There are chances that you might have built an ideal persona of your Shopify store and customers. Did you know how various strategies work for
Customer Acquisition in the e-commerce world?
Customer Acquisition is all about getting potential consumers for your business and generating better sales. This will seem like a piece of cake, but it is the most difficult initiative. Brands have sacrificed their resources to understand and implement multiple methods for customer acquisition.
And the quote from The Hustler,
“A 25% slice of something is better than a 100% slice of nothing.“
This means instead of investing your time, money, and efforts in multiple strategies, Just Find The One!Let us explore the unique term Customer acquisitions and build the perfect one for your Shopify store!
What is Customer Acquisition?
A customer, Client, or Consumer is the one that runs your business. The lower you invest in
customer acquisition strategy, the higher will be your profit. Organizations need to look into these metrics to improve their investments and returns.
The three phases of a customer journey on your Shopify store are:
- Discover: The moment customers look for something, they evaluate multiple methods to know the easiest one. They might reach your website and leave if they could not find it satisfactory.
- Consideration: If the customers take any actions like research, sign up, or browse through your website, they are interested. They will evaluate your store and compare to know if they match their requirements.
- Conversions: This happens only if your website provides the customers with the exact thing they were looking for. They will make a purchase, sign up, or take actions that help you meet the goal.
How is Customer Acquisition Processed?
As a Shopify store owner, you must have pre-define the strategies for
customer acquisition. This helps to streamline the process and monitor your performance for better optimization. The common flow of this process are:
Know your Target Audience!
Knowing your potential audience to build a
customer acquisition strategy is vital. If you target multiple industries, you must have a unique strategy for every group. A successful technique is to add personalized elements that understand your customers’ interests and behavior. Some tips for handling this sector are:
- Create a customer persona on your Shopify store
- Conduct deep market research to identify focus groups
- Analyze customer profiles, interest, and behavior
- Understand the trends from digital conversations
Build a Strategy
Once you get to know your target audience, you need to work on data findings and best practices to increase your ecommerce sales on the Shopify store. To optimize the
customer acquisition strategy, you need to have some of the below things:
- It is vital to have a strategy that keeps you connected through email, search, mobile, and social media platforms.
- You must build a message matrix that considers your brand’s digital voice and conveys it to the target audience.
- A plan to measure your KPIs (Key Performance Indicators) like impressions, Click-Through Rate, Cost Per Acquisition, Return On Ad Spend, and more.
Ready for Launch!
After you know your targets and channels, it is time to step in. It is significant to monitor all the KPIs and collect relevant information about your business during this phase. This will help determine your strong and weak links in the digital world. You might want to have a Pre-Launch Checklist for your Shopify store to ensure you have everything covered. We hope this content piece made your journey a bit hassle-free and effortless.
Measure, Optimize, and Proceed!
The entire reason for search engines to introduce KPIs is to give you a clear picture of
customer acquisition. The main aim is to eliminate the strategies that are not working or wasting your resources. An optimized Shopify store will help in boosting your traffic and conversions.
Coming to the important sector, we would like to use the quote from Money Heist,
“I’m offering you resurrection, A second life.” – Professor
How to Develop Customer Acquisition Strategies?
1. Build your Customer Persona
Effective
customer acquisition strategies need the right marketing strategies:
- Social Media Channels: They prove to be the best resource to engage customers and drive more traffic to your store.
- Offline Presence: We know online presence is inevitable, and the perfect apps for the Shopify store ensure to grow your business on a large scale. But you might invest in billboards, magazines, and advertisements to have a better ROI.
- Referral Programs: The best method is Word of Mouth. If you introduce incentives to share your brand with other people, it will spread the word and help you gain more audience.
2. Know the Customer Lifetime Value
This is directly relevant to the sustainability and profit of your business. So, you must know the customer lifetime value while implementing
customer acquisition techniques. The tips for calculating the CLA are:
- If this is an early stage of the business, then be realistic in deciding your conversions and estimates.
- Calculate the ratio of CLV (Customer Lifetime Value) to CAC (Customer Acquisition Cost) to know if you are spending enough on marketing your business.
