is not. Yuck … the word itself doesn’t sound too friendly, much less is the definition behind it. Knowing if you have a good customer acquisition cost can be hard. Regardless of how you plan to retain your customers, there’s one common denominator: providing an amazing customer experience. Customer Retention vs Acquisition. Sure, your marketing team is responsible for developing and releasing new promotional materials that may spark interest in new customers. Otter's free plan is pretty generous — 600 minutes of recordings and unlimited .TXT exports, so I don't personally plan on upgrading anytime soon. hbspt.cta._relativeUrls=true;hbspt.cta.load(53, 'c3a689c3-995d-421a-b1f1-636492110c49', {}); Originally published Sep 25, 2020 6:30:00 AM, updated September 25 2020, The Ultimate Guide to Customer Acquisition for 2020, f this customer acquisition channel is new to you, consider holding a small webinar or virtual summit like the folks at, customer retention as an acquisition strategy, delivering on more than the basic customer expectations. Here are a few CACs benchmarked across a variety of industries. Creating new, exciting, and relevant content is a highly effective way to snag your audience’s attention and send them to your website. Growth. It's also unique in that it actively involves your customer service and success teams. Organic social media also capitalizes on the virality factor, inspiring your customers and followers to help you advertise (as we'll discuss later on). Or put another way, ⅓ to ⅕ LTV. Equip them to succeed, and they’ll go to work on your behalf. Acquisition marketing is different from other marketing because it specifically targets those consumers who have become aware of your brand and are considering making a purchase. If you consider a customer referral valuable for your business, you must provide something equally valuable as a trade. So, one cannot overemphasize the importance of customer acquisition. Also, diversifying your customer acquisition strategy creates a balance between risk and reward, meaning if one channel begins to fail (see: salespeople example above or the declining effectiveness of organic Facebook reach), it’s easier to reallocate funds for a new, better-performing method. They build an email list, and they leverage that email list to connect with and convert their customers. Kaleigh has also been sending a bi-monthly email newsletter for five years, full of freelancing and writing tips and stories for her audience. 3. If these questions seem intimidating, don’t fret. In marketing circles, Facebook is considered the most important platform for both B2C and B2B businesses. Reducing the costs of customer acquisition and proving the ROI of marketing efforts are two of the most commonly cited marketing priorities among companies. Anything lower and your customer acquisition cost is too high. Consumers are increasingly skeptical of brand claims and anything said about a product by the company or its reps. In the last five years, the cost of acquiring new customers has increased by over 50%. So, if a SaaS customer LTV is $1,000, then their customer acquisition costs should be in the range of $200 to $300 to stay competitive. A targeted customer acquisition strategy requires taking a step back and figuring out what’s best for your business, resources, and audience. SaaS expert Lincoln Murphy talks about “fully loaded CAC”, which includes everything it takes to get a customer on board, from “the cost of advertising, marketing, sales, support during the Free Trial, on-boarding cos… When you diversify your acquisition strategy and use various acquisition methods, you have a greater chance of reaching new audiences and generating new leads. And customer acquisition typically refers to the funnel as a whole. A great example of an effective referral program is Airbnb. Download this Ultimate Video Starter Pack to get resources and tips on how to get your video marketing strategy off the ground. *tear*. have a 3:1 ratio). By "gamifying" the persona creation process, HubSpot successfully captures the information of people who are interested in making their own buyer personas. Does/did your company spend money on marketing efforts that are slated to pay off in the far future? Summary. Say you invest in a Q3 campaign but pay for it in Q1. Average Customer Acquisition Costs by Industry. Below are the median costs per acquisition within the Google Display Network (GDN) in 2018. omit campaigns with unnaturally high/low CACs. Running a blog allows you to explore different topics, flex your knowledge in your industry, and build authority among your readers. For example, if you plan to acquire new customers through a blog, you should have the tools and resources in place to ensure content production lives past one or two posts – effectively bringing in organic traffic for months or years to come. ... Industry-Specific Queries. It’s when bees spread pollen between a variety of plants, bringing about variations of species that better withstand time and nature. Assuming a three-year customer life, this business can spend around 12 … SEO is far from an exact science, but there are some proven methods to help your content rank better. But research has shown that the key to growth lies not with your marketing or sales team but your customer service team, and your customers themselves. Simply enter in a topic or phrase you think your customer is interested in, and find out how these consumers navigate the internet - the searches they conduct along their path to purchase and the content they're interested in consuming. Having a graphic designer and editor on board can help ensure your content is optimized for both search engines and reader experience. Outside of direct sales, there’s no better acquisition tactic than email marketing that gets to the heart of the individual customer. Again, you can create these with in-house or outsourced resources, but be aware that they might require an extra set of eyes and a unique promotional plan. It’s also referred to as customer attrition or turnover. That's why acquisition marketing is broader than just your marketing team. Your blog writers can be dedicated employees, freelancers, or guest writers. Content is Your Most Powerful Acquisition Channel. 10 W Market Street, Ste 1950Indianapolis, IN 46204Call us: 1-317-993-3620. Create Click to Tweet links so that your customers can easily share social posts, and ensure each piece of published content has options to share via email or social media. 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