How to Acquire New Customers for Business Growth in 2024?

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In 2024, we need to pause and reflect on the new strategies we can adopt to acquire new customers.As businesses continue to evolve, so do consumer behaviors and preferences. With the rise of technology and digital platforms, customers are more informed and have higher expectations.

59% of shoppers use their mobile devices in-store to compare costs or research deals and coupons.So, acquiring new customers is not just about making a sale; it’s about creating an exceptional customer experience to keep them coming back.

This is why businesses need more innovative and effective strategies to acquire new customers in 2024. Let’s explore some of these strategies in detail.

Strategies for Customer Acquisition in 2024

To give some context, customer acquisition is the process of attracting and converting potential customers into paying ones.It is a vital aspect of any business, as, without new customers, growth and sustainability become difficult.So, how can businesses acquire new customers? Let’s look at some strategies that will be effective in 2024.

Personalization and Customer Experience

Personalization has become a buzzword in the marketing world, and for good reason.Customers now expect a personalized experience from businesses, whether it’s through product recommendations or tailored messaging.

Research indicates that a staggering 73% of shoppers utilize a variety of platforms in their retail journey.Hence, for marketers to achieve a comprehensive understanding of their consumers, it is crucial to integrate all their marketing channels.This means creating an omni-channel experience that is seamless and personalized.

To create a personalized customer experience, businesses need to gather data on their customers’ preferences, behaviors, and purchase history.This data can tailor product recommendations, marketing messages, and the overall shopping experience.

Run PPC Ads

PPC (pay-per-click) ads are online advertising where businesses pay each time a user-acquisition clicks on their ad.These ads can be highly effective in customer acquisition, targeting specific keywords and demographics relevant to the business.

With the rise of online shopping,  PPC ads are becoming even more essential in acquiring new customers.They can promote a specific product or service, drive traffic to a website, and increase brand awareness.Plus, they are cost-effective, as businesses only pay for the clicks they receive.

Email Marketing Campaigns

Email marketing campaigns have been around for a while, but they continue to be an effective strategy for customer acquisition.They allow businesses to connect with their audience directly and offer personalized messaging.

To create successful email marketing campaigns, businesses must segment their audience based on demographics and behaviors.A targeted and well-crafted email can lead to higher open and click-through rates, ultimately resulting in new customers.

Social Media Presene

Social media has become essential to our daily lives, and businesses can no longer afford to ignore it.It serves as a powerful platform for engaging with potential customers, building brand awareness, and driving conversions.

Now, businesses have more chances to acquire new customers through social media.With the launch of the TikTok shop in the US, customers can now purchase directly from the app.This means businesses must adapt their social media strategy to engage with customers and drive sales.

Collaborations and Partnerships

Partnerships have been an effective strategy for customer acquisition for a long time.But, with the rise of influencer marketing, collaborations have become more critical than ever.

A successful collaboration can expose a business to a whole new audience and build trust with potential customers. This strategy works best when businesses choose partners that align with their brand values and target audience.

Omni-channel Marketing

Omnichannel marketing integrates all marketing channels to create a seamless and consistent customer experience.With customers now using multiple channels during their shopping journey, businesses must have a cohesive strategy across all platforms.

B2B leaders have recognized the effectiveness of this strategy, with 83% believing that omnichannel selling is more successful in acquiring new customers.Every customer interaction should be cohesive and personalized, from chats,  emails, and phone calls to social media and in-store experiences.

Advanced Techniques in UA and CA in 2024

For 2024, adaptability and innovation will be key in customer acquisition.As technology advances, so do the strategies for businesses to acquire new users and customers.

Automation and Chatbots

Automation is the process of automating tasks and processes, while chatbots are computer programs that can simulate conversations with human users.This advanced user and customer acquisition technique can significantly benefit businesses by saving time and resources.

Studies show that 64% of businesses trust chatbots to provide personalized customer support rather than regular customer service.Additionally, Phone calls are no longer the preferred method of communication, as 34% of customers prefer chatbot protocols.This results in a faster response time and a more convenient customer experience.

Virtual and Augmented Reality

Virtual and augmented reality (VR/AR) have gained traction in recent years.Your customers want an experience that most shopping experiences are online.  VR/AR can give them an immersive and interactive experience, making it easier for them to make purchase decisions.