3. Hold on to Marketing Channels
You might connect with Shopify Development Companyto handle effective marketing, as it is crucial for
customer acquisition. It will help if you have effective and efficient marketing strategies that work for your business. Let us look at some true approaches you must consider:
- Content Marketing: This is the best method to help users find you faster and build a strong online presence. Search Engine Optimization helps the content gain better rankings and target potential customers.
- Social Media Marketing: A presence on these platforms is cost-effective to build your brand awareness and engage directly with the customers. It is known to be a post-sales tool to improve customer retention and drive your revenue.
- Email Marketing: If you know how to target the right audience through emails. You just need the right tool and figure out the audience interested in receiving your emails.
- Offline Marketing: Businesses have succeeded with print ads, radio commercials, mails, billboards, and podcasts. These methods help to draw attention towards your brand through unique methods.
- Effective Marketing Campaigns: At this stage, you must know what is working and what is not for your business. Invest in some tools and know the effective strategies for your business and are generating better returns.
- Promotions: Share your content through multiple platforms. User-generated content is the best method to build trust and provides a great network in the digital world.
What are the customer acquisition strategies that you should try?
Investments do not always lead to returns. Some commonly used strategies that might bring better returns for your Shopify Store are:
1. Search Engine Optimization
When people look for products or services, they begin their journey from search engines. Building content might help you make a presence in the digital world, but you might lose in the crowd if it is not SEO-friendly. Did you know there were more than 4 billion searches per day on Google itself? If you optimize your website according to search engine platforms, it helps achieve goals and capture a wide percentage of attention. A good piece of content will be evergreen and continuously help gain visitors to your platform.
2. Improve Usability of Websites and Applications
When you visit a physical store, you are greeted, and people assist you with the services you are looking for. Similarly, your store must greet and assist the customers. This is achieved by having effective usability and navigation in your store. You can begin by adding Shopify chatbots that provide solutions and resolve visitors’ queries. They might be able to engage your audience for a longer interval. Promote your brand on search engines and other platforms to increase brand awareness.
3. Sent Personalized Messages
Push messages are becoming a popular method to engage with your customers and audience. The things we have noted are:
- Cart-Recovery Message: Your business can create cart-recovery campaigns for users who abandon your cart at any stage.
- Incentives Message: It is crucial to create push campaigns that incentivize customers to make a successful purchase on your store. This could be a deal or discount.
- User-Activity Related: You can use Artificial Intelligence and Machine Learning to help you create personalized messages to promote your business. Use various tools to gather user behaviors.
- Transactional Messages: Never leave your customers hanging. If they have some items on the wishlist, notify them in case of any deals or products going out of stock.
4. Select the Customer Acquisition Channels
Running a Shopify store isn’t easy. You need to identify ideal customers to meet your goals. You need to invest time to research the type of content published and how people are interacting with it on all the channels. The list of popular customer
acquisition channels are:
- Facebook: Direct messages, advertisements, and live video streaming
- SEO: Content that is optimized as per search engine requirements
- Referrals: Providing loyalty rewards, discounts, and other deals
- Instagram: Engaging photos, short videos, and advertising
- YouTube: Informative, entertaining, and long video content
- Paid: Short, compelling, and snappy visuals to gain returns instantly.
5. Evaluate and Improve
Building a Shopify store is worthless. If you are not measuring the performance, it is like driving with closed eyes. You must know where the traffic is coming, which pages are performing, and which sector is responsible for losing customers. Some common metrics that you must measure to know
customer acquisition performance are:
- Customer Acquisition Costs
- Customer Lifetime Value
- Customer Growth
- Churn Rate
- The ratio of Customer Lifetime Value to Customer Acquisition Cost
With the right methods, you will attract high-value customers and keep them with you longer. We have implemented various strategies for Dian Jewellery. You might want to give a read on this one, as you know how effective these strategies are in growing a business.
The Final Word!
Just monitor the overall health of your Shopify store. With the right
customer acquisition methods, you will grow beyond the current stage of business. Always test new approaches, channels, and trends to find the ideal strategy that is just, Made for you!
