1. Assess what your competition is doing
Your competition may not have all the answers, but it is helpful to see what others in your industry are doing well and how you might emulate or improve upon that. The easiest place to start is with your competitors’ social channels. What kinds of content seems to be getting the most engagement? What kinds of ads are people responding to? This will clue you in to what might work for you, as well.
2. And where they’re falling short
If you’ve identified a channel where your ideal customers live, and your competitor doesn’t have a presence there, you may be able to maximise the opportunity by focusing your efforts in that area.
3. Consider your budget
Traditional acquisition tactics like print media, television, and radio are as powerful as ever, but they’re far more expensive and rigid than their digital counterparts. If you’re on a tight budget, experiment with affordable tactics like organic content marketing, social media advertising, cold calling, and community events.
4. As well as your goals
Do you need to scale aggressively? If so, you will need to diversify your acquisition channels. Alternatively, if you are trying to attract a specific type of customer, your effort will be better spent fostering deep relationships with clients rather than casting a wide net.
5. And your target audience
Your audience is key. You could be an expert in acquisitions on a specific channel and still fail if your target market doesn’t spend any time there. So, where are your customers hanging out?
6. Start off with three channels, max
The more complex your customer acquisition strategy, the harder it will be to stay focused and make the right adjustments. Quality is far more important than quantity.
7. Test one new acquisition channel at a time
It can be difficult to cut through the data and the noise while juggling many different acquisitions strategies. To make things simpler, introduce new acquisition channels one at a time and compare them to what’s already working. Give them time to play out and respond to your adjustments, too. It may take several weeks of adjustments for your Facebook or PPC campaign to result in clicks and conversions.
8. Consider paid acquisition channels in the short term
Paid acquisition can be very lucrative, but it’s no replacement for owned and earned media strategies that pay off for years to come. Allocate part of your budget to paid channels and experiment to find which ones have the highest ROI, then focus on optimising those channels. Even if you don’t have much for an ad budget, you can run most digital campaigns with as little as $5 per day.
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