INCREASE CUSTOMER ACQUISITION: MEASURE AND REFINE YOUR APPROACH
Metrics are a critical measure of any marketing strategy, because if you don’t measure it, you can’t improve it. Measure your effectiveness across all channels, identify what’s working and what isn’t, then adjust your strategy accordingly.
DEFINE YOUR OBJECTIVES AND KPISStart by defining your customer acquisition objectives. Analyze historical performance data as your benchmark to determine what’s realistic and how to effectively measure it. Agree upon measurable key performance indicators (KPIs) to monitor your progress.
- Track progress with real-time dashboards and regular analysis
- Compare current performance with established benchmarks
- Integrate with other sources of business data to measure impact on revenues
DEVELOP A DATA DRIVEN APPROACH TO ACQUISITIONThe customer acquisition path includes a variety of touch points and channels. Thus, it's important to know where they are coming from, so you can reinvest in those efforts that create the biggest lift in acquisition.
- Know where you’re successful and where you’re not
- Double down on the initiatives that are producing the best results
- Use customer feedback to refine approach, or kill initiatives that aren’t delivering
REFINE YOUR STRATEGYRegularly review and refine your acquisition strategy based on real-time insights to maximize results. Track changes to your purchase funnel before, during, and after your acquisition campaigns to measure success and identify opportunities for improvement.
- Drive new customer-focused business initiatives that improve conversion rates
- Create a “customer first” culture throughout your organization to grow brand passion and loyalty
- Share your progress and successes with key stakeholders to build support for future acquisition efforts