Tag: #digitalmarketing

How to Gain New Customers and Reduce the Cost of Acquisition

We all hope that we can get new customers on the fly with as little spend as possible. Unfortunately, such optimism is rarely rewarded.

Customer Acquisition Cost (CAC) has been (rightly) called the startup killer. New entrepreneurs often have an unfounded optimism in whatever they’re offering. In doing so, they end up greatly underestimating how expensive getting a customer can be. 

Those that have been in business know that acquiring a new customer can cost seven times more than selling to an existing one. And, depending on the industry, it can cost you between $7 to $395 to get a new client. 

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Sounds discouraging, right? 

Indeed, customer acquisition is hard. But, the real devil’s in the details here. Much of what we know here comes from statistics that average out much of the results. 

In other words, there are plenty of companies that are just doing customer acquisition wrong. So, here are a few ways you can decrease your CAC while increasing client satisfaction.

Follow a Customer Onboarding Process

Your sales and marketing might be misaligned. Your customer success team might end up dumping all the info on them at once. Or, you may not have a repeatable process in the first place. 

There’s just too much that can go wrong with client onboarding which can drive up your acquisition cost.

Building a better customer onboarding workflow will help you reduce customer acquisition costs and increase retention. Think of how you can help your customers get the best out of your product. 

A good onboarding process should include —

 

  • An easy account registration process.
  • A succinct, but well written welcome message.
  • Reminders for clients who haven’t logged in a while.
  • A step-by-step guide to product setup.
  • Educational material to help clients leverage your product as effectively as possible.
  • Milestones for each task completed by the client in the onboarding process.
  • Robust after-sales support.

 

You can even consider creating customized solutions for clients if need be. Your onboarding workflow should make sure your client never has to sit and wonder what to do next. 

Don’t Forget Email

In their quest to become social media stars, many brands end up ignoring email to no end. Big mistake. Unlike the clunky clutter of a social media feed, the inbox is deeply personal.

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Says Brian Greenberg, CEO of True Blue Life Insurance, “The power of email is that it goes directly into a consumer’s inbox. Then it stays there. Most people don’t delete things out of their inbox, so if they need to pull up a thread you’ve had together or want to find your latest offer, all they have to do is search their inbox real quick. I’ve had people contact me at True Blue Life Insurance using a seven-month-old email.”

Some ways you can use email for customer acquisition — 

 

  • Use the reciprocity principle. Offer your prospects something free in return for their email.
  • Try cold emailing. A good cold email is a personal message and solves a problem.
  • Send follow-up messages after your first ones. 
  • Don’t spam, though. Really, don’t.

 

The popularity of email continues to grow, so, consider adding them to your marketing arsenal. If you’re strapped for time, then you can use a service like Designmodo that offers tested, high converting email templates.

Send gifts

Gifts have an advantage over other promotional methods — they forge a deeper emotional connection. And customers with such a connection with a brand have a 306% higher LTV than those that don’t. 

Most marketers today stick to electronic gift items. Redeemable coupons, gift cards, feature upgrades, etc are all popular giftable items. 

For example, GetEarlyBird.io, a new Fintech service for helping parents invest in their children’s future adds $15 to every new account opened. This is a great strategy for new SaaS companies. 

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That said, don’t write-off the humble old direct mail gifts just yet. Nothing can quite beat a direct mail gift item. They’re memorable and are more visible than their digital peers. 

Use Chatbots

No one page on your website can answer all of your prospect’s questions. And, most of them don’t have the time to find what they are looking for anyway. 

This is where Chatbots can really come in handy. Now, they can’t replace a human and have had us lol with their answers at times. But, chatbots have come a long way today. 

They can answer most general questions and can even direct users to desired resources. They also don’t take breaks and are present 24/7. 

Their acceptance rate is also climbing. For example, twice as many consumers were willing to engage with a chatbot in 2019 than in 2018. Likewise, 74% of users actually prefer to use chatbots to find answers to simple questions.

They have also been used very successfully. JoyOrganics uses a highly customized chatbot that not only offers chat but has links to FAQs right in the chatbox itself. 

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Go local

Unfortunately, many companies mistakenly think customer acquisition through the internet is all about going big. The world’s their oyster, after all. 

