Customer acquisition is the process you go through to gain new customers. It’s how you persuade people to purchase your products or services.
Are you doing enough to increase your customer acquisition rates? In this article, we provide your definitive guide to customer acquisition.
You’ll learn some advanced strategies for acquiring, and keeping, new customers. Continue reading “Your Definitive Guide To Customer Acquisition”
Do you know the value of loyal customers? Have you ever created a strategy built around keeping those customers while maintaining and building your relationship with them? Have you explored a customer retention strategy?
If not, we encourage you to do so. Retaining your current customer base is often referred to as the low-hanging fruit. What do we mean by this?
The fruit that hangs low is easily reachable, and it requires minimal effort to pick it. The same can be said for your current customers. They can be won or persuaded to stick around with little effort. Now, that doesn’t mean no effort.
Because you have to invest a little to get a lot, and we want to help you with your strategy, we’re going to look at customer retention stats, a study and best practices for 2016.
Customer Retention Stats
To drive home the importance of customer retention, here’s a list of stats:
- It costs 500% more to acquire a new customer than it does to keep a current one. ~Destination CRM
- It costs 16x more to bring a new customer up to the same level as a current one. ~Marketing Tech Blog
- It’s cheaper to retain a customer than to get a new one. ~Econsultancy
- The average repeat customer spends 67% more in months 31-36 of their relationship with a business than they do in months 0-6. ~Bain and Company
- 47% of customers would take their business to a competitor within a day of experiencing poor customer service. ~24/7
- 97% of consumers said they are somewhat likely to become more loyal to a company that implements their feedback. ~Apptentive
- 81% of consumers are more likely to continue doing business with brands that offer loyalty programs. ~Bond Brand Loyalty
Continue reading “Customer Retention Stats, Studies & Best Practices For 2016”
For those of you who run an online eCommerce site, we bet you’d like to give your sales a lift.
In this article, we’re going to show you some ways to do just that. We are looking at eCommerce conversion rates, stats and best practices for 2016.
First, let’s look at the average eCommerce conversion rates (the percentage of people who take the desired action on your website).
According to one source, the average conversion rates are as follows:
- First time visitors: 5.10%
- Repeat visitors: 2.50%
- Cart abandonment rate: 71.30%
Another source finds that product page conversion rates average about 8%. What does this tell us? It suggests that shoppers are entering websites more often through product pages instead of the home page.
This same study says that the top converting product pages are doing so at a 59% rate, while the bottom brands hover around .10%.
And, yet one more source sites average eCommerce site conversion rates between 2-3%.
While these rates vary a lot, we can point you in the right direction with the following info on conversion rates:
- 0-1%: Not good. Something might be broken on your site, and you need help.
- 1-2%: Below average. Check your incoming traffic and assess weak points on your pages.
- 2-3%: Average. It’s still a good idea to assess problems on your site.
- 3-5%: Very good. You’re getting somewhere now. Keep working at honing your conversion rate and see if you can leap any higher.
- 5% and above: You are the cream of the crop. Keep up the good work.
Continue reading “eCommerce Conversion Rates, Stats and Best Practices For 2016”
You probably already know that it costs more to acquire a new customer than it does to keep a current one. That’s why this article is so important.
When you are working to gain new customers, you want to make sure you are maximizing your dollars and doing everything right.
So, to help you be as efficient as possible when trying to attract new customers, we’re going to discuss seven tools to include in your customer acquisition plan.
#1: Set Your Goals
Author and motivational speaker Zig Ziglar said, “A goal properly set is halfway reached.”
Your customer acquisition plan is futile if you haven’t set your goals. It’s like walking in the dark while trying to read.
Your first tool is goal-setting. It will not only shape your customer acquisition plan, but it will also shape the people you hire and the lead generation tactics you set into motion.
Here are some possible goals you might set when it comes to customer acquisition: Continue reading “7 Tools To Include In Your Customer Acquisition Plan”
The most important pages on your website are your landing pages. Why? This is where you earn the trust of your website visitors, provide them something of value, and in the end, convert these folks into viable leads.
Yet, many businesses aren’t leveraging the potential of their landing pages. In this article, we’re going to talk about how to use landing pages to increase email subscribers.
If you haven’t been using your landing pages to drive your email list, you might wonder about their purpose. And, perhaps you haven’t even looked at your conversion rate. So, first, let’s uncover some information about landing page conversion rates.
Conversion Rates Uncovered
With the average landing page conversion rate hovering around 2.35%, many pages often hit conversion rates well above this, and some push well into the double digits. How do they accomplish this?
We’ve got a list of some quick tips for increasing your landing page conversion rates from good to great.
- Explain the value of your offer. Don’t make people guess.
- Reduce your website visitor’s risk. Offer a testimonial or other social proof. This helps your visitor feel more comfortable handing over their email address.
- Use scarcity. You can do this by limiting the quantity of your offer or reducing the time frame that it’ll be available. Your website visitors are more apt to sign up for your offer if it’s only available for a limited time frame, or you’re only offering a limited amount.
- Ditch landing page distractions. Create your landing page so it is simple and straightforward. You should also think about reducing navigation options so people don’t get distracted and wander off.
Continue reading “How To Use Landing Pages To Increase Email Subscribers”