4 Ways to Add Value to Your Customer Acquisition Strategy

adding value to your customer acquisition strategy

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Posted by: Lacy Gray

It’s 1:00 p.m. You’re on what feels like your 300th sales call of the day and getting nowhere fast. At this point, all you want is to move one lead forward so you can have something to show for your efforts.

Chasing customers. It’s one of the main motivators of marketing.

But, what if I said you can have customers running to you instead?

Sound too good to be true?

It isn’t. But, it does involve redirecting your acquisition strategy so that the customer comes out feeling like a winner without giving away the shop. You do so by differentiating yourself from competitors through adding value to your products or services in a way that sets you apart.

The Value in Adding Value

When you calculate the cost of customer acquisition in relation to time invested, how much of a return are you getting?

We’re not necessarily talking about monetary value, but something that’s a little less tangible and ultimately worth more in terms of brand loyalty, social proof, and long-term growth. Done right, you’re able to humanize your brand and connect with leads on a deeper, more sustainable level.

Four Ways You Can Add Value to Your Acquisition Strategy Today

When you present customers with the same thing everyone else is offering, it becomes the baseline. You’re simply doing what’s expected of anyone in your industry.

Anyone can be basic.

You can shift the dynamic by being extra. Whatever the other guy offers, put a plus sign after it.

There are four relatively painless ways to increase perceived value to your acquisition strategy.

Understand Factors That Drive Value

The best way to determine what the public values is to ask them. Is there something missing from similar products in your niche, a better way of doing things or a factor that’s been overlooked?

Find out what’s missing from the equation by getting feedback, conducting surveys, and reading customer reviews of similar products. I can’t remember all of the times I’ve gone into an customer review section on Amazon or a similar forum and read “I really liked this product, but …”

Your goal is to take the “but” out of the equation and turn it into “This product gave me everything they promised and more.”

Assess How Your Proposals Create Value

Once you’ve determined what is lacking, you need to decide how you’re going to address the gaps and fill in the void left by competitors. Customers perceive value by how much your product adds to their life or benefits them in some way, minus the cost.

Keep in mind that cost goes beyond the price tag to include the cost of ownership or use. How much of their lives will they need to devote to owning, using, or replacing your product? Minimize that whenever possible.

Identify Audience Segments That are Hungry for More

Not every customer is going to perceive value in the same way. You’ll advance your efforts by identifying where individual audience segments are in their journey, determining what they need at that point to move them farther along, and having a plan to meet that particular need in that moment.

Present Your Proposals in a Winning Way

If a customer isn’t feeling you in the moment, they’ll have no problem walking away no matter the savings. When customers perceive that they’re getting value beyond price, they’re willing to pay more to gain the promised advantages.

Present your proposal in a way that makes the customer feel like they’re taking the win. This can be achieved through stressing convenience or simplicity, by adding incentives, and by highlighting long-term benefits.

Final Thoughts

In the end, the ultimate value of your business is measured by how you value customers at every point in the acquisition process and beyond. In addition to the above suggestions, allocate resources toward audience segments that you can provide with the most value, and who will offer the greatest return for your efforts.

Do you face challenges when it comes to bringing in new business? When you’re ready to ramp up your brand strategy, Level343 can help.

Comments (2)

  • Avatar
    Sophie Leonard Reply

    Hi Lacy,
    This is really a good read.
    You are completely correct, chasing the customers is the main motto of marketing.
    I agree with you. We should allocate resources in audience segments that can give most value and returns. All the above-mentioned suggestions are very helpful to me as well as other new marketers.
    Thanks & Best Wishes to you!

    March 17, 2020 at 4:09 am
    • Avatar
      Lacy Gray Reply

      Thanks Sophie – glad you found the information helpful!

      March 23, 2020 at 8:53 am

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4 Ways to Add Value to Your Customer Acquisition Strategy