But, don’t forget about your local market space either. The people in your immediate vicinity can relate to your product better than those living half a world away. 

Besides, local SEO is better suited to small businesses such as restaurants, dry cleaners, home repair, etc. 

Local SEO helps slash your customer acquisition costs in a few ways. Firstly, having an office in a city helps your clients see your presence upfront. Secondly, you can forge better relationships with people you actually meet. Your local following can also help you build a better brand (think KFC). 

Customer acquisition gets hard and expensive when you’re more concerned with the sale than with helping customers. All the methods described above work best when used to forward as much benefit as possible. 

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The post How to Gain New Customers and Reduce the Cost of Acquisition appeared first on Social Media Week.

http://socialmediaweek.org/blog/2021/02/how-to-gain-new-customers-and-reduce-the-cost-of-acquisition/

7 Instagram Marketing Strategies That Will Increase Your Sales

As more and more companies depend on social media to boost their reach and grow their audience, having a strategy in place is what matters most. You cannot simply hop on when you feel like it and post what you want. You need to understand who your audience is and how to sell to them in the right way.

Here are a fews reasons why social media can benefit your business:

  • It is a great way to build brand recognition.
  • You can connect with your audience and start conversations with them online.
  • Social media can help you learn more about your ideal customer through online engagement.
  • It is a cost-effective way to grow your brand reach.
  • You can also subtly market your product.

Once you realize the importance of social media, you can begin to explore various strategies that will make optimal use of your time and help your company make more money in the long run.

Be subtle with your marketing

According to Statista, the 18-24-year-old age group is the largest demographic in reference to the user base on Instagram.

Gen Z is going to be your target audience with Instagram and it is imperative that you realize that the age-old marketing techniques aren’t going to work with them. 69% of Gen Z said they find online ads disruptive so your aim should be to focus on non-invasive marketing techniques.

A good example is Apple’s ‘Shot on an iPhone’ campaign on Instagram where they post pictures that have been shot using an iPhone:


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This simple strategy allows Apple to form relationships with their audience by using their pictures taken on their iPhone and is also a much less invasive marketing technique than others.

Invest in micro-influencer marketing

Do not be afraid to invest in micro-influencer marketing. This is an affordable and non-invasive way to grow your brand on Instagram.

A great example of a company that does this is GymShark.

Gymshark was founded by Ben Francis when he was only 19 years old and has grown to be a popular eCommerce fitness brand. The success of the brand is largely thanks to the emphasis it puts on micro-influencer marketing.

Essentially what Gymshark does is reach out to fitness influencers on Instagram with large followings asking if they would be interested in partnering with the brand. These influencers will then create sponsored posts for Gymshark that will help them reach a whole new audience- the influencer’s audience to be specific.

In some cases, influencers will even add a link to Gymshark’s online store within their bio.

This marketing strategy works so well is because it is reaching your ideal audience without a heavy lift on your end.

For a Facebook ad, you have to trust that an algorithm will put your ad in front of the right people. However, influencer marketing makes sure you are reaching the right people. In the case of Gymshark, that means people who are interested in fitness.

Another great part about this strategy is that it is not as annoying to the viewer. You are not pushing an ad in front of their face that they will probably scroll by. Instead, it is much more subtle. The influencer’s followers who want to know what they are doing and wearing anyway will see your product authentically showcased within their posts.

Use Instagram tools

A good way to grow your Instagram platform is to use tools that can give you a more ‘behind the scenes’ look at what is going on.

Tools can help you focus on your analytics and past posts. This way you will be able to figure out what is working for your brand and what posts do well for you. You can also use tools for scheduling, following the right people, creating a strategy, editing images, etc.

A few tools that you should consider:

  • Grum: Having a schedule for posting is important if you want to appear professional to your audience. You cannot simply post at random with no strategy in mind. Grum helps you schedule out posts in advance so that you can get all of your social media work done in one day.
  • Owlmetrics: Looking at the data is always a good way to understand what is working for you and what you could be doing better. Owlmetrics shows you real-time analytics such as follower gender, like history, follower geo-distribution, and more.
  • Brand Mentions: BrandMentions is a social media tracker that allows you to monitor your brand and your competitors on multiple social media platforms such as Instagram, Facebook, and Twitter.
  • Zyro: This free logo maker from Zyro is a great way to create an awesome logo for your brand that you can use below every image you post on Instagram and maybe even for your profile picture if you like. Zyro is 100% free, has tons of templates, and is extremely customizable.
  • Ampfluence: Ampfluence is the best Instagram marketing agency to use if you want to see solid growth for your account. They do this by creating a customized strategy that will help you reach your target audience and grow your followers.

