As a business owner, growth is always top of mind. But growth doesn’t just mean gaining one-off customers, it means gaining high-quality customers who remain loyal to your business for years to come – and doing so at a manageable cost. Of course, this is often a challenge. Customer acquisition is oftentimes one of the largest expenses that a business endures. Depending on your industry and your product, acquiring a new customer can cost anywhere from $10 to many hundreds of dollars.
The good news is that there are so many tools and software that can help you lower the cost of acquiring new customers! Here are our 2 favorite tech tools and software to help you grow your business.
Tool #1: Website Analytics Software
For most modern businesses, your website is not only the face of your company, but it’s essentially your flagship store. All different types of customers come to your website, explore a variety of pages, and a number of them end up making a purchase. Wouldn’t it be great to have a deeper understanding of what separates those who purchase from the rest? With website analytics software, you can do just that.
Website analytics software is a tool that sits beneath your website and tracks all types of different data. That includes things like where your customers visited from, how they found your website, which pages they looked at, which products they purchased, and more. It then gives you the opportunity to analyze that data and make informed and meaningful business decisions based on it. That may include things like:
- Determining which devices have the lowest conversion rates, and identifying ways to improve conversion for visitors from those devices
- Identifying your strongest converting pages, and using those as landing pages for your prospecting or email campaigns
- Identifying which search terms bring the most visitors to your site, and incorporating those into your SEO and PPC advertising strategies
- Building marketing personas based on demographics/characteristics of highest converting customers
There is so much fascinating information that’s hidden inside of your website. A website analytics software is the key to unlocking it!
Looking for the right software to begin your analytics journey? Check out this resource
Tool #2: Email Automation Software
Email marketing is a necessary task for any growing business, and it can be quite a cumbersome one when managed manually. Rather than taking on your email marketing campaigns alone, email automation software is the “set it and forget it” of the marketing world. It allows you to build certain email flows based on actions that a customer does or does not take, and then apply that to segments of your email contacts.
Let’s look at an example: You own a CBD Company. On the homepage of your website, there’s an email sign up CTA. A first-time customer comes to your site and enters their email. They are now a part of your CRM database. Next, they peruse your website. They view your CBD capsules page, look at a few products, and then leave your site. If you don’t have email automation software, you’ll likely never see that person again. They are now just a dead email in your database.
Now, let’s say you do have email automation software. If so, you could set up an email automation flow to re-engage that customer. Your rule could say that if a user hits the URL and then leaves your site without purchasing anything, your email automation software should send them an email 5 days later that teaches them all about your CBD capsules and links back to your site. The user clicks on the email, comes back to the site, adds a CBD capsule to their cart. Amazing! But then, the customer abandons their cart.
The good news is that you have another step in your email automation flow. This says that if the user clicks through the first email but abandons their cart, you’ll send them another email 3 hours later. And this email has a discount code in it. The user clicks on the email, and can’t resist the discount code. Suddenly, boom, you’ve got a new customer, and email automation software did all the work for you!
Get the most out of your business with smart software that can help you accelerate ahead of the competition.