Acquiring new customers has never been more challenging for marketers. There is increased competition from all sides, far too many media choices, and the complexity of marketing across multiple devices, not to mention the limited attention span of consumers. Still, for most marketers, customer acquisition continues to be a priority.
There are at least three major areas marketers must consider to be successful at acquiring new customers, according to a new report from eMarketer: (1) putting an emphasis on data (2) "audience centricity" and (3) the lifetime value of customers. The third area is of particular importance, because it speaks to the idea of treating a customer as an investment. An old adage in direct marketing is "acquire at a loss, renew at a profit." This means that it is often worth it to spend more to acquire a new customer, even if you lose money on the first sale, because the renewal value of the customer's business over subsequent years will more than make up for the initial loss. Mail order marketers, subscription publications, and even non-profit organizations have proven time and time again that acquiring at a loss and renewing at a profit pays off when the lifetime value of the customer is taken into consideration.
One study referenced by eMarketer indicates that the two top strategic priorities of U.S. marketers are (1) brand awareness and (2) customer loyalty. These priorities relate directly to the customer acquisition challenge: Brand awareness is essential to make new customers aware of a company, and customer loyalty is essential to retain a new customer's business over time.
Marketers looking for a proven way to generate and qualify leads for customer acquisition should consider purchasing the eGuide Sales Leads 123.
This eGuide includes information about differences between Business to Consumer and Business to Business lead generation; audience profiling, segmenting and targeting; developing offers and creative approaches; lead generation media; systems required; outbound vs. inbound lead generation; lead qualification examples; ranking offers by qualification potential; the qualification funnel and how it is changing; the relationship between Marketing and Sales; and basics of sales conversion. Specific tactics and techniques and a wealth of additional resources are included. Sales Leads 123 is a “quick start” guide to effective sales lead generation, qualification, and conversion.