The 10 Biggest Customer Acquisition Blunders
When it comes to acquiring new users, ad networks and / or large audiences, publishers are constantly on the hunt and on the prowl. It can be difficult to get the gist of things when different gurus claim different things will make you successful, all the while avoiding the things that will actually make you successful. Unlike them, we will tell you that taking action is all you need to do to make you successful when it comes to attracting customers. Additionally, we will list the 10 biggest mistakes that people make when acquiring customers. Staying up-to-date can be hard when there are so many blogs around, make sure you follow SelfAdvertiser’s blog for up-to-date and relevant information.
Make sure you go through the list and recognize the things you are still doing that are preventing you from getting users/traffic.
Image source: Inquisitr
1. Not following through on your sales funnel
Though you have read about the sales funnel so many times by now and logically you know what it entails, you still haven’t found it relevant for your business. We’re here to change that. After all, the sales funnel is the guiding principle for visitors towards a buying decision. All the steps of the funnel represent assets which actually do the work of selling for you. You must have a clear CTA in your funnel in order for it to work. Also, know that uniqueness, standing out and being different is good. If you run an e-mail driven service, don’t offer anything unless customers sign up. Customers will either be all in or not at all. Most companies fail to be blunt and to follow through on their sales funnel.
Image source: janbaskdigitaldesign
2. Not helping others
“You can have everything in life you want if you just help other people get what they want, “ said Zig Ziglar. This is one of those fundamental life truths that can help you go a long way in life and in business especially. Marketers understand that selling is the lifeline of their business and we’re all for it. However, if you decide to actually help your customers solve their burning itch or desire, you will be making serious money. Why do we believe this? First of all, helping others will help you build credibility, and second, their perception of you as trying to sell them something will change to you helping them solve an issue. When you’re the one helping people solve their issues, you will be able to promote your services or products that actually are the real solution without the need of persuading or manipulating them. This breeds loyalty and loyalty keeps your business afloat.
3. Relying Too Much on Analytics
Reading about web analytics in general, and Google analytics in particular, you will start to see a pattern. This pattern points to the fact that there is a big margin of error with these tools. They undercount conversion, sometimes even up to 15%. This is huge when you’re doing an analysis of what works and what doesn’t. This happens because, for example, Google analytics ranks the last channel that influenced the action of the user, even though the user could have gone through multiple marketing “touches” i.e. channels. Focus on the performance of your marketing sources and campaigns in particular, not your general performance. Rank your marketing sources, cut out the ones which are underperforming and invest in those that bring results.
4. Not Investing (enough) in Analytics
Ensure that you use a robust web analytics tool because you must know at every moment which marketing program is driving users to you. If you don’t know your numbers, you don’t know your business. Knowing which ad campaign or site has funneled users to you is key to ensuring that you keep doing the right things. ROI on your marketing is important because it will help you direct your money better and refine your ads.
5. Focusing on a Silver Bullet Solution for User Acquisition
What is the best channel for acquiring users? There is no right or wrong channel. If the target audience you’re looking for is on Instagram, then you need to target ads for that channel. If not, then you need to go where your users are and target them there.
6. Not Putting the User First
Remember that you are working with humans, and humans have needs, wants and desires. If you put the user first and manage their expectations, then you can expect them to keep coming and keep your business afloat.
7. Not tracking and testing
Making changes to your business based on emotions and feelings is just wrong. You must look at your data to know where to steer your ship. Utilizing basic tracking techniques is fairly easy. If you’re using an ad network, this comes as a standard feature of the network. If it doesn’t, then you need to go elsewhere. Track, split test, test and improve.
8. Not Optimizing Conversion Rates
In essence, when receiving traffic to your site, it is time to take action. This action entails tracking and improving elements of your site in order to increase sales and incoming traffic. Most companies fail at following up on this aspect.
9. Not Knowing Your CAC
User acquisition cost essentially tells you how much you spend on getting the user, and these costs include marketing costs, ads and sales costs. Again, if you don’t know your numbers, you don’t know your business.
10. Avoiding paying for traffic
If you do this right, you will be turning a profit without spending too much money. What we mean is, if you have all of the elements in place, copywriting, products, content, and such, you will be making money so that you can pay for traffic. This will help you put in place other elements from your sales funnel and help you understand how much it costs you to get a customer. With this data, you will be able to discern how much to spend on traffic and still make a profit.
If you are really serious about acquiring and retaining new users, there are a few missteps that you should be avoided at all costs. Not doing follow-ups immediately after acquisition, or not ranking your leads are some of them. Make sure you don’t rely too heavily on analytics, but instead to focus on your marketing sources and campaigns in particular. Failing to put users first, looking for a ‘silver bullet’ and one-size-fits-all solutions, ignoring user feedback or failing to optimize conversion rates are also among the biggest user acquisition blunders. And finally, not knowing your CAC and your users’ LTV are also the usual suspects. Make sure you’re not making these mistakes in order to reap the benefits of happy users.