For example, IKEA’s AR app allows customers to visualize furniture in their homes before purchasing, resulting in higher customer satisfaction and increased sales.This technology can also be used for virtual try-on experiences, which is particularly beneficial for the beauty and fashion industries.

Influencer Marketing

The streaming and influencer revolution is set to continue in 2024.With the rise of micro-influencers and TikTok influencers, businesses will have even more opportunities to reach new customers through influencer marketing.

Micro-influencers with a smaller but more engaged following can provide a more targeted approach for businesses.On the other hand, TikTok influencers offer a unique opportunity to reach younger generations in a fun and creative way.By partnering with influencers, businesses can tap into their large and loyal audience and expand their customer base.

Big Data and Predictive Analytics

In the age of data, big data is what drives businesses forward.Predictive analytics, a subset of big data, uses data and algorithms to predict future outcomes.Predictive analytics can help businesses identify potential customers and target them with personalized messaging in customer acquisition.

Moreover, with the rise of AI technology, predictive analytics will continue to evolve and become even more accurate.Businesses that harness this tool will have a competitive advantage in acquiring new customers.

Lead Generation and Performance Advertising

The latest techniques for customer acquisition in 2024 will also focus on lead generation and performance advertising.Lead generation involves identifying and cultivating potential customers.Performance advertising, on the other hand, is a pay-per-click model that allows businesses to only pay for actual conversions rather than clicks or views.

Working with an experienced lead generation partner can be highly beneficial for businesses.They have the expertise to help identify target audiences and create effective strategies for customer acquisition.

VenziMedia is an example of a performance advertising company that has worked with multiple verticles and has a proven track record of successfully acquiring customers for businesses.Their data-driven approach and advanced technology ensure high-quality leads and conversions for businesses.

Challenges for Customer Acquisition in 2024

Consumer behavior and market dynamics are more unpredictable now, making customer acquisition a continuous challenge for businesses.

Adapting to Changing Consumer Behavior

Consumers now rely on the experience and values a brand provides before purchasing.Hyper-personalization and customization are the new norm for acquiring and retaining customers.A study done by Salesforce found that 84% of consumers say being treated like a person, not a number, is very important to winning their business.

To adapt to changing consumer behavior, businesses must prioritize creating a seamless and personalized customer experience across all touchpoints.This can be achieved through advanced techniques such as automation, chatbots, VR/AR, and influencer marketing, as mentioned earlier.

Data Privacy and Security Concerns

With more data breaches and privacy scandals, consumers are increasingly cautious about sharing their personal information with businesses.Implementing data privacy laws, such as the GDPR and CCPA, also adds to these concerns.

To address these challenges, businesses must be transparent about their data collection and usage practices.They should also invest in robust data security measures to protect their customers’ information. Building trust with consumers is crucial to successful customer acquisition.

Competition and Market Saturation

As more businesses adopt advanced customer acquisition techniques, the market becomes saturated with competition.Standing out and differentiating from competitors is now more challenging than ever.

To overcome this challenge, businesses must focus on creating a unique value proposition and delivering it consistently. This could be in the form of excellent customer service, high-quality products or services, or innovative solutions.A strong brand identity and a targeted marketing strategy can help businesses differentiate themselves. 

How To Set Your Business Up For Success?

Customers are actively seeking personalized, engaging experiences with brands. UA and CA require a proactive approach to keep up with ever-changing trends and consumer demands. 

For mobile platforms, VenziMedia can help businesses acquire and retain customers through strategic campaigns. Our targeting capabilities, coupled with data-driven insights and creative strategies, ensure maximum ROI for businesses.

Contact us to learn more about how we can help grow your business through acquisition efforts.

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A Guide to CTV Advertising for E-commerce Companies

