It is not advisable for any business to spend too much money for the purpose of bringing users in. This is where the concept of acquisition cost comes in. If you aim to lower the acquisition cost you will be able to scale your business faster and more efficiently.
The following are the 4 different ways in which you can reduce or lower your user acquisition cost:
1. Get Detailed about Who your Audience is:
The First step is to get every detail regarding who your target audience is. Your dollars would be wasted if you are not well aware regarding who your target audience is. You should brainstorm and research regarding your target audience's motivations, preferred channels, goals frustrations and more.
2. Create Useful Content:
Blogging has gained immense popularity in the coming years. It is said to be one of the low-cost strategies
to convert visitors into paying customers. It is advisable to include long-tail keywords
within your content
which is what your audience is searching for on the web.
3. Use Re-targeting:
You should keep a track of those users who had visited your site once, but somehow left and never returned. For this purpose, you need to apply the technique of re-targeting
. It is like a pixel which can be added to your website that "follows"
users who left your site and at the same time displays targeted ads for convincing them to return and buy.
4. Test, Test, Test:
One of the steps to lower your acquisition cost
is to constantly test your strategies in order to find out whether what works and what does not. There is a technique known as split testing
which is used to check the effectiveness of your marketing efforts in real numbers. You can use this technique for your landing pages, home page, email marketing newsletters, subject lines, copy, popup optins,social media ads etc.