Customer acquisition in economically difficult times? It’s not that easy, as many young companies may have noticed. But there are levers that can be used to boost new business in a targeted manner. This guest article explains where startups can start specifically in marketing in order to continue to grow.
- Rely on a personal approach
It sounds simple, but it is essential: Get in direct contact with your customers and seek dialogue. An essential factor in this context is the personalized address in customer communication (e.g. names, favorite products, etc.), flanked by targeted measures such as greeting cards (e.g. welcome or birthday e-mails) or discount codes. Especially the latter can be an incentive to use new products or services in the current situation, in which many have to look at the money.
- Use surveys and important insights
Another tool that you may not have on your radar is polls. On the one hand, you can use a reward system for participation to boost customer business. In addition, the survey provides you with important data and insights, on the basis of which you can optimize your offer in a targeted manner and thus respond even more closely to the wishes of your community.
- Communicate transparently and honestly
Customers value honesty and transparency! Of course, your community would like to be informed about events and promotions. But also about new products, cooperations and other developments in your company. Use this content for the social channels as well and authentically document everything that is happening with you and in your team. The range of possible formats for your storytelling is huge!
Successes and setbacks are just as much a part of everyday life as a founder. So if there is critical news – such as a price increase that directly affects your customers – it is important to communicate this honestly and openly. You can only expect understanding for such a decision if you disclose the background.
- Question customer and brand experience
Especially in online retail, it is essential that you stand out from your competition and offer your customers the best possible shopping experience. This applies in particular to the purchase process, which should be as uncomplicated as possible. So check your website regularly and make sure there is no reason to leave your store in frustration. Smooth processes are the method of choice here to lower the bounce rate. Big disruptive factors in online shopping are, for example:
- Images that cannot be enlarged
- No responsive design on smartphones
- Long page load times
- Complicated check out
- Search/help function is hidden
In addition to the customer experience, you should always take a close look at the appearance and impact of your brand. Make sure that your company embodies a clear profile and intelligently convey values and visions to the outside world. The (right) attitude of a company has never been more important for consumers than it is today.
- Consider cross-selling
Far from being a revolutionary approach, but possibly an effective one: cross-selling. Depending on the area in which you operate with your company, it makes sense to think about expanding your product range. A striking example: If you run a flower shop, there is a high probability that your customers will also need vases, fertilizer or watering cans.
Offering complementary products can be a great way to increase your sales and prevent your customers from churn to the competition. Another positive effect of targeted cross-selling: You increase the loyalty of existing customers, since the shopping experience in your shop is greatly improved by the useful additional offer.
Conclusion: Full focus on customer satisfaction
Admittedly, an economic crisis with all its challenges represents an extremely unfavorable scenario, especially for growing companies that are striving for maximum success with largely manageable economic means. At the same time, the current situation also offers the opportunity to put strategies and processes and your company to the test realign.
As a startup, you should of course always keep an eye on your cost management and new sources of income. Above all, however, you will navigate safely through the crisis if you satisfy your customers and offer incentives with which you persuade new customers to buy – and ideally turn them into “repeat offenders”. Because more valuable than customer acquisition is only the retention of existing customers.
about the author
Alexandra Anderson is Marketing Director Germany GoDaddy and has been working as a marketing expert in the IT industry for more than ten years. For six years she has been looking after the provider GoDaddy in Germany with a special focus on digital marketing. One of her particular concerns is the digitization of micro and small entrepreneurs.
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