5 effective strategies for customer acquisition
DIVERSIFY CHANNELS
by Amy Kapolnek
Beauty and wellness brands, especially those that are emerging or substantially growing, are constantly faced with customer lead and acquisition challenges. Soaring costs of paid media on TikTok and Meta as well as escalating fees for influencer partnerships further intensify the struggle to grow and sustain the business. In my roles as a Strategic Advisor & Fractional CMO, I am constantly crafting low cost, high impact customer acquisition strategies to help clients overcome these hurdles and acquire new customers. In part one of 5 Effective Strategies for Customer Acquisition, I discussed how to acquire new customers by knowing your customer and offered a FREE guide with 15 Questions To Create A Strong Customer Profile. In part two, I discuss how to use AI in marketing and offer suggestions for the best AI marketing tools. In part three, I dive into the importance of marketing channel diversification and how to diversify your marketing channels to boost new customer leads and acquisitions.
Diversify Channels and Opportunities
This really requires you to think outside the box on how you market to and reach your target audience. In today’s world, you HAVE to meet your customers where they are. Take that 36-year old mom of 2 we discussed in part one - she is so busy that she might only be on social media a handful of times per week and at random times. Which begs the question: is launching paid social ads and leaning into social media as your primary communication the best channel to reach her? Maybe not.
Everyone is on several digital and physical channels every single day, and it’s your job to figure out not only which ones they are on the most but also which ones they will absorb your marketing the best. You then meet them there. That could be social media or it could be email. It could be at the coffee shop or on a billboard she passes on her way to pick up the kids from school. It could be the place you would least expect but use or see the most. And it could be a place that is so boring, so mundane, so stressful that any type of entertainment is a welcome reprieve.
Take Netflix for example: when they launched their newest series Wednesday in November 2022, they partnered with airports’ TSA checkpoints to advertise the show at the bottom of every security container. Since it was the holiday season, they knew it was one of the busiest times of year for travel. Millions upon millions of people saw the ad. And guess what? It stands as one of the most watched series in Netflix history.
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Here are a few examples of how to diversify your marketing channels and opportunities:
- Teach a class on your specialty (this not only brings your brand more visibility but also helps confirm you as an industry expert and thought leader)
- Create a longterm partnership with a complementary company outside of your industry. Below are some of the most successful brand partnerships:
- Netflix and Ben & Jerry's
- Balenciaga and Crocs
- Doritos and Taco Bell
- Kanye and Adidas
- NYX and Barbie
- Lancome and “Emily In Paris”
- Run ads in low cost, high trafficked areas such as on an up-and-coming podcast, local billboards, grocery carts, airport baggage claim, bathroom stalls, parking meters, sidewalks and local coffee shop
- Become a contributing expert or writer to an industry publication
- Advocate to be featured in a docuseries (this is all about connecting with the right people and utilizing LinkedIn to do that)
- License your patent or trademark
- Sponsor an event or local sport's team
Before saying yes to any marketing channel diversification opportunity, be sure to thoroughly research your audience (and your collaborator’s audience, if applicable) to confirm it's a fit (and for the both of you). As always, set your key performance index (KPIs) and analyze the metrics - before and after - to ensure that the channel and/or opportunity was worth it.
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Consumers are more sophisticated and demanding than ever. They have high expectations, constantly changing preferences and wavering brand loyalty. With acquisition cost at record highs, no better time to invest in understanding the customer.
LEAN INTO AI
As the business world continues to explore how to use AI in marketing, brands can attract new customers by harnessing AI marketing tools in the following two simple ways: quizzes and content.
RETHINK INFLUENCERS
There is so much chatter about the creator economy, yet not a lot about who that encompasses outside pricey influencers and celebrities. There are whole categories of people who have influence over your customers’ buying power.
embrace marketplaces
It’s harder than ever for brands to launch and secure new direct-to-consumer (DTC) customers, which is why it’s imperative to develop an effective omnichannel retail strategy incorporating different types of marketplaces.
the fwrd group
a strategic consulting firm specializing in development, growth and expansion strategies for early stage, forward-thinking companies in consumer goods and services.
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