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CUSTOMER ACQUISITION

Over recent years, the cost of acquiring new customers has increased by more than 50%. This evident rise in customer acquisition cost means that brands can be more hesitant to test new methods and strategies. 

Customer acquisition is simple to define. It generally happens towards the bottom of the funnel and most brands have a tangible goal to measure this with. This can look like sales, downloads, signups, or anything that introduces consumers to your brand. 

Deploying successful customer acquisition marketing campaigns requires research, creativity and a true understanding of the likes, needs and wants of your target audience. 

In the videos below, our co-founder Harry Hugo explores some key elements of customer acquisition and gives his advice for big brands focusing on digital acquisition via social media. 

Customer Acquisition Strategy

How do you measure customer acquisition?

We measure customer acquisition in multiple different ways. It completely depends on what the KPI is and what the metric we are being judged on is. So it could be increasing downloads, it could be increasing sales, it could be getting more registrations, or new followers on a social media account. All those different things come with different requirements for measurement. Lots of the time we use third party measurement tools. What is digital acquisition? We use the native analytics of the platforms. We work with our clients in order to build into their dashboards or work with them on their live dashboards to see the results. So it’s a very transparent process and something that we can only really get the best information from when we’re working closely with the client. 

What does acquisition mean in digital marketing?

What does acquisition mean in marketing? Acquisition is really, really simple. It’s the thing that happens at the bottom of the funnel that you care about as a brand. It could be a download, it could be a registration, it could be a new follower on your social media account, it could be a sale on your website, it could be a new email address in your database. All these different things have to be defined by the business we’re working with, and then we work towards those acquisition numbers that matter for the brands. All those different things come at different costs. They’re used in different strategies and hooked into different parts of your marketing mix, but it’s really, really important that that goal is set from the beginning so we know what we’re aiming for.

How do you measure digital acquisition?

What does acquisition mean in marketing? An acquisition campaign is always about driving towards the bottom of the funnel. What’s the thing that people care about most? It’s normally sales, it’s downloads, it’s registrations, it’s new email signups, it’s new followers on your account.

All these different things are at the bottom of the funnel for what businesses are trying to achieve. So a campaign just driving directly towards those KPIs are what we define as an acquisition campaign. And those are the things that we need to look at in the funnel. We need to see how many people we can hit and how we can convert them all the way down using clever calls to action, clever mechanics, and we’ll just drive the thing at the bottom of the funnel.

What companies are good at marketing? Having come from brand-side and never really run an agency before, we completely understand the business objectives and the things that happen at the bottom of the funnel. So it really is important to us that we know exactly what we’re trying to hit before we start in order to understand how the business is going to develop from the KPIs that we’re setting.

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Harry Hugo

Harry Hugo

Harry is a Goat Agency Co-Founder and an avid social media marketer. If you like his content, why not follow him.

Follow Harry on LinkedIn