How to Acquire New Customers

The challenge that many companies face is acquiring new customers.  You can “shotgun” your marketing by mailing tons of direct mail to a large, untargeted database, but I recommend having a different tactic.

Profile Your Customers

Who are your customers?  Who is buying from you?  Have you looked at the types of companies that purchase your products?

Do some analysis as to the types of companies or consumers who are your best customers.  I recommend that you look at demographics, SIC codes, company size and other attributes. If you understand the profile of our existing customers, you can match their profile and find other prospects that look just like them.

Building Your Acquisition Database

There are several database management services that you can hire to pull company names, addresses, contact names and phone numbers. Some databases may have accurate mailing addresses, but contact information may be dated.  Utilizing LinkedIn is a good resource for verifying up-to-date contacts.  Find the supplier that can provide you with the best list to reach your target prospects and hire them.

Some database companies also offer email addresses, however it has been my experience that email databases for rent are unreliable.  A better way of capturing prospect and customer emails is to offer downloads on your website like white papers that web visitors can get by just entering their email address.  You will need to make sure that you offer an opt-out process from marketing emails due to CAN-SPAM compliance rules.

Create a Customer Acquisition Campaign

Some companies really like to use direct mail like postcards, letters and fliers to acquire new customers.  Others like to use email, banner advertising on other websites and social media, and Google adwords.  I am a strong believer in synchronized marketing campaigns utilizing multiple acquisition techniques. Certain programs may work better than others.  A/B testing is another great way of finding out what works and what doesn’t.  Keep doing what works and stop doing what doesn’t.

Finding New Customers Outside of Your Existing Customers’ Profiles

In addition to matching existing customer profiles with prospects and attempting to acquire them, there might be a group of prospects that you never thought would be your customers. Market research through surveys is a great way to find out what types of companies or end consumers buy your products or who want your products.  For those who have purchased yhour products, ask them to explain how they use your products, possibly even provide prizes for the best ideas. This information might help you target new customers.

You can also do some testing pulling contact information from other SIC codes and mail or email them as well.  Track the response and conversion rates for each test.  If you discover that a new customer segment is interested in your products or services, expand your reach within that segment through brand and product marketing using direct mail, email, social media and the web.

Conclusion

Profiling your customers to find new prospects, building the prospect database for both direct mail and email, launching the campaign to include the new profiled targets and testing new market segments are all very important steps in acquiring new customers.

If you want to learn more about me, please visit my LinkedIn profile, my website and my blog.

Photo credit: flazingo_photos via Foter.com / CC BY-SA

Marketing Research – The Voice of the Customer

Doing marketing without research is like flying a plane without a flight plan.  Marketing research is a critical part of building a successful marketing plan.  You need to know what the customers want so that you can build your plan to meet their needs.  Here are a few suggestions of ways to gather this critical information.

Surveys  – Email customers with short yet pointed surveys.  Customers don’t like long surveys with tons of questions.  Make sure your surveys are short and to the point.  There are several online survey tools like Survey Monkey, Survey Gizmo, Survey Planet and Smart Survey that you can use.

Focus Groups – Gather together your best customers for a free lunch and conversation of what they like and don’t like about your company.  It is best to have skilled focus group moderators as they have a unique way of gathering necessary information.  I worked with a focus group moderator who had an amazing ability to make participants feel that their suggestions and ideas were the most brilliant they have ever heard, although they have heard those suggestions a dozen times before.

Social Media – Social Media is a great way to get the pulse of what’s going on in your market.  Customers talk to other customers all the time on social media.  You need to join in the conversation.  You’ll learn a lot about your customer’s perception of your company from the conversations that they have on social media.

Google Alerts – Set up Google alerts so you are notified whenever your company is mentioned online.  You’ll be amazed at what your customers and competitors are saying about you.

Visit Your Customers – Pick some customers to visit.  Go see their facilities and learn more about what they do and what they need.  Personal visits can make a huge impact.  When customers see that you really care about their business and building relationships with customers is key to long term success.

Solicit Feedback – Ask your customers on your website and via email to provide you with feedback regarding your products and service.  Assign staff to follow up with every customer who responds.  I learned early in my career that when customers have an issue with your company that you can increase customer satisfaction more if you handle issues quickly versus never having an issue to being with.  Customers like to have issues resolved quickly.  Go above and beyond and your customers will respond positively.

Talk to your customers and find out what their needs are.  Develop products that meet their needs and exceed their expectations.  If you don’t ask customers what they need, you can’t help them.  Guessing and assuming what the customers’ needs are is fruitless.  Ask them and give them what they need.

If you want to learn more about me, please visit my LinkedIn profile, my website and my blog.

Photo credit:  stavos / Foter / CC BY-NC-ND