Acquiring new customers is the lifeblood of any business. This is what guarantees growth, increase in revenues, branding, visibility and success.
No matter how great your idea, how brilliant your app, or how innovative your business skills are, without customers they amount to nothing!
When you start a business, you might think that customers will come naturally to you, just because you have such a great product. However, within the first few months, you will realise how big of a challenge this part is.
For an Ecommerce business, customer acquisition is at the heart and soul of its survival. In this article, we will be looking at five major customer acquisition cost ecommerce strategies.
If you are someone who runs an ecommerce business or is looking to start one, you might want to read this article.
Customer Acquisition in Ecommerce Businesses: The Consideration Funnel
If you have read any basic book on marketing or the Ecommerce industry, you would have come across the ‘funnel’. Let us break it down for you.
- Top of the Funnel (TOFU)- This involves building awareness about the Ecommerce business and letting everyone know that you exist. This is also a stage where you build initial interest around your brand and platform.
- Middle of the Funnel (MOFU)- At this stage, the audience has discovered your brand. Now you need to move on to figuring out the intent, convincing the customer and being a part in their evaluation and eventual purchase.
- Bottom of the Funnel (BOFU)- This is the last stage and is all about the customer purchasing a product from your platform. It also includes repeat purchases and customer retention for the Ecommerce brand.
List of 5 Major Customer Acquisition Strategies for Ecommerce Businesses
In this section, we will write down about five major customer acquisition strategies that Ecommerce businesses should invest in-
1. Email Marketing
Email Marketing continues to be one of the strongest ways to build engagement according to the actions of the customer. When a customer signs up, he or she is sent a welcome email. When they make a purchase, they are sent discount offers for repeat purchases. This is also known as creating a Drip Email Marketing Campaign.
2. Influencer Marketing on Social Media
If any Ecommerce business wants to build a successful brand, they need to engage and leverage Influencer Marketing. Ecommerce and social media have a very organic relationship. By positioning your products in the hands of influencers, you can hope to reap rich dividends in the area of awareness, visibility, credibility, and ultimate sales.
3. Pay-Per-Click Campaigns on Search and Social
A quick and easy solution to acquiring customers for your Ecommerce business is investing in PPC campaigns. This means Ecommerce brands can use search engines like Google and social media platforms like Facebook to take customers directly from the platforms to their Ecommerce page. This is particularly helpful when it comes to holiday season campaigns.
4. Content Marketing and SEO
A lot of Ecommerce businesses that want to build a strong digital presence well into the future are not shy away to invest in Content Marketing and SEO. Data and statistics have shown that Ecommerce businesses that can effectively use content marketing have been able to build a loyal and committed base of repeat customers and encourage higher retention rates.
5. Affiliate Marketing with Bloggers
As an Ecommerce business, you need to ensure that you are always finding out new sales verticals for your business. A good strategy in the last few years has been to engage with expert bloggers and affiliate marketers and work on a percentage or commission basis whenever they make sales on your behalf. This is a simple and great way to build work relationships as well.
The Bottom Line
As an Ecommerce business, you need to ensure that the CPA or the Cost Per Acquisition is at its lowest. All the strategies mentioned above if properly planned and implemented can lead to lower CPAs and higher performances.
If you wish to know more about Ecommerce businesses and how to make them grow successfully, let us know in the comments section below. We will be more than happy to advise you on growing your own.