Your customer base is the proverbial goose that lays the golden eggs, in that you have to keep feeding new customers into it in order to maintain profits. Yet you’re probably already aware of just how costly feeding that goose can become. If you allow your customer acquisition costs (CAC) to become to too high, you’ll quickly see those golden eggs start to shrink as your goose becomes a bloated, unhealthy mess, incapable of producing the kind of results you need.
Thus, the challenge then becomes being able to grow your clientele by bringing the right kind of customers in at just the right price. Sounds simple enough, right? Well, without a working knowledge of the market strategies proven to achieve such a goal, you risk wading through an unending stream of unsuccessful marketing ploys.
Proven Cost-Effective Techniques
- Optimize and grade your leads: Too often, undecided clients let the sales cycle linger out of control, turning sales reps into marketers. Set clear criteria for your marketers based upon targeted, segmented feedback to determine what qualifies as a lead that can be passed on to your sales team.
- Focus on what works: Monitor initiatives to see which yield high and low conversion rates. Don’t be afraid to abandon those that produce few results.
- Don’t be afraid of customer trials: Market research has shown that consumers value a company’s willingness to guarantee their products or services at their own potential expense. By offering your new customers a trial period, you’re more likely you keep them over the long haul.
- Indulge their need for instant gratification: By offering an incentive to work with your company, you’re engendering within customers an immediate sense of brand loyalty.
- Enter the virtual world: If you’re one of the few holdouts that has yet to fully embrace internet marketing, it’s high time you became converted. Recent years have seen online marketing catch up and even threaten to overtake traditional marketing methods as the preferred choice in the business world. Much of that is due to its cost-effectiveness. Campaigns built around SEO and PPC often achieve better results than most other real-world marketing strategies, and often at a fraction of the cost.
The battle to keep your CAC down can be a difficult one, yet if you remain committed to seeing it done and have the right resources at your disposal, you can successfully keep your golden goose a laying. We here at HawkSEM are one such resource. As experts in SEM, we’re well-versed in all of the market strategies proven to keep customers seeking you out without you having to break the bank. To see just what we can do for your company, contact one of our team members today.