Customer Acquisition: Challenges & Opportunities

Amid volatility of global economy and market uncertainty  always hanging like a Damocles’ sword, an active customer database offers businesses much to cheer about- the power to carry on with their trade despite umpteen odds!

Customer demographic

It is true that for any type of business, online or otherwise, customers are its lifeline. But customers’ demographic is undergoing a generational change. Modern means of communication, especially social media, is spawning a new breed of knowledgeable and well informed customers. All these factors have thrown up new challenges of building on the existing customers’ base. Enterprises are faced with a daunting task: how to acquire new customers and ensure the return of old ones to their stores.

New customers

It is in this backdrop that businesses and enterprises are increasingly focusing their time and energy on customer acquisition. But while doing so, as per the market experts, it is also important to link the exercise to the overall marketing strategy. This is obviously to ensure that after a day’s hard toil you have the satisfaction of adding a few new customers to your data base.

Effective strategy

A result oriented customer acquisition plan is possible provided it is driven by a combined game-plan of intelligent marketing strategy and effective technology support. A effective data tagging and unified customer profiling helps build on and consolidate the process of customer acquisition for the businesses.

Sync with social media

Marketers running customer acquisition campaigns and social campaigns in isolation, can miss out crucial insights.People who are likely to turn into your prospective valued customers, form an integral part of the social channel. So, enterprises may ignore this medium at the cost of their long term gains. But it is important that businesses are able to track all leads and new prospects to the source.

Engaging with customers

The first step towards customer acquisition is to undertake analysis of places witnessing customers’ engagement with business product or service. This needs to be followed by efforts to make customer engagement with your business interesting. Customers can be engaged effectively using new tools and techniques while working and reworking on fresh acquisition plans, simultaneously.

Personalized communication

A direct interface with customers at your stores provides with a golden opportunity to personally know them better and make acquisition exercises, more meaningful. It is always useful to add window-shoppers to your mailing lists and know about his or her liking for a particular product or service.

One can also collect useful customer data, which can bring relevance and making it a starting block for building a long relationship through personalized communications.