Let Instagram amplify your content

The end goal of your Instagram strategy should be to focus on an omnichannel approach.

For example, if you have already created written content for your blog or recorded an episode for your podcast, you can use that to create micro pieces which you can then use on other channels (posts, IG slides, IGTV videos, etc.) to get more out of your already existing content. Use IG as an amplifier.

This can even be done with the courses that you create for your audience. You can give your audience a sneak peek of a premium course by creating well thought out Instagram posts or even IGTV videos.

I always say: You have two companies – a media company and your ‘real business’ (in that exact order). The sooner you understand and accept that the sooner you will succeed with your Instagram marketing and business.

Utilize IGTV

IGTV is a relatively new feature on Instagram that lets you post longer videos with no ads (as of now at least). Also, since it is a new feature Instagram is pushing IGTV content in the feed.

Creating an IGTV channel on your Instagram is like having a mini YouTube account connected to your Instagram. You can use it to showcase DIY videos, tutorials, create a series, etc.

IGTV lets you create more episodic content that can be centered around one theme in particular. This can be really engaging for your viewers and they will come back for more.

The Budget Mom (personal finance) is a good example of a brand that takes advantage of IGTV:

Promote engagement by hosting giveaways and contests

A great way to get your audience to engage with your brand is to host giveaways and contests. It is one of the more affordable Instagram marketing strategies and is pretty easy to implement.

You can do this by following a few steps:

  • Figure out your end goal: What do you want out of this? More brand awareness, more followers, or more likes?
  • Decide on a giveaway prize
  • Create an awesome post description and hashtag to go along with your giveaway announcement
  • Decide on eligibility criteria for participants
  • Read Instagram’s rules regarding giveaways
  • Figure out how you are going to promote your giveaway: This could be by paying for ads, investing in influencer marketing, or relying on your own audience to spread the word.
  • Decide on the length of your giveaway: You need to set a time limit. Do you want your giveaway to last for a few days or a few months? When will you announce the winners? Ideally the bigger the prize, the longer you can convince people to wait.
  • Launch and promote your giveaway

A giveaway can be a great way to not only grow your brand but also learn more about your audience. New brands, in particular, see great success with this strategy.

Share user-generated content

A lot of brands make the mistake of only focusing on creating their own content instead of trying to get users to participate in the creation process. The focus should be on getting users to love your brand as much as you do.

Aerie, an activewear brand, does an awesome job of this. They constantly post user-generated content of women who wear their apparel.

This works wonders for a couple of reasons:

  • It helps your audience relate to your brand more because they are seeing people just like them using your brand and loving it.
  • If you share a picture that was posted by someone who loves your brand, it is likely that they will become even more passionate about your products and there is nothing better than referral traffic.
  • People who would love to be featured on your page are even more likely to post images wearing your clothes/ using your product/etc.

Creating a social media strategy for your small business is one of the core components of your digital marketing efforts. It is important to keep in mind that your strategy should align with your goals and should be tailored to your business.

It will take time to figure out exactly who your audience is and the best way to reach them but hopefully, these 7 ideas gave you a place to start.

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The post 7 Instagram Marketing Strategies That Will Increase Your Sales appeared first on Social Media Week.

http://socialmediaweek.org/blog/2020/09/7-instagram-marketing-strategies-that-will-increase-your-sales/

Empower Your Cause Marketing with Influencers

How effective is influencer marketing? Just by its nature alone, we can assume the answer is “very.” Major brands spend millions a year to get influencers on their side to promote their products. Non-profits and movements have also found mainstream support thanks to the visibility from influencers and celebrities standing behind their values.

