Developing a customer acquisition strategy is one of the most challenging tasks for any company.
More than 50% of marketers believe that customer acquisition is the most important marketing expenditure.
Understanding customer acquisition can make a lot of difference in the performance of any company, be it small or big.
Technology has impacted every aspect of marketing, be it advertising to customer surveys.
Similarly, customer acquisition can benefit greatly from the use of tech and tech-based services. Companies that do not pay attention to tech-based customer acquisition will miss out on substantial future gains.
40% of marketers feel that budget is the biggest challenge to customer acquisition.
However, the right use of technology can save costs while improving performance. It is one of the biggest perks of tech-based customer acquisition for small businesses. Some of the most widespread use of technology in customer acquisition comes from small and medium enterprises.
12 Smart Technology-Based Ways to improve customer acquisition
The strategies we will talk about focus on racing more customers, converting more leads, and using tech for word-of-mouth marketing.
A combination of these tools can take your customer acquisition strategy to the next level.
1. Market products and services across channels
In 2022, it is no longer viable for companies to only focus on one or two marketing channels. Marketing channels have expanded in all directions, and not only in the digital space. Even print marketing is seeing a resurgence and is becoming widespread.
Tech-based products allow you to market across different channels with the differentiators that each medium requires. Be it e-mail marketing or social media marketing or print marketing, technology can help you get more things done in less time.
2. Event-driven marketing
Events are a great way of bringing in new customers. The phenomenon of integrating live and virtual events with marketing is termed experiential marketing.
Tech-based products play a key role here.
For example, it is now possible to host simultaneous physical and digital events with the use of technology. Using these tools correctly will significantly improve customer acquisition rates.
Event-driven marketing typically focuses on making the customer a part of the story. Here again, technology plays a key role.
By making people a part of the event through different tech-based tools, you can improve engagement with customers. The results will in turn reflect on customer acquisition.
3. Smartphone analytics
eCommerce is largely mobile-based.
79% of people owning smartphones have used them for shopping.
Technology plays a key role in making smartphones more compatible with eCommerce and other online services. Today we can buy almost everything from our smartphones alone. Brands that do not jump into the smartphone space are missing out on big gains.
One of the simplest applications of technology in customer acquisition is through making the digital experience better through customers. We can do so by providing customized services that are based on user data. The more accurate the data, the better the service.
We can take the example of email address validation tools to understand this point better.
These tools are capable of deriving intricate information from emails alone. They also help businesses manage a growing email list and have more accurate data on customer behavior. It is one of the many ways in which smartphone analytics help in customer acquisition.
4. Organic search engine marketing
Marketers depend on search engine optimization (SEO) for organic leads.
It is a low-cost customer acquisition strategy that has also proven to work in all circumstances.
As most of us already know, technology plays a key role in SEO and making it more effective.
For example, how websites are marked up plays a huge role in SEO performance. Companies that use modern methods like schema markup are at a definite edge. All businesses should focus on improving SEO to keep their business relevant and gain more customers.
5. Behavior analytics
Behavior analytics is a complex term that includes many components. For the sake of oversimplification, we can say that analyzing how a customer behaves before, during, and after a purchase is behavior analytics.
As you can already guess, nothing does this better than a combination of machine learning and pattern recognition.
Technology also gives a simple platform for companies to get feedback.
With the help of chatbots and other tools, businesses now have a better idea about the customers' pain points. Resolving these issues will have a visible impact on customer acquisition numbers.
6. Enhanced customer experience
Technology works at every stage of customer experience, especially for digital businesses.
One of its finest uses in customer acquisition is the deployment of chatbots.
Chatbots simultaneously improve the customer experience while giving valuable data about their pain points. In the end, it is a win-win situation for both the business and the customer.
Apart from customer support, AR-based try-on and representations also demonstrate the use of technology in customer acquisition. These features are at the cutting edge of technology and the first movers will have a significant advantage in the coming years.
The role of technology in improving customer experience continues to grow.
7. Tracking the buyer's journey
There are several steps between a customer thinking about a product and finally buying it. Understanding this journey gives businesses insight on which strategies and work and which do not.
Tech-based tools and services make it easier for companies to track this journey and devise a strategy accordingly.
With an accurate picture of the buyer's journey, you know exactly where to invest and how much. If the pain points are addressed correctly, it will have a significant impact on the customer acquisition numbers.
Tech-based tools not only make this possible but also make it very accurate.
8. Content as a customer acquisition strategy
The relevance of content marketing cannot be undermined.
What we often overlook is how important a role tech plays in content creation and marketing. While tools won't create content for you yet, they can still make existing content better.
The more interesting part of this problem is how technology can tell you which content will attract more customers.
With the help of analytical tools, you can get a better idea of which content can be offered at no cost to draw in more customers. Many businesses tend to overlook this aspect of content-based customer acquisition.
9. Promotional or freemium products/services
While some businesses think about ways to sell their products, others benefit from making their products freely available. The advantage here is that customer acquisition becomes significantly easier. Everyone would be willing to use a premium product without paying for it.
However, it allows marketers to make customers comfortable with a product and get access to more data. Once that is accomplished, retaining those customers for other products and services is not a big deal. It also helps in referral marketing to a great extent. Many companies offer freemium products and services keeping in mind this aspect of customer acquisition.
10. Influencer marketing
While tech may not play a very obvious role in influencer marketing, the importance of it is apparent once we dig in.
Since many brands connect with already established influencers, it is very important to know what that influencer's viewership looks like demographically. Tech-based tools play a key role here.
Partnering with the wrong influencer can mean a significant budget upset for companies. It is much better to invest in the necessary and find out what works and what doesn't. Doing so will help companies perform much better in influencer marketing and social media platforms.
11. Synthesis of customer retention and customer acquisition
One of the biggest mistakes from businesses is to undermine customer retention for customer acquisition.
Only 15% of marketers feel that customer retention is a bigger challenge than customer acquisition, and there are good reasons behind that. Once you have a happy customer, the chances of retaining them are already high.
Technology not just makes it easier to get new customers, but also works to retain existing customers.
With tech-based tools, you can send out custom order form templates that help a lot with customer retention. These forms are specifically designed to convince existing customers to buy more. It is one of the best examples of how both customer retention and acquisition can benefit from tech-based ways.
12. Integrate relevant products and services
If you look at how Instagram functions, you will see that a very important component of the app is the wide selection of filters, many of which are user-generated. Instagram performs so well since both products are available on the same platform - a social media platform and a photo editing tool.
Similarly, businesses that integrate different tools and services to make the customer experience better are at an edge. Tech-based tools make these integrations possible and are a great way to get new customers.
Tech has a multitude of use cases in customer acquisition.
As you can see, there are so many ways to make your strategy stronger and more effective. The trick lies in picking up what is relevant for your business and discarding what is not.
We hope these tips and ideas will help you acquire more customers.
Developing a customer acquisition strategy is one of the most challenging tasks for any company.