Overcome New Customer Acquisition Challenges with Inbound Marketing
Business-to-business (B2B) organizations sometimes struggle when it comes to acquiring new customers. One reason for this is the complexity involved with knowing how much to invest to attract the right audience. They spend money in the wrong area and the result is customer acquisition campaigns do not see any return. Here are a few strategies to help overcome customer acquisition challenges and build greater market share.
B2B companies should first start by calculating the dollar amount to invest on various marketing tactics to acquire new customers. This is called the customer acquisition cost, or CAC. It’s an important metric to the company internally and externally. Investors are interested in this metric because it highlights product profitability, how much customers can bring in and the cost of obtaining them. Internally it’s a tool for measuring the success of your marketing strategy. If the cost of acquiring new customers can be decreased, B2B companies can improve their profit margins considerably.
Inbound marketing is a great way to capture new prospects that are looking for what you sell. Inbound marketing leverages search engine optimization, social media, content marketing, analytics and mobile, social and local marketing. According to Hubspot, inbound marketing costs 62 percent less per lead and generates three times as many leads.
KEO Marketing, a leading inbound marketing agency, can help you with a digital strategy that will resonate with as many prospects as possible. Let us help you analyze different marketing channels and tactics to reduce your customer acquisition cost and see a better return on investment.