Admittedly, this industry has taken a hit in 2020. Many influencers who were once paid to engage in the community, travel and create content outside of the home are losing contracts due to their inability to meet that end of the bargain. It has led some to wonder if the era of influencer marketing could be dying in the face of a changing economic landscape due to the pandemic.

At the end of 2019 and into the beginning of the year, many believed that influencer marketing budgets and campaigns would be skyrocketing, not declining. What was once relevant has taken a sharp turn and we are forced to look not at numbers but at anecdotal evidence.

This kind of data is still valuable. Using COVID as an example, you can see that the outpouring of support for hospitals, people’s campaigns, homeless shelters and more has grown across the globe, even as many have faced economic hardships themselves. Why? It is due to the kindness we share with one another in times of trouble. But it could also be in part to influencers who are using their muscles to share these messages and bring in donations where they are needed most.

Utilize Influencer Marketing For Your Own Cause

According to a Cone Cause Evolution Survey, 87% of the participants who were asked said they were not only willing but would absolutely switch to another brand if they found out they were supporting a cause in which the customer believed. This shows that the desire to support causes through brand awareness is already there — your job is to get the message out.

Here is where influencers come in. An influencer already has a strong audience that is loyal to them as their own brand. They enjoy their content and have largely stuck with them even as formats have changed to meet the demands of quarantine. The first part of the process is already done for you: visibility.

In fact, influencers are becoming a real marketing powerhouse across an array of industries including cosmetics and beauty, fashion, education and nonprofits. Influencers can drive traffic and exposure to just about any project, even if it is brand new and has no traffic of its own.

Next, we want to be targeting those influencers. This is also easier when we are looking at causes versus products because we are narrowing in on something about which the influencer feels strongly. We can assume their audience also falls into that demographic and are more likely to also care about that cause–it may even be why they are following that influencer in the first place.

Approach with The Cause In Mind

Influencers get plenty of offers for campaigns, so you need to stand out. Come out with a strong message about the cause and how you think they would specifically be useful in promoting the message. Let them know what specific characteristics they have that make them uniquely suited to work with you, like their passion, content, or aesthetic.

Share what it is you hope to accomplish and how they can be a part of it. Have a specific task you have in mind for them–don’t just tell them that they will be sharing posts. Remember that influencer marketing is more than just connecting with those influencers. It is about getting them directly involved with a campaign tailored to their talents and their audience.

One tool to help you here is Text Optimizer that allows you to better research context around your target keyword and create a more optimized content and social media strategy when working with an influencer:

Text Optimizer

Don’t Target a Single Influencer

The more channels you have promoting your cause, the better. Lady Gaga managed to raise $35 million for Coronavirus efforts early on in the US stages of the pandemic. It was an amazing feat, but we can’t all get Lady Gaga signed onto a cause, especially when she is already associated with so many top notch brands.

In contrast, YouTuber Vaush managed to raise $19,000 for the Black Lives Matter movement through streaming his Minecraft videos. Mr Beast raised $20 million to plant trees around the world in an effort to correct environmental damage done through deforestation and climate change.

Influencers come in all different sizes of viewership, ability and passions. Can you imagine what having two on your side would do? Three? Thirty? There is no limit to how many influencers you can get on board, particularly for a good cause. It is all about finding the ones who most represent what you are hoping to accomplish.

Have Your Creatives Ready

While most influencers will prefer to create their own assets to be in-line with their styles and aesthetic, having branded content ready is always helpful. Creating your own branded kit and sharing it with influencers is a great idea–include your logo in different dimensions, screenshots or visuals available for reuse, and color palettes. Both Visme and Venngage are good resources.

At the very least, create some visuals featuring your logo and message for influencers and publishers to reuse (and even take offline in the form of branded merchandise) easily. Here are plenty of free templates on Placeit to help you.

Create branded visuals

Whichever social media channels you decide to use, make sure you have your own site set up to promote your cause and consolidate your whole marketing strategy around your site. Make sure to publicize your story and reuse your visuals on your own site to build consistent visibility that doesn’t rely on any single third-party platform.

Cause marketing is tough but the right influencers are able to make a real difference.

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The post Empower Your Cause Marketing with Influencers appeared first on Social Media Week.

http://socialmediaweek.org/blog/2020/08/empower-your-cause-marketing-with-influencers/