Customer acquisition: How to define your digital metrics?

The customer acquisition is vital if you want to take place in an increasingly changing, with a competition that is growing and customers are more capable than ever market decision. It is not an easy task, therefore it is necessary to define a strategy.

Customer acquisition strategy based on relevant digital metrics. What are they?

Companies have a pressing need to get to know their customers, establish a closer relationship and offer products that are tailored to their needs. Also, many of the customer relationships are measurable today. But what are the metrics that must be taken into account to know the market and be successful in attracting customers ?

The marketing funnel or marketing funnel is an instrument that helps to identify these metrics , ensure that they do not overlap and make fair efforts to know our clients in each of their maturation phases. In the digital environment, it is essential in the customer acquisition process and consists of five stages based on the customer journey :

Knowledge

It is the starting point, it answers the question “how many know me?” or “how many know of my existence?” In marketing, one way to measure it is with the impacts or touchpoints, these occur every time the image of the company is perceived by a potential customer.

To measure awareness, a KPI ( key performance indicator or key indicator parameters) can be established for each place where the company’s image is identifiable (social networks, web pages, online advertisements). The greater the awareness, the more likely it will be to attract customers .

If you are present in 3 social networks, each one has its own KPI, the number of unique people who visit our profile in a period of time, for example. These KPIs can be mere estimates of reality. However, they are very useful to know the ceiling of the market when comparing ourselves with the best. In addition, this helps to recognize the strength of our various communication channels.

Consideration

In this stage of customer acquisition, we narrow the group from “potential customers” to “future customers.” The techniques to define KPIs are now more complex, one of them is Marketing Qualified Lead (MQL).

This technique classifies those users who have shown an interest above normal in buying your products or services, for example they have added products to the shopping cart, they have entered the web page repeatedly, they have remained for a long time in your web or have entered your information (your data) in a disinterested way.

Identifying these customer use cases for your company is essential in defining the KPI. We can say that the sale really starts here, when someone has left you information and you can start a conversation, either to offer them more products or get their opinion through a survey. Obtaining subscribers is essential from the point of view of qualifying your communication strategy.

Conversion

After attracting customers, it is time to buy. It is defined by the number of sales from all our sales channels. A modification of this KPI can be an increase (either annual, quarterly …). At this time, it is also possible to qualify the satisfaction of your clients through a valuation survey called Net Promoter Score .

Loyalty

In modern funnel marketing, the customer journey is understood as a cyclical experience in which the buyer is one of the first marketing weapons of the company itself . Thus, measuring the percentage of customers who “buy back” is key to understanding how well we are doing. In addition, we can see what products they buy repeatedly or how often they do it, that is, we can identify repetitive behaviors of our customers that we can try to expand.

It is key to take care of your customers and achieve their loyalty as they are the most profitable. As the Pareto Law says, 20% of your customers contribute 80% of your income, that is, your most loyal customers.

Recommendation

Following the line of modern marketing. Don’t forget to measure the recommendation power of your customers. Again, social networks can be good indicators: followers / customers who “share” or “like” our products. Also from comments, automatic feedbacks or online surveys, fundamental value can be extracted to know our most loyal customers.

How do we do it?

Customer acquisition techniques:

The funnel marketing approach requires establishing general online sales objectives and also specific ones for each of the stages. It is necessary to establish a plan that will be developed simultaneously in the five phases. Specific strategies and tactics will be defined in each case and for each of the phases . It is important to note that often these tactics and strategies must be focused on omnichannel and coordinate online and offline actions to obtain much more information. A barcode, a QR code or an offline survey are good channels to attract customers or get subscribers to our page.

Promotions: 

This valuable and essential marketing tool is a very important claim to get customers. Its main objectives are to inform, convince and remind the customer of the existence of a product or a service through very tempting offers.

Generation of urgency:

With this persuasive tactic we are combining strategy and psychology to generate a feeling of urgency in the potential client. With ads like “there are only 2 hours left for this offer” or “there are 4 more people looking at this ad”, we are encouraging you to buy.

Take care of the opinions of your existing customers:

Word of mouth is one of the most effective marketing techniques as most consumers trust the recommendations of their family and friends much more than they do in advertising campaigns. For this reason, it is very important to provide your most loyal customers with the option to comment and comment on your products or services. Make sure to make these opinions, recommendations and reviews visible.

Use some tactics or others, the most important thing is to  add value to your clients , interest, trust and a pleasant and fluent communication.

Measurement and analysis

The KPIs and their analysis serve as a guide to know how the approach to our objectives evolves, specifically the acquisition of digital customers . This information should allow us to make changes in the action plan that mitigate deviations and obtain knowledge about the behavior of our market, customers and their segments especially .