Blogger: James Clifton
Acquisition marketing is marketing to those who are not existing customers with the purpose of acquiring them as a new customer. An article both agrees and disagrees with this statement. Joanna Lord says “If you had asked me this question a few years ago I might have corrected you and called it ‘customer acquisition’ because that’s where the roots lie.” This is because it was all about acquiring customers and increasing their customer counts. Lord goes on to say that now a days it would no longer be considered “customer acquisition” but rather “acquisition marketing.” This is because it is more than just gaining customers it’s more about acquiring “traffic, engagement, leads, customers, attention, partners, and possibly even companies”(Lord).
What is Growth?
“Acquisition marketing, at its core, is simply driving growth. To be successful you must align your efforts with the growth goals of your company” (Lord). Lord then goes on to mention some points that present challenges.
- People like boundaries. People fear change and if you challenge their boundaries they don’t usually like it.
- Having too many goals can lead to very few gains.
- It’s hard to remain a specialist if you become a generalist.
-This can be interpreted in an example of a small accounting company. If there is a small accounting company that does an acquisition marketing campaign and acquires some clients to manage accounts for but also some clients that you decide you can do financial advising for and with consulting for. This can diminish your specialty of accounting and make you more of a general firm.
These are very relevant points to acquisition marketing. As a company you want to acquire a lot of different thing but you can’t have them all. If you try to gain too much you will spread yourself to thin and might not be able to keep up. For example if you are a small company and you keep acquiring new customers, if you acquire too quickly, your ability to do each project the best that you can might suffer.
Internet Acquisition Marketing
One of the best ways of doing acquisition marketing according to Regali(x) Solutions is through internet marketing. “The obvious goal of an internet marketing campaign is lead generation converting to customer acquisition and retention” (Regalix solutions). This basically means that you have to turn leads into customers. Some of the ways to improve your customer acquisition online is to know the demographics of the visitor. You have to be able to recognize who your prospective leads are and then finish the sale to those leads. “Calculating the number of leads that need to get directed to the website or landing page to make a sale come through would effectively allow you to direct the volume of web traffic methodically through proper use of various internet marketing tools. Furthermore, if too many leads are backing out then it is time to pitch the marketing strategy in a different manner, either by making the deal more attractive or by reworking on the technical issues, if any”( Regalix solutions). The last point is a crucial step that can help you determine the effectiveness of your website. Using the skills we learned in class a company might have to reevaluate their site if their lead numbers and sales generated from it are too far apart.