Successfully running a business depends on several factors, one of which is a steady consumer base. Big or small, old hat or new blood, your business will always need customers if you are going to stay in the industry.
Many businesses falter because they fail to develop a sound customer acquisition strategy. To lead you away from the same trap, we provide you with a list of sound strategies that you can take into consideration when trying to build a subscriber base.
Make their lives easier
Let’s face it: customers will almost always choose the easy way. If a consumer journey is too layered or complicated, you’ll probably lose them halfway and fail to convert.
Do you need customers to sign up and register for a new service? Eliminate the step of filling out complicated forms and have a simpler one instead. Alternatively, you can add a “Register with Facebook” button to get them all set. Do you have an array of services that you want to introduce to customers? Think Google and give them access to a suite of tools with a centralized account, in this case, an email.
Recurring billing can present a problem, especially if you have to go through a tedious process when paying for renewals. Using a smart recurring billing platform will help eliminate unnecessary steps and assure your new and returning customers that they will have their subscriptions renewed properly without any hassles on their end.
Other things you might want to consider include adding multiple payment options, resolving payment transaction failures automatically, providing opportunities to upgrade subscriptions or to access exclusive content, providing a chat facility for customer service, and limiting the number of questions on a customer satisfaction survey.
This is especially helpful for budding ventures. Not only do you give more value for your customers, you also expose your business to a bigger potential market. Tie-ups with bigger, more established businesses also gives you credibility — if these reliable brands trust you enough to be their partners, then you must be a trustworthy brand that merits consideration at the very least.
On the other side of the spectrum, several small businesses or start-ups banding together is also an option. You and your partners can share a database of customers — it’s up to you to proceed with different programs and incentives to convert them into loyal customers.
Use the power of social media
With more than 2 billion active social media users in the past year, it would be a mistake to dismiss these platforms as a potential avenue in growing your subscriber base. However, it’s important to consider which social network to be present in, especially since different age and gender groups have a preferred platform.
Perform (or acquire) market research to gain insight on how your target market uses and consumes content in social media. With this information, you can tailor-fit ads, rewards programs, and other incentives to convince customers to put their trust in your brand and products.
Acquiring customers is just the first step of building your brand. Once you’ve hit your target initial customer base, you have to be prepared with retention programs to continuously engage your customers and make them loyal to your brand. Eventually, a broad and engaged subscriber base can help in word-of-mouth marketing and brand advocacy.