Share: Share: Attribution and conversion tracking for E-commerce companies are what you make of it. You spend a considerable amount of money on ads only to find that the ad traffic is untraceable once it reaches your site. Wasted resources, lost revenue, and ultimately a decline in profitability. Traditional  TV advertising was just as ambiguous. You could not know how many sales your ad drove, making it impossible to justify the high costs. A combination of CTV/OTT and e-commerce is a perfect recipe for this dilemma. Here, we’ll explore how CTV/OTT advertising can benefit e-commerce companies and provide a comprehensive guide to running successful campaigns. Why e-commerce companies have stalled spending on traditional TV advertising? Traditional TV advertising has been the go-to for promoting products and driving sales for decades. For example, if you were a consumer goods brand, you had to advertise on TV. The logic behind this was simple: TV had the largest reach and could target a broad audience.  TV ads’ sound, sight, and motion made them incredibly persuasive. It was hard for consumers to resist the charming ads and their catchy jingles. As a result, TV advertising became the norm for many companies, including e-commerce brands.  Consumer habits have changed drastically, and traditional TV viewership has been declining. More people are cutting the cord and switching to streaming services like CTV/OTT.  As a result, traditional TV ads have become less effective and more expensive. Yes, that’s right; TV advertising is costly. A 30-second spot during prime time can cost anywhere from $200,000 to $1000,000. For small and medium-sized e-commerce businesses, this is way out of reach. Linear TV’s downfall for e-commerce companies is its inability to track and measure real-time conversion rates. This lack of measurability makes it challenging to justify the high costs of traditional TV ads. Upper-funnel advertisers may have the luxury of focusing on brand awareness, but for e-commerce businesses, every ad dollar needs to drive measurable results.   Why is CTV / OTT advertising Good for E-commerce? The sound, sight, and motion elements on a large screen make traditional TV advertising incredibly persuasive. With CTV/OTT, you can achieve the same persuasive power while enjoying IP delivery and rich data. This means you can effectively target and track your ads in real-time. Imagine being able to see how many people saw your ad, clicked on it, and made a purchase—all in one platform. According to Bizrate Insights,  52% of US adults have used shoppable commerce or are interested in it. This is especially popular among younger adults, with 31% of those aged 18 to 34 using it. Shoppers behave like traditional shoppers. They see something they like and want to buy it immediately, so CTV/OTT ads with shoppable commerce capitalize on this behavior. The best part is that they don’t have to leave the video to complete the purchase. The login data from a streaming device gives CTV/OTT advertisers reliable information. This data tells you who’s watching, what they’re watching, and when they’re watching it. Companies like  Roku use data-driven advertising to provide e-commerce brands with highly targeted and effective ad placements. To sign up for a Roku account, you need to enter an email address and your ZIP code. This level of granularity allows for highly targeted ad placements, so you can serve ads to people who are likely interested in your product or service. How e-commerce Companies can Capitalize on CTV Advertising Let’s see how e-commerce companies can use CTV advertising to drive conversions and increase sales. Make Your Ads Interactive Your first thought might be, “I’m already streaming shows; why would I do that in a CTV ad?” After all, watching TV  is to relax and unwind, not to be bombarded with ads. The idea of CTV/OTT advertising is not to interrupt but to engage viewers meaningfully. You can do just that with interactive ads while providing a seamless viewing experience. For example, your ad can incorporate elements like polls, quizzes, and product showcases. This keeps viewers engaged and allows them to interact with your brand and products. With interactive ads, you can collect valuable data about your viewers, such as their interests and preferences. You can then use this data for targeted ad placements and retargeting campaigns. The Attribution Process for CTV Advertising While CTV ads may not have the click-through capabilities of digital ads, it doesn’t mean they can’t be tracked and measured for success. The ads may not be clickable, but they are viewable. You can not skip them or have an ad blocker block them. That means you can track how many people viewed your ad and for how long. The key is to find a reliable partner with advanced attribution software that can accurately track and measure post-view conversions from CTV ads. This way, you can see how many people saw your ad and eventually made a purchase or took another desired action.  Make Your ads act as a direct sales channel One of the biggest advantages of CTV advertising for e-commerce companies is its potential to act as a direct sales channel.With traditional TV ads, viewers would have to remember your brand and product, go online or visit a store, and make a purchase. However, with CTV ads, viewers can purchase directly from the ad. This eliminates any potential friction or delay in the purchase process. By making your ads shippable, you can capitalize on impulse purchases and drive immediate conversions while the product is fresh in the viewer’s mind. This can be especially effective during key shopping periods like holidays and sales events. The call-to-action in your ad can direct viewers to a landing page or microsite where they can make the purchase.  Hyper-targeting your audience One of the major advantages of CTV advertising is its ability to hyper-target specific audiences. Using login data, streaming devices provide advertisers with reliable information about who is watching what and when. E-commerce companies can fully exploit this data by targeting specific demographics and interests. For example, selling a fitness product can target viewers who have

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