5 effective strategies for customer acquisition
RETHINK INFLUENCERS
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. In part four, I explore why partnerships are important, which type of partnership is best, and the benefits of marketing partnerships.
Rethink Influencers
While partnerships can be on either end of the budget spectrum, generally speaking, they have become a fairly low cost, highly effective method of acquiring new customers. However, it’s not as simple as partnering with an influencer on Instagram or TikTok - you have to rethink how you collaborate, with whom and on what channels.
There is so much chatter about the creator economy right now, 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: their best friends, real estate agent, dermatologist, favorite sales associate, podcaster…etc.
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For example, one of the best ways to acquire new customers through an influencer marketing strategy is to lean into your current customers, specifically those that are Team [Your Brand Here]. More than likely, those VIP customers are also the “it” friend in their circle - the one that everyone goes to for recommendations on everything. Give them something to talk about by asking them to become a Brand Ambassador. These types of influencer marketing programs are nothing new, but the way that I approach them is: instead of solely offering them a discount on product and unique sharing code, why not pull one from the network marketing book and offer to host an exclusive, all-expenses-paid-for brand activation event only for them and their friends? This can be as simple as lunch at a nice restaurant or morning yoga, or as elaborate as a day trip or weekend getaway. After you turn their friends into loyal customers, ask them to become brand ambassadors as well. And the cycle continues. Not only is this pennies in comparison to a traditional influencer marketing partnership or paid social media ad, but it also requires way less time and resources to execute (warning: you may need a heavy dose of patience though). The best part? Unlike influencer marketing partnerships that are a “flash in the pan,” brand ambassadors can be with you for life.
Bottom line: expanding your marketing partnership strategy to include different types of creators, influencers and even brands that are within or adjacent to your space and on different platforms and channels will help increase brand awareness, customer touch points, and ultimately, lead to conversion. The one caveat to this being successful is that you partner with the right people and the right brands at the right time.
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KNOW YOUR CUSTOMERS
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.
diversify channels
Every person is on several digital and physical channels every single day. It’s our job to figure out which ones they prefer and meet them there. Oftentimes, this means having to diversify your marketing channels to reach them.
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
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