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Customer Acquisition

🎯 Get our Customized Marketing Course for Different Sectors 💡 Use the code "Youtube30" at checkout & get a 30% discount today! 🔗 https://easymarketingschool.org/courses/ No matter what industry, niche, or profession you're in, paying customers is the lifeblood of any business. Although every business owner and manager cares about customers, not everyone looks at them through the lens of a good strategy for getting customers. With a customer acquisition process in place, you can make your revenue more predictable and repeatable, rather than a random occurrence. You'll also have a better idea of how it all affects your finances, such as the average amount each customer brings in compared to how much it costs to get them and keep them. You've come to the right place if you're looking to create a strategy for acquiring new customers. In this video, we'll discuss what it is, how to figure it out, and how you can start using a customer acquisition strategy right away. What does it mean to acquire a customer? In its simplest form, customer acquisition is the process of turning potential customers into paying customers. But a customer acquisition strategy is much more than that. It's a measurable, repeatable marketing process that catches the attention of a potential customer, moves them through the buying cycle, and turns them into a long-term paying customer. Calculating the cost of customer acquisition (CAC) Every company needs to know how to figure out how much it costs to get a new customer (CAC). It's how you find out if your marketing strategy is successful. To figure out your CAC, divide the total cost of marketing by the number of new customers you got. Formula for Customer Acquisition Cost: Total marketing expenditures divided by total new customers Let's say our LinkedIn page brings in 15 customers a month and you spend $200 developing content. Your CAC would be $200 divided by 15 customers, or $13.33 per customer. Once you've determined your CAC, you can use it to figure out how much money you'll make on each order. For example, if a customer spends an average of $70 at your business and you keep a 50% profit margin on each order, your profit would be: $70 (average order value) x 50% (gross margin) - $13.33 (CAC) = $21.67 (profit) Try these six methods for gaining customers. Are you ready to start your own customer acquisition efforts? Let's look at a few of the best tried-and-true techniques that brands all over the world use. 1. Email marketing is one of the most profitable types of marketing. According to Statista data, brands in the retail, ecommerce, and consumer goods industries made a huge $45 return on investment (ROI) for every $1 they spent on email marketing. You must first build an email list. You can do this with pop-ups and newsletter signup forms on your website, as well as contests and giveaways on your website and social media. There are many ways to use email to develop relationships with leads after you've built your list, including: Newsletters. Keep your customers informed about what's going on with your business. Discuss news and new product launches, and be creative with "behind the scenes" content like how your products are made and who your team is. Promotions. Have a sale or event coming up? Create interest through email. Transactions. Use sign-up and purchase confirmations as a chance to sell, upsell, and cross-sell more goods. Copywriter: Kamran Tagiyev Voiceover author: Jeremy G. Animation author: Asad Asadzadeh Sound editor: Mahluga Taghiyeva Project manager: Kamran Tagiyev