WHAT IS DIGITAL CUSTOMER ACQUISITION?
CUSTOMER ACQUISITION COSTS (CAC)
Budgeting is essential to a good strategy and your potential TAM (Total Addressable Market), and your pricing structure will help determine how much you can spend to acquire a new customer. Customer Acquisition Cost (referred to as CAC for short) is the price you pay to acquire a new customer. This is usually just the marketing costs and doesn’t tend to include overheads and salaries (unless consultants or specialists are used). It is pointless to spend £400 acquiring a new customer when they are paying £25 per month and then churn after one year.
16 Steps for Customer Acquisition Process
customer acquisition process is not an easy job, but you can follow the below steps and build up an effective acquisition plan to attract your prospective customers.
- Define Your Business Strategy
- Pre-estimate Customer Acquisition Cost
- Create Your Target Market
- Decide on Right Acquisition Channel
- Hire Trained and Talented Staff
- Build Optimizable Web Pages
- Use Content Marketing to Acquire Customers
- Manage Social Media Marketing
- Practice Search Engine Optimization
- Attain Customers with Email Marketing
- Create Your Product Demand
- Acquire New Customers with Popups
- Build a Sustainable Relationship With Customers
- Ask for Customer Stories
- Run a Referral Program
- Show Testimonials