Prudent Tips to Increase Your Customer Base

January 4, 2018 by Ed Becker

Neil Patel, of Quicksprout shares some cost effective ways to increase your customer base without breaking the bank.  One of the first items, he asks you to think about is your customer acquisition cost, which is your sales and marketing cost divided by the # of new customers.  For a more in-depth formula, add all other associated costs such as wages, infrastructure, production and other related costs.  You want to keep your customer acquisition as low as possible while maintaining a solid customer base.  Not an easy task but Neil shares some of his self-tested tips:

• Reconnect with previous customers and draw them back into the fold with an email and/or even a return customer discount
• Make sure you keep current and old customers in the loop about the new and innovative upgrades you have created to make their lives easier, like a mobile-friendly site
• Get on Instagram, it is free, more than half of their users are on daily, and they have 800 million monthly users
• Create video content on your site as it has the potential to increase conversion rates up to 80%
• Give some great giveaways to get potential customers to try your product or service

Try some or all these tips, but always keep in mind that retaining your customers should always be a top priority.

Read more and see industry examples:  Customer Acquisition Strategies That Won’t Break the Bank

Image Credit:  Deposit Photos