<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=290086984736480&amp;ev=PageView&amp;noscript=1">
Search
word-map-thumb

The Alternative Board Blog

5 Customer Acquisition Strategies that Spur Growth

Jul. 9, 2019 | Posted by The Alternative Board
Acquisition

Maintaining a strong base of existing clients is essential for every business, but acquiring new customers is equally important. Without an influx of new and prospective customers, a business may come to rely too heavily on its current client base, which is always subject to change in our ever-shifting marketplace. Therefore, CEOs and business leaders should strongly endorse innovative customer-acquisition strategies wherever possible, and throughout the organization.

Here are five strategies to keep in mind:

1. Share your expertise.

Whatever your field, you are an expert in the products you sell or the services you provide. What better way to demonstrate that expertise than by offering a time-limited consultation free of charge? As FiveStars suggests, give customers “access to an expert for a day.” Invite individuals from among your social media followers to enjoy this perk and “consider giving attendees a special deal, like 25 percent off their first purchase.”

Of course, this must be tailored to your specific offering (and could be adapted for online purposes), but you can potentially reach many prospective customers and prove why your business is worth their time and money.

2. Leverage the power of video.

Have you tried using video to market your products or services? Think about all the times you click on a short video (be it a how-to video, a tradeshow presentation or, yes, a compilation of dancing cats). Your customers all do the same. This could be the right time to post a how-to video of your own, or a video that shares valuable business content.

The key is targeting users who follow you on social media so they “end up exploring your entire website out of interest,” as The Startup notes. “The more you strive to connect all your online platforms, the better off you will be.”

3. Reach out to former customers.

You may write off lost customers, but they’re still out there and of potential “re-acquisition” value. Your challenge is to “reach out and re-establish a connection,” preferably through personalized messaging (phone call, email, even a handwritten letter). This might be all that’s needed to get former customers to respond to your new inquiry.

Want additional insight? Download Productivity Hacks for Business Owners 

DOWNLOAD

4. Build relationships through renewed networking efforts.

When was the last time you or someone high up in your organization attended a tradeshow or industry event? These venues are great places to “forge new partnerships, attract prospective customers and just generally get more people aware of your brand.” Contact trade association publications and offer to write a short article about industry trends—yet another strategy for sharing your expertise, building brand awareness and drawing new customers into the fold.

5. Ask for testimonials and endorsements.

Online reviews have become a key motivating factor for many prospective customers. Long before they ask for more information from your company, they will check out reviews of former and existing customers of your products or services. You can adopt a passive approach and just let the online reviews sort themselves out. Or you can reach out to your most loyal and enthusiastic customers and ask them to provide a written testimonial, video endorsement or some other personalized recommendation.

In many cases, they will be thrilled to share their perspective—perhaps even more so, with the right incentive. Consider giving them a discount on their next purchase in exchange for the testimonial, or put them on a “VIP list” where they are notified of new product launches or product upgrades that interest them. Social proof—"in the form of reviews, ratings, social media mentions, and buzz”—attract attention to your offerings and spur customer interest.

Want to learn more about how social media can aid in your customer-acquisition efforts? Register for the free TAB Boss webinar, “Social Media for Business Owners,” and learn new ways to generate sales.

Read our 19 Reasons You Need a Business Owner Advisory Board

DOWNLOAD

Written by The Alternative Board

Related posts

Tips for Business Owners and Employees Working from Home
Mar. 18, 2020 | Posted by The Alternative Board
The Coronavirus COVID-19 outbreak has changed virtually everything about the way business is conducted right now. For the vast majority of businesses across the U.S., this means shuttering workplaces...
Why You Need a Customer Onboarding Process as a Business Owner
Mar. 10, 2020 | Posted by Phil Spensieri
Typically, I meet business owners who do not have a customer onboarding process unless they are in the software or hardware space. In IT, deploying and installing software or hardware goes...
How to Hold Your Team Accountable through Goal Setting
Mar. 3, 2020 | Posted by The Alternative Board
Forming and leading teams of employees can significantly boost productivity in the workplace. The key to making this work is accountability. Every member of the team must be held accountable for...
The Best Business Practices: What You Need To Know
Feb. 27, 2020 | Posted by The Alternative Board
As business scales, circumstances change, and every company must adapt to new situations. Some businesses decide to experiment with different solutions to find out which suits their needs best. While...
What an Operating Plan Is and Why You Absolutely Need One
Feb. 27, 2020 | Posted by The Alternative Board
Most companies spend valuable time and resources to create strategic plans, giving their best to outline a strategy that establishes a solid long-term vision. While having a strategic plan is...
Boost Retention by Building a Great Workplace Community
Jan. 30, 2020 | Posted by The Alternative Board
The term “company culture” gets tossed around a lot lately, and it’s true that a strong corporate culture can make a big difference in boosting employee recruitment and retention. But, increasingly,...
Successful Business Tips Every Business Owner Should Know
Oct. 29, 2019 | Posted by The Alternative Board
Running a successful business comes down to the quality and effectiveness of the decisions that you make. Whether you’re just starting out and coming up with a plan, or already have an established...
3 Steps To Delegating Tasks and Lessening Your Workload
Sep. 10, 2019 | Posted by Phil Spensieri
You know how it is when you’re a business owner; so many things to do, so little time. As an owner, your focus is to build your business, but in building your business, there are so many things to be...
How to Build an Awesome Culture of Collaboration in Your Business
Aug. 20, 2019 | Posted by The Alternative Board
“Collaboration” is one of those buzz-words we hear a lot about these days. Of course, a company’s internal operations (and, for that matter, its customer-facing processes) should be driven by...
What's the Difference Between Business Development and Sales?
Jul. 18, 2019 | Posted by The Alternative Board
At first glance, there doesn’t appear to be much distinction between business development and sales. Aren’t both activities geared towards generating more profit for the organization? Isn’t a sales...