It can be easy to waste a lot of time and money investing in the wrong marketing channels. But a business can only thrive through smart marketing. Here are five common mistakes that can emerge through the customer acquisition process you should avoid:
Assuming first-time visitors will become loyal customers
Savvy customer engagement involves retargeting. Once you have attracted a customer to your website, for example, make sure you retarget them again by including a call to action, which will provide an invitation to interact with a brand.
Getting impatient about ROI
New products need time to attract the interest of customers. When $1,000 spent in marketing doesn’t result in a $1,000 return one week later, don’t implement drastic changes.
Customer acquisition can be a lengthy process; from the moment a new customer discovers your brand until they choose to buy something, they are likely researching competitor and looking for discounts. So be patient.
Setting the financial resources bar too low
Many new businesses have unrealistic expectations about how much money it takes to bring in prospects. Entering a new market also comes with a price tag. Be prepared to pay for the learning curve. Venture into unknown business territory with caution and realistic expectations.