How to add members to loyalty scheme with low Customer Acquisition Cost
To scale effectively, you need to invest in acquisition, to find new customers proactively and consistently, as loyal customers cannot make your business grow.
So, how can you make customer acquisition more cost-efficient while still finding quality leads?
1. Handle Current Customers as New customers
To lower customer acquisition costs, you need to treat the customers you have retained as new customers. Word-of-mouth is an efficient and accessible tool for any business. If people are satisfied with your services, they are willing to give testimonials or success stories that will enhance the effectiveness of your program.
2. A Referral Program is a must
New customers recognize, like, and trust you when other customers refer them to your program or service in general. Incorporate your referral program in your sales, and you will see your marketing strategy work. Leveraging others to communicate the outcomes you create is powerful and hands-down the most cost-effective way to generate new business and keep costs down.
3. Be Accessible
Being responsive to clients drives client acquisition, retention, and referrals. While frames are necessary, responding to emails and texts during regular business hours—and quickly after messages come in—has been vital in letting clients know that my team is available during their moments of a career crisis.
4. Improve Your Social Media Presence
And how will you do that? The most reliable way to decrease the cost of a new lead is by using organic social media. Posting daily, replying to comments, and liking comments goes a long way. Your customers need to become familiar with your brand before they make a purchase.
5. Become More Targeted With communication
More targeted marketing initiatives are one way to lower acquisition costs. Businesses should use actual data to discover the prospects most likely to buy from them. Once you do that, adjust your marketing efforts to target those companies or customers instead of trying to convince every company you would like as a client.
6. Cultivate Existing Customer Relationships
Customer retention and customer experience go hand in hand; you already know that. Keeping your existing customers requires engagement and excitement from businesses. Happy customers are loyal and frank about their experiences. Keep in mind that to lower the cost of new customer acquisition, continue investing in existing customer relationships.
7. Take a closer look at your best-returning customers’ interests
Could you make a list and elaborate further on it? Next time you can make a competitive analysis on these interests while trying to convince a new customer. If the new customer’s score is less than 60% of a returning customer’s, do not attempt the opportunity.
8. Create a transparent Network
It would be best to try to resist marketing gimmicks and focus on serving your clients with complete transparency. If you have the potential for new customers, ‘use’ your existing customers especially those that your services are helping them. Ask them to refer you to others in their network who can also benefit from the resources.
9. Marketing Automation
Through marketing automation, you can lower your customer acquisition costs. You can offer a lead-capture element on your website, with a free offer to get people to opt into your mailing list. After they opt-in, send drip-marketing messages in an automated sequence. Emails should include informative content and special offers. Make sure to add value before striving to sell.
10. Join wadata marketplace!
At wadata you can reinvent the customer experience! By joining our marketplace you can provide more redemption options to your members and at the same time reduce your liabilities on loyalty points. Points conversion and points transfer are some of the main triggers to help your loyalty program become more friendly and acquire eventually new members
Bring your business to wadata, reward wadata coins on every transaction, reduce points liability and offer vouchers for whatever product or service you want! See the increase of your loyalty meembers immediately at the lowest cost.